Investments into forest biorefineries under different price and policy structures

Kangas, Hanna-Liisa; Lintunen, Jussi; Pohjola, Johanna; Hetemäki, Lauri; Uusivuori, Jussi

doi:10.1016/j.eneco.2011.04.008

Cited by 32 publications

(18 citation statements)

References 6 publications

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“…Fleten et al, 2007;Kangas et al, 2011) and who make their investment decisions based on comparisons between different electricity production plants (cf. Awerbuch, 2000;Fleten et al, 2007;Gross et al, 2010;Koo et al, 2011;Neuhoff et al, 2008;Pettersson and Söderholm, 2009;Söderholm et al, 2007).…”

Section: Introductionmentioning

confidence: 99%

Who invests in renewable electricity production? Empirical evidence and suggestions for further research

Bergek¹,

Mignon²,

Sundberg³

2013

Energy Policy

133

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Tranforming energy systems to fulfill the needs of a low-carbon economy requires large investments in renewable electricity production (RES-E). Recent literature underlines the need to take a closer look at the composition of the RES-E investor group in order to understand the motives and investment processes of different types of investors. However, existing energy policies generally consider RES-E investments made on a regional or national level, and target investors who evaluate their RES-E investments according to least-cost high-profit criteria. We present empirical evidence to show that RES-E investments are made by a heterogeneous group of investors, that a variety of investors exist and that their formation varies among the different types of renewable sources. This has direct implications for our understanding of the investment process in RES-E and for the study of motives and driving forces of RES-E investors. We introduce a multi-dimensional framework for analyzing differences between categories of investors, which not only considers to the standard economic dimension which is predominant in the contemporary energy literature, but also considers the entrepreneurship, innovation-adoption and institutional dimensions. The framework emphasizes the influence of four main investor-related factors on the investment process which should be studied in future research: motives, background, resources and personal characteristics.

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Section: Introductionmentioning

confidence: 99%

Who invests in renewable electricity production? Empirical evidence and suggestions for further research

Bergek¹,

Mignon²,

Sundberg³

2013

Energy Policy

133

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“…Thus, biofuel offers also a new industrial opportunity, prompting forestry but also traditional energy companies to engage in biofuel production. (Hetemäki and Hänninen, 2009;Kangas et al, 2011) The advantages seem obvious. Small and medium sized enterprises in the forestry sector, which depend on leaders in the cluster and companies and which provide capital goods for the biofuel production will benefit.…”

Section: Introductionmentioning

confidence: 99%

The biofuel bubble in northern Sweden and Finland

Walter

2012

International Journal of Energy Sector Management

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Purpose -The purpose of this paper is to offer a critique of government intervention in the production of biofuel in northern Sweden and Finland, highlighting some of the welfare consequences. Design/methodology/approach -After a short review of government interventions, including laws, taxes and subsidies, Austrian economic principles are applied, which lead to universal statements about the impacts of government intervention. Findings -Government intervention on behalf of the biofuel production industry leads to the emergence of an investment bubble, with consequential negative impacts on welfare. Practical implications -The paper informs about the true costs of intervention in biofuel production, which suggests that policy makers may abstain from justifying interventions for the sake of increasing people's welfare. Originality/value -The paper contributes to the research of the production impacts of a new energy technology in the form of biofuel in particular and of governmental intervention in production in general. The paper, furthermore, enhances the use of the method and theory of the Austrian school of economic science.

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“…The data were gathered mostly from the Science Direct database (journal articles) and Google Scholar (other types of publications), using search terms related to outlook studies and future prospects of the forest sector. The sample covered 25 evidence-based outlook studies (e.g., Turner et al 2005;Mantau et al 2010;Raunikar et al 2010;Kangas et al 2011;UNECE/FAO 2011a;Wear and Greis 2011;Buongiorno et al 2012) and 11 qualitative outlook studies (e.g., Navarro et al 2008;Jonsson 2011;UNECE/FAO 2011b;FTP 2012). In addition, the paper reviewed the general foresight literature (e.g., Bell 2003, Glenn 2009) and applications from the energy sector (e.g., Vergragt and Quist 2011) to yield suggestions on how to improve the informational value of forest sector outlook studies.…”

Section: Background and Conceptual Frameworkmentioning

confidence: 99%

Long-term outlook for wood construction in Europe

Hurmekoski¹

2016

Diss. For.

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The aim of the study is to examine the factors affecting the market potential of wood construction in Europe towards 2030. The study takes three complementary perspectives: Past trends and current structures, future trends and uncertainties and measures required to meet the long-term targets of the industries.The methodological framework builds on combining quantitative, descriptive and participative research approaches. By adopting methods and approaches from the field of foresight, the study aims to contribute also to the methodology development for long-term forest sector outlook studies.The trends and pressures in the operating environment of construction were found to primarily relate to the need for reducing the environmental impact of construction and improving the quality and productivity of construction. However, few of the trends would appear to have decisive impact on the diffusion of wood construction. That is, the positive drivers might not translate into improved competitive advantage for wood construction to the extent often expected, due to the lack of willingness or ability to pay for the attributes exceeding the requirements posed by the building regulations. Instead, the cultural and structural hindrances culminating to the fragmented structure and risk-averse characteristics of the construction and wood products industries seem to create significant inertia for the diffusion of wood construction.Based on scenario analysis, the outlook would appear to be dependent on the possible regulatory push for green building and on the possible changes in the strategic orientations of the industries. However, the empirical part indicated that the short-term strategy and policy measures suggested by experts are regarded either as unlikely or as unattractive by the industry stakeholders. The results therefore suggest that the diffusion of wood construction in Europe is likely to be a gradual process, subject to significant inertia, and restricted to a few niche sub-sectors and regions towards 2030.

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Investments into forest biorefineries under different price and policy structures

Cited by 32 publications

References 6 publications

Who invests in renewable electricity production? Empirical evidence and suggestions for further research

Who invests in renewable electricity production? Empirical evidence and suggestions for further research

The biofuel bubble in northern Sweden and Finland

Long-term outlook for wood construction in Europe

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