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Policy combinations to navigate between private and public monopolies in emerging technological sectors
Vanrykel, Fanny; Bourgeois, Marc; Peeters, Bart et al.
201617th Global Conference on Environmental Taxation (GCET)
 

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Keywords :
environmental taxation; geothermal; incentives
Abstract :
[en] Finance is one of the main critical issues for the development of a low carbon society especially during times of economic recession. Closing this green investment gap will require policy intervention. This paper is part of a larger research project – the ALPI project – which aims at analysing and designing relevant instruments to accelerate the transition towards a low carbon society. As a showcase of emerging technologies in Belgium, the Hasselt University, the University of Liège and the Geological Survey of Belgium are investigating the regional potential for geothermal electricity production. Deep geothermal energy appears to be currently on the edge of a take-off. But the actual emergence of this technology is subject to developments in legislation and incentives from regional governments. Different risk/return expectations across stages of the investment continuum exist and the financial structures that are employed at each stage may require different types of public support. Considering the particularities of the development of geothermal energy in Belgium, we present different combinations of incentives to support geothermal energy, and we review different sector evolutions through a broad stakeholder consultation (policy makers, sector federations, industry, researchers, banking sector, investors, etc.). However, a review of the learning effects shows that neither of the two combinations can prevent a regional monopolisation of the underground as a natural resource either by a private first-mover, or a public investor. Therefore, intermediary solutions are proposed to provide a balance between the two extremes, and to ensure an improved sector growth and a continuous open market.
Research center :
Tax Institute
Disciplines :
Tax law
Author, co-author :
Vanrykel, Fanny ;  Université de Liège > Département de droit > Droit public
Bourgeois, Marc  ;  Université de Liège > Département de droit > Droit fiscal
Peeters, Bart;  Université de Gand
Maes, Dries;  Université d'Hasselt
Petitclerc, Estelle;  RBINS
Language :
English
Title :
Policy combinations to navigate between private and public monopolies in emerging technological sectors
Publication date :
September 2016
Event name :
17th Global Conference on Environmental Taxation (GCET)
Event place :
Groningen, Netherlands
Event date :
22 et 23 septembre 2016
Audience :
International
Name of the research project :
Assessment of Low Carbon Society Policy Instruments (ALPI) http://www.alpi.ugent.be/index.html
Available on ORBi :
since 29 August 2017

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