We are currently seeing a deceleration of renewable energy growth in Europe. This is partly attributed to the challenges for financing renewable energy projects. Reduced access to conventional financing options over the past few years has triggered innovative financing schemes to emerge, with crowdfunding attracting a lot of attention.
CrowdFundRES, a three-year EUR 1.9M project funded by the European Union under the Horizon 2020 Framework Programme for Research and Innovation, is run by a consortium of 15 organisation from 8 different countries. Alongside the University of Dundee as the lead academic partner the consortium includes crowdfunding platforms, renewable energy project developers, media and legal specialists, industry associations and environmental groups across Europe.
The project seeks to contribute to the acceleration of renewable energy growth in Europe by unleashing the potential of crowdfunding for financing renewable energy projects. In order to achieve this, its aim is to gain a deeper understanding of the public’s perception of crowdfunding, and to develop guidelines to help inform the application of crowdfunding for renewable energy projects in Europe, and to improve market and regulatory frameworks.
The team at Dundee is led by Professor Matthias Klaes, together with Professor Bruce Burton and Dr Ariel Bergmann.
- Academic: Matthias Klaes
- Collaborators: WIP Renewable Energies, Osborne Clarke, European Crowdfunding Network, youris.com, GLOBAL2000, Abundance, Green Crowding, Lumo, OnePlanetCrowd, SolarPower Europe, REG, BNRG Renewables Ltd, Valorem
- Funding: European Union under the Horizon 2020 Framework Programme
- Project Value: EUR 1.9M
- Dates: February 2015 – January 2018