Scaling up the use of renewable energy is a key plank of building a genuinely low carbon energy system. This is needed to deliver both significantly reduced greenhouse gas emissions, greater energy security and resilience to volatile fuel prices, as well as access to modern energy.
Accessing greater finance and investment will be decisive to achieve higher levels of renewable energy (RE) uptake in developing countries. The scale of capital flows required are very significant indicating that private finance from outside national boundaries is likely to be required, alongside domestic sources of capital.
This paper, written for those involved in understanding and shaping policy, aims to provide an evidence-base from private sector financiers involved in developing countries identifying issues faced in making RE investments in the 2008-2009 period. This provides a basis for understanding conditions for scaling up investment in renewable energy. The focus is on scaled-up implementation of available RE technologies, rather than early-stage technology development.