An exploratory investigation of barriers and enablers affecting investment in renewable companies and technologies in the UK

V Wells; F Greenwell; J Covey; HES Rosenthal; M Adcock; D Gregory-Smith

doi:10.1098/rsfs.2012.0039

An exploratory investigation of barriers and enablers affecting investment in renewable companies and technologies in the UK

V Wells, F Greenwell, J Covey, HES Rosenthal, M Adcock, D Gregory-Smith

The York Management School

Research output: Contribution to journal › Article › peer-review

Abstract

The last few years have seen considerable research expenditure on renewable fuel technologies. However, in many cases, the necessary sustained and longterm funding from the investment community has not been realized at a level needed to allow technologies to become reality. According to global consulting firm Deloitte's recent renewable energy report (http://www.deloitte. com/energypredictions2012), many renewable energy projects stalled or were not completed because of issues including the global economy, the state of government finances, difficulties in funding and regulatory uncertainty. This investigation concentrates on the funding aspect and explores the perceived barriers and enablers to renewable technologies within the investment and renewables community. Thematic analysis of 14 in-depth interviews with representatives from renewable energy producers, banks and investment companies identified key factors affecting the psychology of investor behaviour in renewables. Eight key issues are highlighted, including a range of barriers and enablers, the role of the government, balance between cost/risk, value/return on investment, investment time scales, personality/ individual differences of investors and the level of innovation in the renewable technology. It was particularly notable that in the findings the role of the government was discussed more than other themes and generally in quite critical terms, highlighting the need to ensure consistency in government funding and policy and a greater understanding of how government decisionmaking happens. Specific findings such as these illustrate the value of crossing disciplinary boundaries and highlight potential further research. Behavioural science and economic psychology in particular have much to offer at the interface of other disciplines such as political science and financial economics. © 2012 The Author(s) Published by the Royal Society. All rights reserved.

Original language	English
Number of pages	9
Journal	Interface Focus
Volume	3
Issue number	1
Early online date	21 Dec 2012
DOIs	https://doi.org/10.1098/rsfs.2012.0039
Publication status	Published - 6 Feb 2013

Bibliographical note

Access to Document

10.1098/rsfs.2012.0039

2013 Interface Focus Final Author PDF
© 2012 The Author(s)
Accepted author manuscript, 485 KB

Cite this

@article{b46a9ccc8d1546a19a05931981ce10ad,

title = "An exploratory investigation of barriers and enablers affecting investment in renewable companies and technologies in the UK",

abstract = "The last few years have seen considerable research expenditure on renewable fuel technologies. However, in many cases, the necessary sustained and longterm funding from the investment community has not been realized at a level needed to allow technologies to become reality. According to global consulting firm Deloitte's recent renewable energy report (http://www.deloitte. com/energypredictions2012), many renewable energy projects stalled or were not completed because of issues including the global economy, the state of government finances, difficulties in funding and regulatory uncertainty. This investigation concentrates on the funding aspect and explores the perceived barriers and enablers to renewable technologies within the investment and renewables community. Thematic analysis of 14 in-depth interviews with representatives from renewable energy producers, banks and investment companies identified key factors affecting the psychology of investor behaviour in renewables. Eight key issues are highlighted, including a range of barriers and enablers, the role of the government, balance between cost/risk, value/return on investment, investment time scales, personality/ individual differences of investors and the level of innovation in the renewable technology. It was particularly notable that in the findings the role of the government was discussed more than other themes and generally in quite critical terms, highlighting the need to ensure consistency in government funding and policy and a greater understanding of how government decisionmaking happens. Specific findings such as these illustrate the value of crossing disciplinary boundaries and highlight potential further research. Behavioural science and economic psychology in particular have much to offer at the interface of other disciplines such as political science and financial economics. {\textcopyright} 2012 The Author(s) Published by the Royal Society. All rights reserved.",

author = "V Wells and F Greenwell and J Covey and HES Rosenthal and M Adcock and D Gregory-Smith",

note = "{\textcopyright} 2012 The Author(s) ",

year = "2013",

month = feb,

day = "6",

doi = "10.1098/rsfs.2012.0039",

language = "English",

volume = "3",

journal = "Interface Focus",

issn = "2042-8898",

publisher = "The Royal Society",

number = "1",

}

TY - JOUR

T1 - An exploratory investigation of barriers and enablers affecting investment in renewable companies and technologies in the UK

AU - Wells, V

AU - Greenwell, F

AU - Covey, J

AU - Rosenthal, HES

AU - Adcock, M

AU - Gregory-Smith, D

PY - 2013/2/6

Y1 - 2013/2/6

N2 - The last few years have seen considerable research expenditure on renewable fuel technologies. However, in many cases, the necessary sustained and longterm funding from the investment community has not been realized at a level needed to allow technologies to become reality. According to global consulting firm Deloitte's recent renewable energy report (http://www.deloitte. com/energypredictions2012), many renewable energy projects stalled or were not completed because of issues including the global economy, the state of government finances, difficulties in funding and regulatory uncertainty. This investigation concentrates on the funding aspect and explores the perceived barriers and enablers to renewable technologies within the investment and renewables community. Thematic analysis of 14 in-depth interviews with representatives from renewable energy producers, banks and investment companies identified key factors affecting the psychology of investor behaviour in renewables. Eight key issues are highlighted, including a range of barriers and enablers, the role of the government, balance between cost/risk, value/return on investment, investment time scales, personality/ individual differences of investors and the level of innovation in the renewable technology. It was particularly notable that in the findings the role of the government was discussed more than other themes and generally in quite critical terms, highlighting the need to ensure consistency in government funding and policy and a greater understanding of how government decisionmaking happens. Specific findings such as these illustrate the value of crossing disciplinary boundaries and highlight potential further research. Behavioural science and economic psychology in particular have much to offer at the interface of other disciplines such as political science and financial economics. © 2012 The Author(s) Published by the Royal Society. All rights reserved.

AB - The last few years have seen considerable research expenditure on renewable fuel technologies. However, in many cases, the necessary sustained and longterm funding from the investment community has not been realized at a level needed to allow technologies to become reality. According to global consulting firm Deloitte's recent renewable energy report (http://www.deloitte. com/energypredictions2012), many renewable energy projects stalled or were not completed because of issues including the global economy, the state of government finances, difficulties in funding and regulatory uncertainty. This investigation concentrates on the funding aspect and explores the perceived barriers and enablers to renewable technologies within the investment and renewables community. Thematic analysis of 14 in-depth interviews with representatives from renewable energy producers, banks and investment companies identified key factors affecting the psychology of investor behaviour in renewables. Eight key issues are highlighted, including a range of barriers and enablers, the role of the government, balance between cost/risk, value/return on investment, investment time scales, personality/ individual differences of investors and the level of innovation in the renewable technology. It was particularly notable that in the findings the role of the government was discussed more than other themes and generally in quite critical terms, highlighting the need to ensure consistency in government funding and policy and a greater understanding of how government decisionmaking happens. Specific findings such as these illustrate the value of crossing disciplinary boundaries and highlight potential further research. Behavioural science and economic psychology in particular have much to offer at the interface of other disciplines such as political science and financial economics. © 2012 The Author(s) Published by the Royal Society. All rights reserved.

U2 - 10.1098/rsfs.2012.0039

DO - 10.1098/rsfs.2012.0039

M3 - Article

SN - 2042-8898

VL - 3

JO - Interface Focus

JF - Interface Focus

IS - 1

ER -