All for One and One for Green Energy: Community Renewable Investments in Europe
Community renewable energy (CRE) projects are gaining momentum in Europe and could play a significant role in reaching the EU’s accelerated decarbonisation goals. This is a key message that can be derived from this EconPol Policy Brief. Based on a survey across 31 European countries the authors find a high interest in community renewable investments, especially in countries where this model is not yet very common. However, the design of the project matters. The study finds that certain attributes lead to higher incentives for citizen investment. One decisive attribute is the form of the administrative entity. Most respondents prefer CREs to be run by a local cooperative rather than by a utility company. Another important finding of the survey is that the belief in economic benefits of renewable energy projects is a more important driver for citizen investment than the belief in general environmental benefits. Hence, if project developers and policymakers tailor CRE projects and campaigns according to local interests, this could lead to a significant increase in the uptake of CRE schemes throughout Europe.