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Financing the civic energy sector: How financial institutions affect ownership models in Germany and the United Kingdom

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posted on 2023-06-09, 00:02 authored by Stephen Hall, Tim FoxonTim Foxon, Ronan Bolton
This paper examines the relations between financing institutions and more local ownership structures for energy provision. This research defines municipal and civil society structures involved in energy provision as the ‘Civic Energy Sector’. It argues that the financial institutions of nations are key enabling institutions for this sector to contribute to a low carbon energy transition. The path of development of these financial institutions helps to shape the ownership structures and technology choices of energy systems and futures in different nations. This paper presents findings from case analysis comparing the United Kingdom’s latent civic energy sector, with the expansion of this sector in Germany. Using an institutional economics framing, the paper demonstrates the importance of the German local banking sector in facilitating civic ownership structures in that country. In contrast, the neo-liberal, market-led financial institutions in the UK, reinforce energy pathways less reliant on civic ownership models. Hence, the forms of low carbon energy transition being pursued in these countries are constrained by path dependence of institutions both within and beyond the energy sector.

History

Publication status

  • Published

File Version

  • Published version

Journal

Energy Research & Social Science

ISSN

2214-6296

Publisher

Elsevier

Volume

12

Page range

5-15

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2016-01-18

First Open Access (FOA) Date

2016-01-18

First Compliant Deposit (FCD) Date

2016-01-15

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