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Energy Investment in Smart Cities Unlocking Financial Instruments in Europe

Energy Investment in Smart Cities Unlocking Financial Instruments in Europe

Francesca Romana Medda, Candace Partridge, Gianni Carbonaro
Copyright: © 2018 |Pages: 25
ISBN13: 9781522556466|ISBN10: 152255646X|EISBN13: 9781522556473
DOI: 10.4018/978-1-5225-5646-6.ch040
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MLA

Medda, Francesca Romana, et al. "Energy Investment in Smart Cities Unlocking Financial Instruments in Europe." E-Planning and Collaboration: Concepts, Methodologies, Tools, and Applications, edited by Information Resources Management Association, IGI Global, 2018, pp. 818-842. https://doi.org/10.4018/978-1-5225-5646-6.ch040

APA

Medda, F. R., Partridge, C., & Carbonaro, G. (2018). Energy Investment in Smart Cities Unlocking Financial Instruments in Europe. In I. Management Association (Ed.), E-Planning and Collaboration: Concepts, Methodologies, Tools, and Applications (pp. 818-842). IGI Global. https://doi.org/10.4018/978-1-5225-5646-6.ch040

Chicago

Medda, Francesca Romana, Candace Partridge, and Gianni Carbonaro. "Energy Investment in Smart Cities Unlocking Financial Instruments in Europe." In E-Planning and Collaboration: Concepts, Methodologies, Tools, and Applications, edited by Information Resources Management Association, 818-842. Hershey, PA: IGI Global, 2018. https://doi.org/10.4018/978-1-5225-5646-6.ch040

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Abstract

The intense pressures being brought to bear by the increasing diversity in European urban development patterns call for innovative funding mechanisms to promote smart sustainable urban development, most notably in the energy sector. Currently in Europe, various policy initiatives support sustainable urban development through financial engineering mechanisms operating at municipal and regional scales. The objective of this chapter is to review the main financial mechanisms focusing on energy, and in particular on urban investments committed to a highly energy-efficient, and low carbon, economy. Within this framework we assert that, in order to achieve the EU sustainable urban development outcomes, specific European financial instruments will need to be considered as viable key investment options. The structure and operational features of European Financial Instruments are explored here in the case of the Urban Development Fund implemented in London. We also discuss the importance of ESCOs and crowdfunding as essential funding sources for community energy projects, and suggest that European policy should recognise their importance.

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