Historical Analysis of Investment in Solar Energy Technologies (2000-2007)

Abstract

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Protecting innovative niches in the green economy: investigating the rise and fall of Solyndra, 2005–2011

“…The global solar industry emerged rapidly in the 2000s, mirroring the rise in environmental technology investments more broadly over the same time period. Globally, solar power investments grew from US$ 66 million in 2000, to US$ 2.5 billion in 2005, to US$ 136.6 billion by the end of 2011 (Jennings et al 2008;McCrone 2012). The US solar market mirrored these rapid investment inflows, especially since 2005: while capital investments in solar energy (including government-funded R&D) increased slightly in 2000-2004, from US$ 164 million to US$ 215 million per annum, there was a rapid increase in yearly investment by 2007, to US$ 3.2 billion.…”

“…The US solar market mirrored these rapid investment inflows, especially since 2005: while capital investments in solar energy (including government-funded R&D) increased slightly in 2000-2004, from US$ 164 million to US$ 215 million per annum, there was a rapid increase in yearly investment by 2007, to US$ 3.2 billion. By 2007, over 95 % of solar investments in the US originated from the private sector, predominantly from public and private equity and venture capital (Jennings et al 2008).…”

Retrospective Benefit-Cost Evaluation of DOE Investment in Photovoltaic Energy Systems

“…The market for PV systems is global and driven by public policy initiatives (Jennings et al, 2008;Wiser et al, 2009). Feed-in tariffs, renewable energy portfolio standards, tax credits, and rebates create a demand-side pull that accelerate the accumulation of PV installations.…”

“…The authors reviewed installed cost reductions from gains in nonmodule PV system components and reviewed how wide-ranging and intermittent federal, state, and local rebates and incentives influenced the installed cost over time. Jennings et al (2008) reviewed the rapid introduction of private equity financing (venture capital) into the PV space from 2000 to 2007. In their introduction, the authors highlight the more than 20-year role of public-sector financing in supporting the industry and improving the risk profile to the point where professional investment groups were willing to invest.…”

“…In their introduction, the authors highlight the more than 20-year role of public-sector financing in supporting the industry and improving the risk profile to the point where professional investment groups were willing to invest. Both Wiser et al (2009) and Jennings et al (2008) underscore the historical importance of demand-side incentives for building the market for and demand for PV systems.…”