This paper introduces the special issue on Social Acceptance of Renewable Energy Innovation. It is a collection of best papers presented at an international research conference held in Tramelan (Switzerland) in February 2006. While there are ambitious government targets to increase the share of renewable energy in many countries, it is increasingly recognized that social acceptance may be a constraining factor in achieving this target. This is particularly apparent in the case of wind energy, which has become a subject of contested debates in several countries largely due to its visual impact on landscapes. This paper introduces three dimensions of social acceptance, namely socio-political, community and market acceptance. Factors influencing socio-political and community acceptance are increasingly recognized as being important for understanding the apparent contradictions between general public support for renewable energy innovation and the difficult realization of specific projects. The third dimension, market acceptance, has received less attention so far and provides opportunities for further research, particularly from management scholars.

a r t i c l e i n f o a b s t r a c tThis paper proposes a model of how incumbents and new entrants engage in sustainable entrepreneurship. We suggest that in the early stages of an industry's sustainability transformation, new entrants ('Emerging Davids') are more likely than incumbents to pursue sustainability-related opportunities. Incumbents react to the activities of new entrants by engaging in corporate sustainable entrepreneurship activities. While these 'Greening Goliaths' are often less ambitious in their environmental and social goals, they may have a broader reach due to their established market presence. This paper analyses the interplay between 'Greening Goliaths' and 'Emerging Davids' and theorizes about how it is their compounded impact that promotes the sustainable transformation of industries.

Eco-labelling is an important tool to overcome market failure due to information asymmetries for environmental products. While previous research has discussed the importance of labelling, this paper provides empirical data on the influence of ecolabels on consumer behaviour for household appliances. It reports on the results of a survey involving a total of 151 choice-based conjoint interviews conducted in Switzerland in Spring 2004. Choice-based conjoint analysis (also known as discrete choice) has been applied to reveal the relative importance of various product attributes for consumers. The EU energy label is used for the product category chosen in our survey, washing machines, and we investigate the relative importance of this eco-label compared with other product features (such as brand name) in consumers' purchasing decisions. We draw conclusions for sustainability marketing and policy.

This paper introduces the special issue on Strategic Choices for Renewable Energy Investment, which is a collection of best papers presented at an international research conference held in St. Gallen (Switzerland) in February 2010. Substantial private investment is needed if public policy objectives to increase the share of renewable energy and prevent dangerous anthropogenic climate change are to be achieved. The aim of this paper, and the entire special issue, is to draw scholarly attention to the processes underlying strategic choices for renewable energy investment, and how they are influenced by energy policy. We disentangle the role of risk-return perceptions, portfolio effects and path dependence in explaining energy investment decisions, and suggest that the heterogeneous universe of investors requires a segmentation of policies. The paper outlines some of the rich opportunities for further research in this emerging area.

This paper reviews the development of renewable energy in Germany from 1973 to 2003. It investigates the relative importance of energy policy and green power marketing in shaping the renewable energy market. More than a decade of consistent policy support for renewables under the feed-in law (StrEG) and its successor (EEG) has been an important driver for increasing renewable electricity generation to date, putting the country in a better position than most of its peers when it comes to achieving European Union targets for renewable energy. Green power marketing driven by customer demand, on the other hand, is growing, but has had limited measurable impact so far. We discuss potential intangible benefits of green power marketing and scenarios for future market development. The paper concludes with lessons that can be learned from the German case for policy design and market development in other countries. r

a b s t r a c tGovernments around the world have adopted ambitious targets to increase the share of renewable energy and reduce greenhouse gas emissions. They pursue a variety of policy approaches to achieve these targets. It has been a popular theme for contributions in Energy Policy to investigate the effectiveness of such policies. This article adds a new perspective to the debate, namely looking at the policy preferences of private investors in innovative clean energy technology firms. We surveyed 60 investment professionals from European and North American venture capital and private equity funds and asked them to assess the effectiveness of various policies, in terms of stimulating their interest to invest in innovative clean energy technologies. In addition to quantitative rankings, we use qualitative interview data to capture additional information on why investors prefer some policies over others. The combined analysis compensates for the inherent limitations of a quantitative ranking using generic policy types. The results of this exploratory analysis demonstrate that, all other things being equal, investors in our sample perceived feed-in tariffs to be the most effective renewable energy policy. The overall preference for feed-in tariffs is even more pronounced among investors based in Europe and with higher exposure to clean energy.

This article appeared in a journal published by Elsevier. The attached copy is furnished to the author for internal non-commercial research and education use, including for instruction at the authors institution and sharing with colleagues. Other uses, including reproduction and distribution, or selling or licensing copies, or posting to personal, institutional or third party websites are prohibited. In most cases authors are permitted to post their version of the article (e.g. in Word or Tex form) to their personal website or institutional repository. Authors requiring further information regarding Elsevier's archiving and manuscript policies are encouraged to visit: http://www.elsevier.com/copyright

Products with a superior environmental performance, such as a high level of energy efficiency, are typically subject to information asymmetries. Therefore these product attributes are often undervalued in purchase decisions. Signaling, e.g. energy labeling, can overcome these asymmetries, with positive implications for effective consumer decisions, competitive advantage for suppliers of energy-efficient goods, and for societal goals such as mitigating climate change. However, there is a scarcity of research investigating how energy labels actually influence consumer choice. The recent revision of the European Union energy label provided a unique opportunity to investigate the effectiveness of energy labeling in a quasi field-experimental setting. We show that the proposed extension of the seven-point A-G rating scale by adding new classes A+, A++, etc. will result in a lower perceived importance of energy efficiency in consumer decision-making. Based on a stated preference survey investigating 2244 choices by German consumers, we conclude that the revision actually undermines the label's ability to overcome information asymmetries, hence potentially contributing to market failure.