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    A Model for Utilizing Spillover Taxes and Community-Based Funds to Fill the Green Energy Financing Gap in Asia

    Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad | December 2018
    Abstract
    In 2016, 88.90% of Asia and the Pacific’s primary energy consumption was from fossil fuel, and almost 40% of the global CO2 emissions were from Asia and the Pacific. In order to ensure the increasing energy needs of the region are in line with sustainable development goals, addressing the financing gaps of green-energy projects is critical. The major challenge for filling the financing gaps of green energy is the lower rate of return on green projects compared to fossil fuels. Electricity tariffs are often regulated by governments. Electricity has to be kept low in price to serve every household as a necessary good. Green energy’s sources of revenue are only from user charges. Hence, it is not so attractive to investors. This paper proposes a model for utilization of the tax revenue spillover from green-energy supply by returning a portion of the taxes to green-energy projects in order to increase their rate of return. In addition, the paper proposes a social community-based funding scheme for smaller-scale green projects (e.g., solar and wind). The paper theoretically shows that using this model for funding green-energy projects will increase the rate of return and make them feasible and interesting to private investors.
    Citation
    Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad. 2018. A Model for Utilizing Spillover Taxes and Community-Based Funds to Fill the Green Energy Financing Gap in Asia. © Asian Development Bank Institute. http://hdl.handle.net/11540/9369.
    Keywords
    Alternative energy
    Alternative energy development
    Photovoltaic Energy
    Geothermal Energy
    Urban Development Finance
    Trade Finance
    Small Business Finance
    Rural Finance
    Roundtable on International Trade and Finance
    Regional Development Finance
    Public Service Finance
    Public Finance
    Project Finance
    Private Finance
    Nonbank Financing
    Non-Bank Financial Institutions
    Municipal Finance
    Local Government Finance
    Local Currency Financing
    Limited Resource Financing
    International Financial Institutions
    Infrastructure Financing
    Industrial Finance
    Government Financial Institutions
    Government Finance
    Financing of Infrastructure
    Financial Sector Development
    Financial Regulation
    Alternative energy program
    Alternative energy technology
    Energy Demand
    Energy planning
    Energy Resources
    Energy Resources Development
    Primary Energy Production
    Primary Energy Supply
    Taxation
    Public Accounting
    National Budget
    Municipal Bonds
    Local Government
    Local Taxes
    International Monetary Relations
    International Financial Market
    International Banking
    Central Banks
    Business Financing
    Capital Resources
    Budgetary Policy
    Capital Needs
    Corporate Divestiture
    Capital Instruments
    Pension Funds
    Insurance Companies
    Banks
    Portfolio Management
    Fiscal Administration
    Economics of Education
    Development Banks
    Green technology
    Energy conversion
    Electric power consumption
    Cost effectiveness
    Inventions
    Sun
    Solar heating
    Solar energy
    Renewable energy source
    Power resource
    Natural resource
    Energy harvesting
    Energy development
    Energy facility
    Power supply
    Solar activity
    Solar constant
    Earth
    Weather
    Renewable energy resource
    Energy security
    Energy tax credit
    Energy assistance
    Solar energy policy
    Conservation of natural resources
    Use tax
    Taxing power
    State of taxation
    Tax-sales
    Tax revenue estimating
    Tax planning
    Spendings tax
    Special assessments
    Tax administration and procedure
    Sales tax
    Real property and taxation
    Progressive taxation
    Effect of taxation on land use
    Effect of taxation on labor supply
    Intergovernmental tax relations
    Inheritance and transfer tax
    Energy tax
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    Citable URI
    http://hdl.handle.net/11540/9369
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    Author
    Yoshino, Naoyuki
    Taghizadeh-Hesary, Farhad
    Theme
    Energy
    Finance
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise