[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/eee/enepol/v97y2016icp112-122.html
   My bibliography  Save this article

What are community energy companies trying to accomplish? An empirical investigation of investment motives in the German case

Author

Listed:
  • Holstenkamp, Lars
  • Kahla, Franziska
Abstract
Community energy has become an increasingly important issue in academia and in energy policy circles worldwide. Citizens jointly investing in and operating renewable energy installations have played an essential role in countries such as Germany or Denmark. Building on and extending previous studies, we collect survey data on investment motives for a stratified random sample of German community energy companies. Structural variables are selected using a socio-ecological-technical systems framework. This study aims to identify differences within the community energy sector to better understand investment behaviour and the effects of policy changes. Despite the small sample coverage at the individual member level, the preliminary results of this study suggest that, first, community energy forms a specific type of social investment and that, second, there are significant differences between community energy companies, especially regarding the assessment of the return motive. This motive plays a more prominent role in limited partnerships than in cooperatives and for community wind than for companies focusing on solar or biomass. While these and other factors are highly interrelated, our data indicate that the social setting and geographical and climatic conditions are the critical ones here. These findings may guide further research.

Suggested Citation

  • Holstenkamp, Lars & Kahla, Franziska, 2016. "What are community energy companies trying to accomplish? An empirical investigation of investment motives in the German case," Energy Policy, Elsevier, vol. 97(C), pages 112-122.
    • Handle: RePEc:eee:enepol:v:97:y:2016:i:c:p:112-122
    DOI: 10.1016/j.enpol.2016.07.010
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301421516303627
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.enpol.2016.07.010?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Boon, Frank Pieter & Dieperink, Carel, 2014. "Local civil society based renewable energy organisations in the Netherlands: Exploring the factors that stimulate their emergence and development," Energy Policy, Elsevier, vol. 69(C), pages 297-307.
    2. Derwall, Jeroen & Koedijk, Kees & Ter Horst, Jenke, 2011. "A tale of values-driven and profit-seeking social investors," Journal of Banking & Finance, Elsevier, vol. 35(8), pages 2137-2147, August.
    3. Walker, Gordon, 2008. "What are the barriers and incentives for community-owned means of energy production and use?," Energy Policy, Elsevier, vol. 36(12), pages 4401-4405, December.
    4. Pier Angelo Mori, 2013. "Customer ownership of public utilities: new wine in old bottles," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 2(1), pages 54-74, August.
    5. Walker, Gordon & Devine-Wright, Patrick, 2008. "Community renewable energy: What should it mean," Energy Policy, Elsevier, vol. 36(2), pages 497-500, February.
    6. van der Schoor, Tineke & Scholtens, Bert, 2015. "Power to the people: Local community initiatives and the transition to sustainable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 43(C), pages 666-675.
    7. Bomberg, Elizabeth & McEwen, Nicola, 2012. "Mobilizing community energy," Energy Policy, Elsevier, vol. 51(C), pages 435-444.
    8. Bauwens, Thomas, 2016. "Explaining the diversity of motivations behind community renewable energy," Energy Policy, Elsevier, vol. 93(C), pages 278-290.
    9. Seyfang, Gill & Park, Jung Jin & Smith, Adrian, 2013. "A thousand flowers blooming? An examination of community energy in the UK," Energy Policy, Elsevier, vol. 61(C), pages 977-989.
    10. Debor, Sarah, 2014. "The socio-economic power of renewable energy production cooperatives in Germany: Results of an empirical assessment," Wuppertal Papers 187, Wuppertal Institute for Climate, Environment and Energy.
    11. Maruyama, Yasushi & Nishikido, Makoto & Iida, Tetsunari, 2007. "The rise of community wind power in Japan: Enhanced acceptance through social innovation," Energy Policy, Elsevier, vol. 35(5), pages 2761-2769, May.
    12. Rogers, Jennifer C. & Simmons, Eunice A. & Convery, Ian & Weatherall, Andrew, 2012. "Social impacts of community renewable energy projects: findings from a woodfuel case study," Energy Policy, Elsevier, vol. 42(C), pages 239-247.
    13. Rogers, J.C. & Simmons, E.A. & Convery, I. & Weatherall, A., 2008. "Public perceptions of opportunities for community-based renewable energy projects," Energy Policy, Elsevier, vol. 36(11), pages 4217-4226, November.
    14. Yalçın-Riollet, Melike & Garabuau-Moussaoui, Isabelle & Szuba, Mathilde, 2014. "Energy autonomy in Le Mené: A French case of grassroots innovation," Energy Policy, Elsevier, vol. 69(C), pages 347-355.
    15. Walker, Gordon & Devine-Wright, Patrick & Hunter, Sue & High, Helen & Evans, Bob, 2010. "Trust and community: Exploring the meanings, contexts and dynamics of community renewable energy," Energy Policy, Elsevier, vol. 38(6), pages 2655-2663, June.
    16. Benjamin HUYBRECHTS & Sybille MERTENS, 2014. "The Relevance Of The Cooperative Model In The Field Of Renewable Energy," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 85(2), pages 193-212, June.
    17. Dóci, Gabriella & Vasileiadou, Eleftheria, 2015. "“Let׳s do it ourselves” Individual motivations for investing in renewables at community level," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 41-50.
    18. Barry, Martin & Chapman, Ralph, 2009. "Distributed small-scale wind in New Zealand: Advantages, barriers and policy support instruments," Energy Policy, Elsevier, vol. 37(9), pages 3358-3369, September.
    19. Musall, Fabian David & Kuik, Onno, 2011. "Local acceptance of renewable energy--A case study from southeast Germany," Energy Policy, Elsevier, vol. 39(6), pages 3252-3260, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Berka, Anna L. & Creamer, Emily, 2018. "Taking stock of the local impacts of community owned renewable energy: A review and research agenda," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 3400-3419.
    2. Bauwens, Thomas, 2019. "Analyzing the determinants of the size of investments by community renewable energy members: Findings and policy implications from Flanders," Energy Policy, Elsevier, vol. 129(C), pages 841-852.
    3. Busch, Henner & Ruggiero, Salvatore & Isakovic, Aljosa & Hansen, Teis, 2021. "Policy challenges to community energy in the EU: A systematic review of the scientific literature," Renewable and Sustainable Energy Reviews, Elsevier, vol. 151(C).
    4. Dalia Streimikiene & Tomas Baležentis & Artiom Volkov & Mangirdas Morkūnas & Agnė Žičkienė & Justas Streimikis, 2021. "Barriers and Drivers of Renewable Energy Penetration in Rural Areas," Energies, MDPI, vol. 14(20), pages 1-28, October.
    5. Klein, Sharon J.W. & Coffey, Stephanie, 2016. "Building a sustainable energy future, one community at a time," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 867-880.
    6. Chiara Candelise & Gianluca Ruggieri, 2017. "Community Energy in Italy: Heterogeneous institutional characteristics and citizens engagement," IEFE Working Papers 93, IEFE, Center for Research on Energy and Environmental Economics and Policy, Universita' Bocconi, Milano, Italy.
    7. Thomas Hoppe & Antonia Graf & Beau Warbroek & Imke Lammers & Isabella Lepping, 2015. "Local Governments Supporting Local Energy Initiatives: Lessons from the Best Practices of Saerbeck (Germany) and Lochem (The Netherlands)," Sustainability, MDPI, vol. 7(2), pages 1-32, February.
    8. Proudlove, Richard & Finch, Sue & Thomas, Sebastian, 2020. "Factors influencing intention to invest in a community owned renewable energy initiative in Queensland, Australia," Energy Policy, Elsevier, vol. 140(C).
    9. Brummer, Vasco, 2018. "Community energy – benefits and barriers: A comparative literature review of Community Energy in the UK, Germany and the USA, the benefits it provides for society and the barriers it faces," Renewable and Sustainable Energy Reviews, Elsevier, vol. 94(C), pages 187-196.
    10. Conradie, Peter D. & De Ruyck, Olivia & Saldien, Jelle & Ponnet, Koen, 2021. "Who wants to join a renewable energy community in Flanders? Applying an extended model of Theory of Planned Behaviour to understand intent to participate," Energy Policy, Elsevier, vol. 151(C).
    11. Beau Warbroek & Thomas Hoppe & Frans Coenen & Hans Bressers, 2018. "The Role of Intermediaries in Supporting Local Low-Carbon Energy Initiatives," Sustainability, MDPI, vol. 10(7), pages 1-28, July.
    12. Fouladvand, Javanshir & Aranguren Rojas, Maria & Hoppe, Thomas & Ghorbani, Amineh, 2022. "Simulating thermal energy community formation: Institutional enablers outplaying technological choice," Applied Energy, Elsevier, vol. 306(PA).
    13. Jay Sterling Gregg & Sophie Nyborg & Meiken Hansen & Valeria Jana Schwanitz & August Wierling & Jan Pedro Zeiss & Sarah Delvaux & Victor Saenz & Lucia Polo-Alvarez & Chiara Candelise & Winston Gilcrea, 2020. "Collective Action and Social Innovation in the Energy Sector: A Mobilization Model Perspective," Energies, MDPI, vol. 13(3), pages 1-24, February.
    14. Grashof, Katherina, 2019. "Are auctions likely to deter community wind projects? And would this be problematic?," Energy Policy, Elsevier, vol. 125(C), pages 20-32.
    15. Mignon, Ingrid & Rüdinger, Andreas, 2016. "The impact of systemic factors on the deployment of cooperative projects within renewable electricity production – An international comparison," Renewable and Sustainable Energy Reviews, Elsevier, vol. 65(C), pages 478-488.
    16. Salm, Sarah & Hille, Stefanie Lena & Wüstenhagen, Rolf, 2016. "What are retail investors' risk-return preferences towards renewable energy projects? A choice experiment in Germany," Energy Policy, Elsevier, vol. 97(C), pages 310-320.
    17. Ebers Broughel, Anna & Hampl, Nina, 2018. "Community financing of renewable energy projects in Austria and Switzerland: Profiles of potential investors," Energy Policy, Elsevier, vol. 123(C), pages 722-736.
    18. Mumtaz Derya Tarhan, 2015. "Renewable Energy Cooperatives: A Review of Demonstrated Impacts and Limitations," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 4(1), pages 104-120, August.
    19. Dóci, Gabriella & Vasileiadou, Eleftheria, 2015. "“Let׳s do it ourselves” Individual motivations for investing in renewables at community level," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 41-50.
    20. Hoicka, Christina E. & MacArthur, Julie L., 2018. "From tip to toes: Mapping community energy models in Canada and New Zealand," Energy Policy, Elsevier, vol. 121(C), pages 162-174.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:97:y:2016:i:c:p:112-122. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/enpol .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.