High-level panel III: Business Models and Smart Policies for Scaling up Renewable Energy
In this session, panellists will share insights and best practice examples on inclusive policy frameworks and business models for the scaling up of renewable energies that offer the right balance between risks and returns. Such solutions should be based on stable, predictable and agile policy frameworks that de-risk capital-intensive investment in renewable energy. Complementing this, new policy commitments should create a coherent policy framework in which existing resources are shifted to incentivize scaled-up investment in renewable energy, generating multiple economic, social and environmental benefits.
The utilization of renewable energy can support countries in becoming less dependent on energy imports, creating jobs for both women and men, promoting technological innovation, mitigating climate change and contributing to inclusive and sustainable development. Renewable energy sources provide an opportunity for countries to embrace a low carbon pathway powered by innovative, smart and locally relevant energy solutions. However, the potential of renewable energy continues to be limited by a lack of financial incentives in high risk markets with high transaction costs, and uncertainties of the resource base and energy price. This is combined with inadequate policies and regulatory frameworks, including complicated and lengthy planning/operational permits that result in a market environment fraught with uncertainties. In order to make renewable energy businesses viable in the long term it is vital to create an enabling market environment that promotes innovative business models and smart policies that include both financial incentives and technology transfer.
This session will principally focus on discussing best practice approaches to the development and implementation of policy frameworks and business models to mitigate the above-mentioned market and policy barriers, and promote the scaling up of renewable energies.
Session presentation 1.
Session presentation 2.