The University of St. Gallen, Institute for Economy and the Environment,
(IWOe-HSG), with support from the Swiss Federal Office of Energy (SFOE),
invites the submission of papers from researchers in finance, management,
political science, psychology and other relevant disciplines as well as
experts from financial institutions and energy firms to the International
Research Conference "Understanding Strategic Choices for Renewable Energy
Investment - Latest Evidence from Research and Implications for Theory and
Practice" (St. Gallen, Switzerland, February 11-12, 2010). The deadline for
submissions is November 10, 2009.
Approximately 10-20 papers will be accepted and discussed. Please send your
submission (full paper with 6000-8000 words incl. abstract, plus a short
biography and contact information) by e-mail to Emanuela Menichetti,
emanuela.menichetti@unisg.ch. Authors who are unsure whether their paper
fits with the conference scope are invited to contact the organizers with an
abstract well ahead of the deadline. Authors whose papers are selected will
be notified by December 15, 2009. Revised versions of accepted papers have
to be received by January 31, 2010. A limited number of best papers will be
considered for a special issue of the journal Energy Policy
(www.elsevier.com/locate/enpol, Impact Factor 1.755). In order to be
selected for publication in the special issue, these papers will be subject
to a double-blind review process.
A step change is needed in renewable energy investments if the triple
challenge of ensuring climate change mitigation, energy security and
economic growth is to be met. Renewable energy technologies have the
potential to satisfy more than half of the worlds primary energy needs by
2050 as opposed to their current 13%. For clean technologies to fully
exploit their potential and contribute to the development of a new energy
economy, cooperation between public and private actors needs to be
strengthened. Scaling up investments requires a deeper understanding of the
link between policy, industry and financial investors.
An increasing body of literature has started investigating how policies
should be designed to mobilize investments in the renewable energy sector.
These studies however tend to provide only limited insights in the
investors perspective. The lack of emphasis on the investors side is an
important shortcoming in current research, which is being acknowledged in
management and finance literature. This research workshop aims at advancing
the knowledge in the specific topic of renewable energy investments, by
taking stock of the latest evidence from the international research
community. Empirically-based and theoretical contributions are welcome from
the following research areas:
* Management Science: What are the main drivers for organizations to invest,
or not, in renewable energy? Are there differences in the investment
decision process between corporate investors (e.g. energy utilities) and
financial investors, and why? How do business models of renewable energy
firms relate to their financial performance? What is the influence of
path-dependence in corporate investments? Is the entrepreneurial finance
process different in energy versus other industries?
* Cognitive Psychology: Which heuristics do investors use in deciding
whether or not to invest in renewable energy? How can a bounded rationality
perspective be fruitful in explaining energy investment trends? Which market
anomalies can be detected in the renewable energy investment sector, and how
can they be explained (e.g. herding)? How are risks perceived and assessed
by investors in renewable energy at individual, group and organisational
levels?
* Economics: How do macro-economic trends influence the decision to invest
in renewable energy? Which countries/world regions are expected to be
attracting the largest investments in renewables in the next 20 years, and
why? How has the global financial crisis impacted the investments in
renewable energy, and why? What is the effect of economic stimulus packages
on renewable energy investment?
* Finance: What are the metrics used in financial analysis of renewable
energy investments, and are they appropriate? How can behavioural finance
approaches enhance our understanding of energy investor behaviour? How do
pension funds and other institutional investors take portfolio allocation
decisions related to renewable energy? What are the benefits and challenges
of public-private partnerships to finance renewable energy projects?
* Political Science: How do policy risk and policy aversion influence the
decision to invest in renewables?; Why are some regulatory frameworks more
effective than others in attracting renewable energy investment? How can a
political economy perspective help to understand decisions to invest public
funds (e.g. pilot and demonstration grants) in either renewable or
non-renewable energy technologies (e.g. CCS)? How can community ownership
models be used to help finance renewable energy projects?
* Science and Technology Studies: How does path dependence influence the
adaption of energy R&D investments to the requirements of a renewable energy
future? How can case studies from financing innovation in other industries
help to understand investment patterns in energy innovation?
In addition to paper presentations, the workshop will include sessions that
aim to identify future research needs in the area of renewable energy
investment. Investment practitioners from financial institutions and other
stakeholders of the renewable energy industry will be invited to an expert
panel discussion in order to identify those areas of a future research
agenda that provide opportunities for pursuing academic and practical
relevance simultaneously.
Submissions to this research conference should be original research papers
that have not yet been published, or submitted for publication to an
academic journal. We are interested in a mix of papers spanning multiple
disciplines. International perspectives and cross-country comparisons are
encouraged as well as regional perspectives. Empirical, theoretical and
methodological papers are welcome. Because of the interdisciplinary nature
of the research focus, we encourage co-authorships between researchers with
complementary disciplinary backgrounds, as well as cooperations between
scholars and practitioners.
Authors are encouraged to follow Elseviers guidelines for manuscript
preparation (see
http://www.elsevier.com/wps/find/journaldescription.cws_home/30414/authorinstructions).
We hope to be able to offer partial funding for the travel, meals, and
lodging of presenters and discussants. More detailed information on
logistics and conference registration will be available on our website
http://goodenergies.iwoe.unisg.ch in December 2009. The conference will be
held in the scenic setting of St. Gallen, a UNESCO world heritage town
conveniently located in proximity from some of the splendid Swiss and
Austrian ski resorts, and yet only a one-hour train ride away from Zurich
international airport.
Any questions can be directed to Emanuela Menichetti
(
emanuela.menichetti@unisg.ch).
Scientific Committee:
* Mark Bolinger, Lawrence Berkeley National Laboratory
* Antonieta Cunha e Sá, School of Economics and Management, Universidade
Nova de Lisboa, Portugal
* Karl Frauendorfer, Operations Research und Computational Finance, Univ.
St. Gallen
* Reinhard Haas, Energy Economics, TU Wien
* Tetsunari Iida, Executive Director, Institute for Sustainable Energy
Policies, Tokyo
* Tomas Kåberger, Lund University and Swedish Energy Agency
* Eric Martinot, Institute for Sustainable Energy Policies, Tokyo
* Andrea Masini, Department of Management Science and Operations, London
Business School
* Nicole Mathys, Swiss Federal Office of Energy, Research Programme Energy
Economics and Policy
* Emi Mizuno, Centre for Energy Studies, Judge Business School University of
Cambridge
* Klaus-Peter Pischke, Head, Energy Sector and Policy Division, KfW
* Perry Sadorsky, Schulich School of Business, York University, Toronto
* Benjamin Sovacool, Lee Kuan Yew School of Public Policy, National
University of Singapore
* Cecilia Tam, Energy Technology Policy Division, International Energy Agency
* Bernhard Truffer, Eawag, Department Innovation Research in the Utility
Sectors (CIRUS)
* Eric Usher, Renewable Energy and Finance Unit, UNEP
* Christoph Weber, Chair for Management Sciences and Energy Economics,
University of Duisburg-Essen
* Ryan Wiser, Lawrence Berkeley National Laboratory
* Rolf Wüstenhagen (Chair), Good Energies Chair for Management of Renewable
Energies, University of St. Gallen
Organizers:
Emanuela Menichetti and Rolf Wüstenhagen, IWÖ-HSG, University of St. Gallen
http://goodenergies.iwoe.unisg.ch