{"product_id":"funding-renewables-powering-change-von-michael","title":"Funding Renewables: Powering Change","description":"The energy policy shaping space is influenced by the demands of sustainability goals, associated\nwith the complexity of the socio-economic and biophysical systems. Rising fossil fuel prices, societal\nimpacts of energy use and observed climate change make the exploration of renewable energy\nmore important than ever (Kowalski et al., 2008). This paradigm shift, combined with the\nconsiderable amount of infrastructure and investment required for renewable energy, has led to\nan increasing presence of private and institutional investors including insurers, exposed to various\nrisks.\nAccording to the US Energy Information Administration (EIA), world energy consumption will grow\nby 48% between the period 2012-2040 (US EIA, 2017: online). This trend is attributable to strong\neconomic growth emerging from Non- Organisation for Economic Cooperation and Development\n(OECD) countries (US EIA, 2017: online), including South Africa. Working as an alternative to fossil\nfuels, renewable energy technologies will play an integral role in meeting the world’s growing\nenergy demand adding to the global energy mix (IRENA, 2016:14). Furthermore, the share of\nrenewables in the global energy mix can be cost-effectively doubled by 2030 using existing\ntechnologies. Along with energy conservation practices, an overall improvement in the global\nenergy profile can be achieved which would significantly reduce greenhouse gas emissions and put\nthe world on track to limit global mean temperature rise to below 2° Celsius (IRENA, 2016:14). This\nlevel of renewable energy deployment means scaling up current investment in renewables to 500\nbillion US dollars (USD) per year by 2020. Global investment must then reach USD 900 billion each\nyear up to 2030 (IRENA, 2016:14). Almost two-thirds of this investment would be in the power\nsector, but renewables for heat and transport also need to grow significantly. Developing markets\nwith fast growing energy demand will require the largest increase in investment (IRENA, 2016:14)\nThe South African energy sector underwent a shock, signified by a shortage in bulk electricity which\nwas declared a national emergency in 2008, and in 2014. Eskom underwent other disturbances in\nenergy supply when in 2015 it implemented 99 days of load shedding causing a decrease in mining\nand manufacturing output\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783384225450\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783384225450","offer_id":48645872156997,"sku":"9783384225450","price":26.59,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/ced00ad9-e627-419c-bab7-a00595ac9cce.jpg?v=1776490732","url":"https:\/\/shop.autorenwelt.de\/products\/funding-renewables-powering-change-von-michael","provider":"Autorenwelt Shop","version":"1.0","type":"link"}