Post on 13-Jul-2020
Boosting Renewable Energy
Financing
Senior Director Ms. Anita Marangoly George
Tokyo, Japan / November 4th, 2014
CONTENTS
Global Trends Future Scenarios Progress Challenges Markets Expansion World Bank Group Portfolio
I GLOBAL TRENDS
Overall share of renewable energy has remained quite flat,
albeit some sources grew exponentially from a small base
Traditional biomass accounts for over half of renewable
energy, mainly for heating and cooking
Less developed regions show higher (though declining)
renewable energy shares – and vice versa
Countries with highest renewable shares reach 50% mark (excluding traditional biomass)
Largest increases in renewable energy consumption registered by OECD and some emerging countries
II FUTURE SCENARIOS
Global models show that business as usual falls
well short of where we need to be by 2030
III PROGRESS
The cost of wind and solar PV technology have gradually lower, to the point that they are competitive in many systems
A steep price decline of solar PV modules registered between 2011 and 2012 reduced investment costs
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
2010 2011 2012 2013 2014
20
13
USD
/Wp
Crystalline Germany
Crystalline China
Crystalline Japan
Thin film CdS/CdTe
Thin film a-Si
Thin film a-Si/u-Si or Global Price Index(Q4 2013 onwards)
Source: Bloomberg New Energy Finance
At least 138 countries have a renewable energy target in 2014
1%
51%
14%
2% 6%
1%
1%
Source: REN21 Renewables Global Status Report
1%
39 41 36
22
0
10
20
30
40
50
HIC UMIC LMIC LIC
Number of countries with a target
HIC
UMIC
LMIC
LIC
68% 79% 75%
63%
0%
20%
40%
60%
80%
100%
HIC UMIC LMIC LIC
Percent of countries with a target
HIC
UMIC
LMIC
LIC
2020 Renewable Energy Target in Japan 10% of Primary Energy (currently 7.1%) Technology specific: - 3.3 GW Biopower - 0.53 GW Geothermal - 49 GW Hydro - 1.5 GW Ocean - 28 GW Solar PV - 5 GW Wind
Share of Countries with RE Policies By Income Group
Source: REN21, 2014
Middle and lower income economies are increasingly adopting policies to support renewable energy development
Many countries have introduced feed-in tariff policies (68 to date) but after 2010 there has been marked preference for the
use competitive schemes
60
27
16 13 14
41
8
27
12
30
4
22
68
54
28
43
18
63
0
10
20
30
40
50
60
70
80
FIT/FIP Tendering RPS/Quota Net Metering Heat Obligation Biofuel BlendMandate
Power Generation Heating andCooling
Transport
Nu
mb
er o
f co
un
trie
s
2010 - early 2014
2010
III CHALLENGES
Global investment in renewable energy has declined over the last two years, in part due to reductions in technology cost, but mainly attributed to policy uncertainty
Annual investment need to reach SE4ALL target to 2030 is $320 Billion
Roughly 60 percent of annual investment needed to reach SE4ALL renewable goal is in emerging markets
Source: Global Energy Assessment 2012 by IIASA; Bloomberg New Energy Finance 2013; World Bank
Baseline and annual investments needed in each region to attain SE4ALL goal in renewable energy by 2030 (USD Billion)
Regional Share of Annual Investment Gap
Source: Global Energy Assessment 2012 by IIASA; Bloomberg New Energy Finance 2013; World Bank Note: “Others” includes synthetic fuels, hydrogen and hydrogen fuel cells from renewables
About 50 percent of annual investment needed to the close investment gap will have to be in hydro and wind
Baseline and annual investments needed to attain SE4ALL goal in renewable energy by 2030, by technology (USD Billion)
Share of Annual Investment Gap by Technology
In many developing countries the local banks and domestic capital markets lack the depth necessary to meet the required investment needs
Banking sector and capital markets in many developing countries lack necessary depth
• Significant local institutional investor pools exist but very little is targeted towards sustainable energy infrastructure
• Commercial banks in less developed countries often have substantial energy exposure to national utilities, which limits new lending
• Access to debt capital markets via bond issuance and syndicated loans is currently insufficient to meet investment needs
Having an in-country environment that enables investment is key
• Strong regulatory framework - an appropriate policy setting Economic stability
• Political and institutional stability
Potential to mobilise $120bn incremental new annual investment by 2020 for sustainable energy
1. $35bn – Green Bonds: Catalyse further expansion of Green Bond market, use it to drive fresh capital into new sustainable energy investments, in particular into the more nascent project bond market and asset-backed Green Bond segments
2. $30bn – DFIs (co-lending): Develop tailored structures that allow private sector to co-lend with DFIs in emerging markets, as well as helping to refinance existing sustainable energy loan portfolios by attracting new investors
3. $30bn – DFIs (private sector lending): Encourage new construction stage lending, supported by DFI supported subordinated debt credit enhancement instruments, and enable later-stage institutional investor flows
4. $25bn – Aggregation: Develop aggregation and blended funding structures for renewable energy project developers including those doing replicable small-scale projects in emerging markets and for energy efficiency
Policies need to embody key attributes to effectively attract private participation in renewable energy investment
Attribute Description
Predictability
Associated with the long term certainty of RE production purchase and price
purchase obligation imposed on utilities, discos or other service providers explicit rules for price level modifications and their frequency inclusion of mechanisms in tenders that promote realistic price bids
Efficiency
Refers to the efficiency of the remuneration level (price, period of support)
Policy makers need to ensure that the price incentive is closely aligned to costs to avoid over compensation or infra-marginal rents
Sustainability
Incremental cost is covered through a sustainable mechanism
Pass-through to the consumer tariff (surcharge) Consumer affordability
Accessibility
Associated with access to the grid
Prioritized access to the grid (or priority dispatch) Existence of a grid code that includes measures or standards for managing
variable renewable energy Transparency in cost allocation of curtailment
The Planning Challenge
There is still a lack of adequate planning to integrate renewables into power systems, not only in developing but also in developed economies Key elements of planning include: 1. Target with a corresponding action plan
2. Inclusion of existing RES options in long term expansion planning (LTEP) using
traditional least cost planning and if possible other complementary or cutting edge tools
3. Proactive transmission expansion planning
4. Comprehensive high-quality and validated resource assessment and mapping, including ideally the publication of a strategic planning or zoning guidance
The Challenge of Integrating Variable Renewable Energy
Areas of intervention to accommodate variable renewable energy
IV RENEWABLE MARKETS
Growing Markets: Increased Trade in Solar PV Cells
0
10000
20000
30000
40000
50000
60000
70000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Trad
e V
olu
me
(U
SD M
illio
n)
Imports
Exports
0
5000
10000
15000
20000
25000
30000
35000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Trad
e V
olu
me
(U
SD M
illio
n)
Imports
Exports
0
500
1000
1500
2000
2500
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Trad
e V
olu
me
(U
SD M
illio
n)
Imports
Exports
0
20
40
60
80
100
120
140
160
180
200
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Trad
e V
olu
me
(U
SD M
illio
n)
Imports
Exports
HIGH INCOME UPPER MIDDLE INCOME
LOWER MIDDLE INCOME LOW INCOME
HS Code: 854140 – Photosensitive semiconductor devices, incl. photovoltaic cells whether or not assembled in modules or made up into panels; light emitting diodes (excl. photovoltaic generators)
0 2 4 6 8 10 12
Germany
Netherlands
USA
Japan
Korea, Republic of
Taipei, Chinese
Hong Kong, China
Italy
Belgium
Singapore
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0 0.5 1 1.5 2 2.5 3
China
Malaysia
Mexico
Thailand
Bulgaria
Hungary
Romania
Brazil
Peru
South Africa
Volume of Trade in 2012 (USD Billion)
Exports
Imports
15 20 25
HIGH INCOME UPPER MIDDLE INCOME
0 0.1 0.2 0.3 0.4
India
Ukraine
Philippines
Viet Nam
Indonesia
Nigeria
Ghana
Morocco
Pakistan
Nicaragua
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0.75 1 0 0.01 0.02 0.03
Bangladesh
Uganda
Kenya
Mali
Tanzania
Ethiopia
Sierra Leone
Nepal
Cambodia
Rwanda
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0.04 0.06
LOWER MIDDLE INCOME LOW INCOME
Top 10 countries in trade volume of key component of solar PV by income level
Note: Figure shows net trade of “photosensitive semi-conductor device.
Top 10 countries in trade of wind turbines by income level
HIGH INCOME UPPER MIDDLE INCOME
LOWER MIDDLE INCOME LOW INCOME
0 0.5 1 1.5 2 2.5
Germany
Denmark
USA
Spain
United Kingdom
Italy
Canada
Sweden
Australia
France
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0 0.1 0.2 0.3 0.4 0.5
China
Mexico
Brazil
Turkey
Romania
Thailand
Venezuela
Bulgaria
Malaysia
Azerbaijan
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0 0.02 0.04 0.06 0.08 0.1
Ukraine
Nicaragua
India
Morocco
Pakistan
Sri Lanka
Viet Nam
Indonesia
Mauritania
Syrian Arab Republic
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0 0.0002 0.0004
Ethiopia
Tanzania
Sierra Leone
Bangladesh
Burundi
Kenya
Gambia
Rwanda
Madagascar
Malawi
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0.007 0.009
V WBG LENDING / PORTFOLIO
WBG had a strong year in 2014 with over $9 billion in energy lending
11,920
7,226 7,547
7,018
9,445
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2010 2011 2012 2013 2014
US$
Mill
ion
s
World Bank
MIGA
IFC
11,919
7,226 7,547
7,018
9,445
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2010 2011 2012 2013 2014
US$
Mill
ion
s
Upstream extractives and policy
Policy and Institutional development
Transmission and Distribution
Coal and Oil fired generation
Gas fired generation
Energy Efficiency
Renewable Energy (Non-Hydro) generation
Renewable Energy (Hydro) generation
Renewable Energy accounted for over $3.5 billion of WBG energy lending
Geospatial planning (GIS) and strategic environmental assessment
Phase 1
Phase 2
Phase 3
Phase 4
Phase 5
Preliminary resource mapping output based on satellite and global atmospheric and meteorological
data
Ground-based data collection (met masts installed for 12-24 months)
Production of validated resource atlas based on satellite and ground-based data
Develop and agree policy framework to support investment
Collect and generate
geospatial data
Initial outputs inform WB-Client policy
dialogue
Provide training and
capacity building
Build country and global
partnerships
Coordinate with other
donor-funded programs
Disseminate via open data
repository and GIS portal
ESMAP Resource mapping program
Global Geothermal Development Plan • Aims to better manage and reduce risks of exploratory drilling,
and to bring what is now a marginal renewable energy source into the mainstream to deliver power to millions
34
Sustainable Energy Department
Source: http://www.scientificamerican.com
– Convene donors and multilateral lenders around an investment plan to scale up geothermal power in the developing world
– Perform exploratory test drilling
– Develop a pipeline of commercially-viable projects that are ready for private investment
ANNEX 1 CLIMATE INVESTMENT FUNDS
Climate Investment Funds
36
Design and Operating Principles
Partnership among MDBs (AfDB, AsDB, EBRD, IDB, and WBG)
Demonstrate scale and transformation
Multi-stakeholder at governance and country levels
Leverages public and private sector
Complementarity with other partners at the country level
Governance o Trust Fund (Sub-) Committees o CIF Admin Unit, Trustee, MDB Committee
Sunset clause
Structure and Funding
37
Clean Technology Fund
Finance scaled-up demonstration,
deployment and transfer of
low carbon technologies
Strategic Climate Fund
Targeted programs with dedicated funding
to pilot new approaches with
potential for scaling up
Pilot Program
for Climate
Resilience
(PPCR)
Mainstream climate
resilience into core
development
planning
$1.3 billion
Forest Investment
Program
(FIP)
Reduce emissions
from deforestation
and forest
degradation
$639 million
Scaling Up
Renewable Energy
in Low Income
Countries
(SREP)
Create economic
opportunities and
increase energy
access through
renewables
$551 million
±$ 2.5 billion
Investment Plans
±$5.5 billion
• Support country and regional development
strategies
• Optimize blending with MDB financing and
other sources, including bilateral programs
• Range of financial products to stimulate
private sector engagement
Scaling Up Renewable Energy Program
in Low Income Countries (SREP)
38
Purpose To pilot and demonstrate the economic, social and environmental viability of low carbon development pathways in the energy sector by creating new economic opportunities and increasing energy access through the use of renewable energy
Scale $551 million in pledges for programs of investments and capacity building in renewable energy. Expected Co-financing 1:4 Private sector program for $90 million SREP funding
Governance SREP Sub-Committee (recipient/donor countries)
Administrative Unit
Trustee
Multilateral Development Banks (MDBs) - ADB, AfDB, IDB, EBRD, and WB/IFC
Observers: civil society, Indigenous Peoples, private sector, GEF, UNDP, UNEP, UNFCCC
Contributor Contribution
Type
Contribution in million USD eq.
(as of March 31, 2014)
Australia Grant 10
Denmark Grant 12
Japan Grant 40
Korea Grant 6
Netherlands Grant 76
Norway Grant 97
Spain Grant 4
Sweden Grant 44
Switzerland Grant 26
United Kingdom
Capital * 186
United States Grant 50
Total 551
* Near-zero interest loan
Scaling-Up Renewable Energy Program in
Low-Income Countries (SREP)
39
10 Investment Plans endorsed for $384M (Kenya, Ethiopia, Tanzania, Mali, Liberia, Honduras, Maldives, Nepal, Armenia, Solomon Islands)
3 Investment Plans in the Pipeline (Mongolia, Yemen, Vanuatu) 14 New countries (Benin, Lesotho, Ghana, Madagascar, Malawi, Rwanda, Sierra Leone, Uganda, Zambia, Bangladesh, Kiribati, Cambodia, Nicaragua, Haiti)
Set Aside Reserve for Private Sector ($90M)
Expected co-financing (1 to 4) SREP Investment Criteria • Transformative impact • Enabling environment • Implementation capacity • Catalyze increased investments in RE • Improve long-term economic viability of RE sector • Increase energy access
Cookstoves, 2%
Solar PV, 3% Waste to
Energy, 5%
Hydropower, 14%
Geothermal, 36%
Mixed RE (e.g., hybrid mini-grids),
40%
SREP-supported installed RE generation capacity by technology, in MW (as of Sep 30, 2014)
Types of Activities
40
Investments
Eligible Investments:
Solar, wind, bio energy, geothermal, small-hydro (<10MW)
Electricity and thermal
On-grid, Off-grid, Mini-grid
Capacity Building & Advisory Services
Development of energy policies and legislation
Assessment of technical resources potential
Strengthening governance and institutional capacity
Creation of incentive scheme to improve financial viability of RETs
Clean Technology Fund (CTF) • Finance scaled-up demonstration, deployment and transfer of low carbon technologies
• Support 15 countries* and 1 region (MENA)
• WB portfolio and pipeline totals US$ 2.1 billion
Pipeline 668
Renewable Energy
941
Energy Efficiency 230
Transport 225
Portfolio 1,396
CTF Portfolio and Pipeline (US$ m)
* Chile, Colombia, Egypt, India, Indonesia, Kazakhstan, Mexico, Morocco, Nigeria, Philippines, South Africa, Thailand, Turkey, Ukraine, Vietnam
Scaling Up Renewable Energy Program (SREP)
• To scale up the deployment of renewable energy solutions and expand renewables markets in
the world’s poorest countries
• Support 27 countries*, including 14 new countries** endorsed in June 2014
• WB portfolio and pipeline totals US$ 179 million
Pipeline 119
Portfolio***
60
SREP Portfolio and Pipeline (US$ m)
* Armenia, Ethiopia, Honduras, Kenya, Liberia, Maldives, Mali,
Nepal, Solomon Islands, Tanzania, Mongolia, Yemen, Vanuatu,
and 14 new countries below
** Bangladesh, Benin, Cambodia, Ghana, Haiti, Kiribati, Lesotho,
Madagascar, Malawi, Nicaragua, Rwanda, Sierra Leone, Uganda,
and Zambia
*** 4 projects in portfolio, including geothermal, biogas, solar and
hybrid
ANNEX 2 ESMAP
Clean Energy Program
Global Geothermal Development Plan ($7.5 million): Identifying and developing geothermal resource validation projects and mobilizing $500 million concessional finance for investment-ready exploratory drilling projects
Djibouti IDA project approved. Clean Technology Fund has allocated $115 million; first projects for Chile and Mexico (IDB) approved. Potential projects under development in Armenia, Indonesia, Nicaragua, Turkey, East Africa and Caribbean
Renewable Energy Resource Mapping ($22 million): In 12 countries in AFR, EAP, and SAR, ground-based measurements, combined with geospatial analysis and strategic environmental assessment for wind, solar, biomass, and small-hydro
Global Knowledge Products – RE staff training program with IFC
– Grid integration (smart grids, integration of RE into grids)
– Climate Resilience
Energy Access Program
Sustainable Energy for All TA Facility ($15 million): Accelerating and scaling
up energy access programs through preparation of investment prospectuses in Burundi, Guinea, Liberia, Mozambique, Myanmar, Nepal, Senegal, and Central America for clean cooking
Africa Renewable Energy and Access Program ($24 million): supporting IDA pipeline
SE4ALL Knowledge Hub ($8.2 million): – Defining and measuring access to energy: implementing a multi-tier
framework through global surveys – Updating the SE4ALL Global Tracking Framework – Periodic State of Energy Access Report: “WDR for Energy Access” – Readiness for Investment in Sustainable Energy (RISE): “doing business”
Energy Assessments and Strategies Program
Energy Subsidy Reform and Delivery TA Facility ($19 million): Assessing subsidies, designing reforms and mitigation measures for poor, supporting communications
Activities underway in Egypt, Vietnam, Belarus, Turkey, Kyrgyz Rep, and Haiti, plus regional program in Central America and a global study on the political economy of subsidy reforms
Global Knowledge Products: – Electricity sector planning
– Open Access and Private Sector Participation in T&D Systems
City Energy Efficiency Transformation Initiative
Integrating Energy Efficiency in Urban Planning and developing Investment Programs: Public Lighting, Water and Waste-water, Buildings, Power and Heat, Waste Management, and Urban Transport ($10 million)
Initial projects: Brazil (Rio de Janeiro and Belo Horizonte), Shenzen, Macedonia, Karachi, Ukraine and IFC EDGE program (global and South Africa)
Global deployment of city energy diagnostic tool TRACE – more than 25 cities to-date
Knowledge Program: training program for urban transport leaders
Annual grants for analytical and advisory activities for regional transport teams to promote energy efficient urban transport
Special Initiative – SIDS DOCK Support Program
• $16 million program for Small Island Developing States (SIDS) funded by Denmark and Japan
• Co-financing IDA in Maldives, Tuvalu, and Vanuatu
• Establishing (with IDA) Eastern Caribbean Electricity Regulatory Authority
• Geothermal and Solar PV scale-up in Caribbean
• Energy Efficiency TA in Sao Tome
• Pilot PPP model for solar PV for health care facilities in Cabo Verde
• TA for renewable energy supply to grid in Mauritius and Seychelles
ANNEX III ADDITIONAL INTERESTING SLIDES
Global investment in renewable energy has declined over the last two years, in part due to reductions in technology cost, but also policy uncertainty
Source: IEA
63
86 95
117
161
201
227
278
258 252
0
50
100
150
200
250
300
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
US$
Bill
ion
s
Wind - On shore
Wind - Off shore
STE
PV
Ocean
Hydropower
Geothermal
Bioenergy
Annual RE investment still falls short of that needed to achieve the SE4ALL target, estimated at $ 320 Million per year
51 * Access values include electricity but exclude non-solid fuels; ‡ values presented are estimates
Global models show that business as usual falls well short of where we need to be by 2030
Germany
Denmark
USA
Spain
United Kingdom
Canada
China Italy
Japan
Turkey India
Australia
Brazil
Sweden
Mexico
0
20
40
60
80
100
120
140
-0.5 0 0.5 1 1.5 2 2.5 3
Tota
l Tra
de
to
GD
P R
atio
(2
01
2)
CAGR of Trade Volume of Product (2002 - 2012) Note: Bubble size denotes net trade volume of product
Japan is among the top 15 countries in next trade of wind turbines
Lower middle income and low income countries increasingly importing wind turbines
HIGH INCOME UPPER MIDDLE INCOME
LOWER MIDDLE INCOME LOW INCOME
HS Code: 850231 - Wind-powered generating equipment
0
5
10
15
20
25
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Nu
mb
er
of
Co
un
trie
s Imports
Exports
0
5
10
15
20
25
30
35
40
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Nu
mb
er
of
Co
un
trie
s
Imports
Exports
0
5
10
15
20
25
30
35
40
45
50
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Nu
mb
er
of
Co
un
trie
s
Imports
Exports
0
10
20
30
40
50
60
70
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Nu
mb
er
of
Co
un
trie
s
Imports
Exports
Top 10 countries in trade of wind turbines by income level
HIGH INCOME UPPER MIDDLE INCOME
LOWER MIDDLE INCOME LOW INCOME
0 0.5 1 1.5 2 2.5
Germany
Denmark
USA
Spain
United Kingdom
Italy
Canada
Sweden
Australia
France
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0 0.1 0.2 0.3 0.4 0.5
China
Mexico
Brazil
Turkey
Romania
Thailand
Venezuela
Bulgaria
Malaysia
Azerbaijan
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0 0.02 0.04 0.06 0.08 0.1
Ukraine
Nicaragua
India
Morocco
Pakistan
Sri Lanka
Viet Nam
Indonesia
Mauritania
Syrian Arab Republic
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0 0.0002 0.0004
Ethiopia
Tanzania
Sierra Leone
Bangladesh
Burundi
Kenya
Gambia
Rwanda
Madagascar
Malawi
Volume of Trade in 2012 (USD Billion)
Exports
Imports
0.007 0.009
Japan is among the top 15 countries in net trade of solar PV cells
(figure shows net trade of “photosensitive semi-conductor device”)
China
Germany
Japan USA
Taipei, Chinese
Netherlands
Hong Kong, China
Korea
Italy Spain
Malaysia Belgium
France
Singapore
-100
0
100
200
300
400
500
0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9
Tota
l Tra
de
to
GD
P R
atio
(2
01
2)
CAGR of Trade Volume of Product (2002 - 2012) Note: Bubble size denotes net trade volume of product
Number of countries participating in the trade of key solar PV components (module/cell) increasing slowly
Access to clean energy technology dependent on investment climate and skill / knowledge base
0
10
20
30
40
50
60
70
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Nu
mb
er
of
Co
un
trie
s
Imports
Exports
0
10
20
30
40
50
60
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Nu
mb
er
of
Co
un
trie
s
Imports
Exports
0
5
10
15
20
25
30
35
40
45
50
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Nu
mb
er
of
Co
un
trie
s
Imports
Exports
0
5
10
15
20
25
30
35
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Nu
mb
er
of
Co
un
trie
s
Imports
Exports
HIGH INCOME UPPER MIDDLE INCOME
LOWER MIDDLE INCOME LOW INCOME
Product : HS Code: 854140 – Photosensitive semiconductor devices, incl. photovoltaic cells whether or not assembled in modules or made up into panels; light emitting diodes (excl. photovoltaic generators)
Auctions are performing extremely well in emerging economies
Brazil, China, India, South Africa and many other countries are using the auction based approach to deploy renewables competitively and minimize subsidies
Source: World Bank
The private sector requires policies with sustainable and affordable incentives
Impact of Feed-in Tariffs on Household Income and Residential Electricity Bill (selected sample of countries)
Danish green transition
High levels of variable renewables (mostly wind) achieved thanks to: - Attractive VRE incentives - Strong interconnections (Nordic electricity system and Germany)
(and 50 years of common planning). - Advanced operations (forecasting, etc.) and market design.
Source: Energinet