Table of Contents

Renewable Energy Law in the EU

Renewable Energy Law in the EU

Legal Perspectives on Bottom-up Approaches

New Horizons in Environmental and Energy Law series

Edited by Marjan Peeters and Thomas Schomerus

This timely book examines the role played by regional authorities in the EU in the transition towards renewable energy. Drawing on both academia and practice, the expert contributors explore some of the key legal questions that have emerged along the energy transition path. Specific attention is paid to support mechanisms, administrative procedures for authorizing renewable energy projects, and opportunities for allowing citizens, particularly citizens living near renewable energy projects, participate financially in renewable energy production.

Chapter 12: Local investment schemes for renewable energy: A financial perspective

Lars Holstenkamp

Subjects: environment, environmental law, law - academic, energy law, environmental law, european law, politics and public policy, environmental politics and policy

Extract

Local community investment in renewable energy projects has been high on the political agenda in Germany in recent years. It is especially discussed with respect to the development of wind energy projects. There are several reasons for engaging citizens financially in renewable energy projects, with two motivations recurring in the discussion: First, it is presented as a measure to minimize the risk of a lack of acceptance, even if the direct relation between acceptance and participation is contested by some authors. Secondly, projects owned by local citizens are said to offer higher profit in the region. No matter how the relations are explained between local investment on the one hand, and acceptance, regional profit creation processes, or concepts such as legitimacy, efficiency or effectiveness on the other, these motivations are major political arguments for local investment schemes in the current German context. Yet, the term “local investment scheme” is hardly ever defined, but used loosely, so as to include many different types of projects or companies. Building on previous work by the author, this chapter therefore gives a brief outline of what might be called local investment schemes in a proper sense (or “community energy schemes”) and local investment schemes in a broader sense (or “mere financial participation”). The chapter aims to present an overview of different forms of community ownership and other forms of financial participation in the context of the German Energiewende (Section 2).

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