Over the past few weeks, we have presented various examples from different renewable energy sectors where alternative financing models have been chosen. To sum up the campaign, read here our lessons learnt for the development of the CROWDTHERMAL approach:
- For different phases in the development of a project, different types of funding are suitable. Community funding can be useful to involve the community in the creation of a sustainable energy facility but what type of funding can be used depends on the type of involvement the community is interested in. Developing community members (like the gardeners in the Koekoekspolder project) who are motivated participants from the start can be interested in high risk involvement. More distant communities whose advantages are limited will look for safer investment options. So, match your financial instruments to the risk appetite of your community!
2. Secondly research about legal entities and consequences is very important before you start. Goodwill may be lost if an initiative cannot be matched to an existing legal structure. Rules concerning financial entities and energy products may vary significantly between member states so research in that area is also required before adopting a successful international model.
3. And last but not least, the community is often very interested to be involved in the development of sustainable energy projects, although the level of involvement wanted may differ. The level of involvement wanted may differ between different groups within the community. Providing the right information and education is crucial in determining to what level certain community groups want to be involved and thus reaching the social acceptance of the project by the community as a whole.
For more information, check the full report at https://bit.ly/2RY2iRY.