SOLAR SECURITIZATION: CHALLENGES, FINANCIAL ARRANGEMENTS AND POLICY IMPLICATIONS

摘要

Having discussed both the benefits and costs of solar securitization, the logical question would be whether policymakers should actively promote solar securitization. In our opinion, policymakers should still take a positive stance towards solar securitization. Firstly, while the benefits of solar securitization are dependent on various sources of market uncertainties, those uncertainties can be actively managed with the right regulatory supervision. Moreover, as the need for renewable energy financing increases to meet the growing demand for cleaner energy resources, the market for solar securitization will inevitably develop on its own. Thus, forward-looking policymakers may benefit from setting the right investor protection and regulatory rules from the outset. Potential policies include the standardization of contractual and technical asset terms to ensure comparability and facilitate bundling of assets, building industry expertise through trade conferences and government issuances, incentivizing investor demand through direct fiscal incentives and indirect policy support for solar projects. Investor protection policies should also be considered.