Overview of social attitudes and applications towards the use of crowdfunding in renewable energy
DOI:
https://doi.org/10.15678/SER.2023.3.05Keywords:
crowdfunding, sharing economy, renewable energyAbstract
Background: Crowdfunding has become a popular method for raising funds for various projects, including those related to renewable energy sources.
Research objectives: This paper aims to present crowdfunding and the social attitudes of the Poles towards its use in renewable energy sources.
Research design and methods: The first section discusses the theoretical assumptions of crowdfunding and presents the possibilities of using this form of financing in the renewable energy sector in Poland and worldwide. The second section of the paper is devoted to presenting the results of my research on the attitudes of Polish society towards renewable energy sources and the use of crowdfunding in the energy transition in Poland and worldwide. The paper uses literature analysis, criticism, comparative analysis, desk research, and a survey method.
Results: Crowdfunding is used extensively in various projects in the area of renewable energy sources. There is social support for this type of activity (especially in the age groups 18–29 and 30–44 years) and a growing awareness and openness to support initiatives in the area of renewable energy sources.
Conclusions: Based on the analysis, it was concluded that crowdfunding allows local actors to optimize their share of the economic benefits of solar energy projects, including solar energy, and to participate in the energy transition at the same time.
Downloads
References
Abundanceinvestment. (2023). Mobilise your money for good. https://www.abundanceinvestment.com/
Amit, R., & Zott, C. (2001). Value creation in e-business. Strategic Management Journal, 22, 493–520.
Better Invest. (2023). Your guide to short-term, high-yielding movie investments with BetterInvest. https://www.betterinvest.club/
Bi, S., Liu, Z., Usman, K. (2017). The influence of online information on investing decisions of reward-based crowdfunding. Journal of Business Research, 71(C). https://www.sciencedirect.com/science/article/abs/pii/S0148296316305707
Bonzanini, D., Giudici, G., Patrucco, A. (2016). The crowdfunding of renewable energy projects. In V. Ramiah, G. N. Gregoriou, Handbook of environmental and sustainable finance (pp. 429– 444). http://dx.doi.org/10.1016/B978-0-12-803615-0.00021-2.
Broniszewski, M. (2016). Rozwój podmiotów ekonomii społecznej w Polsce ze szczególnym uwzględnieniem regionu opolskiego – uwarunkowania instytucjonalnoorganizacyjne. Ekonomia Społeczna, 2, 38–47.
Cézanne, C., Rigot, C. S., Saglietto, L. (2021). Bibliometric analysis of research on renewable energy crowdfunding: An assessment and policy implications. Revue d'économie industrielle, 175(3e trimestre 2021), 9–39. https://doi.org/10.4000/rei.10604
Chesbrough, H. (2002). The role of the business model in capturing value from innovation: Evidence from Xerox Corporation’s technology spin-off companies. Industrial and Corporate Change, 11(3), 529–555. https://doi.org/10.1093/icc/11.3.529
Crowdfundme. (2023). Investi con CrowdFundMe. https://www.crowdfundme.it/
De Buysere, K., Gajda, O., Kleverlaan, R., & Marom, D. (2012). A Framework for European crowdfunding. Resource document. European Crowdfunding Network. https://ncfacanada.org/wp-content/uploads/2012/11/FRAMEWORK_EU_CROWDFUNDING-ECN.pdf
Dyląg, A., Kassenberg, A, Szymalski, W. (2019). Energetyka obywatelska w Polsce – analiza stanu i rekomendacje do rozwoju. Warsaw: Instytut na rzecz Ekorozwoju.
Eco Bazaar. (2023). Ecobazaar.pl
Ecoligo. (2023). Get invested in the climate fight. Fund solar projects. Get a return. Save the planet. https://ecoligo.com/en/
Enel Green Power. (2023). We’re making the energy transition process happen. For real. www.enelgreenpower.com
EnerFund. (2023). www.enerfunding.pl
Ethex. (2023). Make money do good. https://www.ethex.org.uk/
Gomez, P. Alonso., (2018). Crowdfunding Renewable Energy. A Practical Guide for Crowdfunding Platforms, Project Developers, Investors, and Policy Makers. CrowdFundRES.
Hansmann, H. (1987). Economic theories of nonprofit organization. In W. W. Powell (Ed.), The nonprofit sector: A research handbook (pp. 27–42). New Haven: Yale University Press.
Harrison, R. (2013), Crowdfunding and the revitalization of the early stage risk capital market: catalyst or chimera? Venture Capital, 15(4), 283–287.
Hervé, F., Schwienbacher, A. (2018). Crowdfunding and innovation. Journal of Economic Surveys, 32(1), 1514–1530. https://doi.org/10.1111/joes.12274
Huijben, J. C. C. M., Verbong, G. P. J. (2013). Breakthrough without subsidies? PV business model experiments in the Netherlands. Energy Policy, 56(C), 362–370. https://doi.org/10.1016/j.enpol.2012.12.073.
Jonek-Kowalska, I. (2020). Finansowanie podmiotów ekonomii społecznej a rozwój przedsiębiorczości społecznej w Polsce. Wnioski sprzed kryzysu wywołanego przez COVID-19 i refleksje pokryzysowe. In M. Ćwiklicki, K. Sienkiewicz-Małyjurek (Eds.), Ekonomia Społeczna. Przedsiębiorczość społeczna w czasie kryzysu (pp. 78–91). Kraków: Uniwersytet Ekonomiczny w Krakowie. https://doi.org/10.15678/ES.2020.2.07
Kaufmann, R. K, Newberry, D., Xin, C., & Gopal, S. (2021). Feedback among electric vehicle adoption, charging, and the cost and installation of rooftop solar photovoltaics. Nature Energy, 6, 143–149. http://dx.doi.org/10.1038/s41560-020-00746-w
Lam, P. T. I., Law, A. O. K. (2016). Crowdfunding for renewable and sustainable energy projects: An exploratory case study approach. Renewable and Sustainable Energy Reviews, 60, 11–20. http://dx.doi.org/10.1016/j.rser.2016.01.046
Lehner, O. M., (2013). Crowdfunding social ventures: a model and research agenda. Venture Capital, 15(4), 289–311. https://doi.org/10.1080/13691066.2013.782624
Mędrzycki, R. (2019). Odnawialne źródła energii w kontekście solidarności społecznej – wprowadzenie do problematyki. Internetowy Kwartalnik Antymonopolowy i Regulacyjny, 1(8). https://doi.org/10.18778/1429-3730.43.03
Mollick, E. (2014). The dynamics of crowdfunding: An exploratory study, Journal of Business Venturing, 29(1).
Morris, C., Jungjohann, A. (2016). Energy Democracy: Germany’s energiewende to renewables. Palgrave Macmillan.
Mosaic. (2023). Financing options for professional contractors. https://joinmosaic.com/
Nowiński, E. (2021). Transformacja energetyki a bezpieczeństwo energetyczne Polski. Nowa Energia, 3, 42–46.
Nyssens, M., S. A., & Johnson, T. (2006). Social enterprise: at the crossroads of market, public policies and civil society. Routledge Studies in the Management of Voluntary and Non-Profit Organizations. London and New York: Routledge.
Okraszewska, E. (2016). Demokracja energetyczna – społeczeństwo jako prosument energii elektrycznej, Gospodarka w Praktyce i Teorii, 43(2), 39–50. http://dx.doi.org/10.18778/1429-3730.43.03
PolakPotrafi. (2023). https://polakpotrafi.pl/projekty/?cat=inne
Pomagam.pl. (n.d.). https://pomagam.pl/
Rifkin J. (2011). The third industrial revolution: How lateral power is transforming energy, the economy, and the world. Palgrave MacMillan.
Schwienbacher, A. & Larralde, B. (2010). Crowdfunding of small entrepreneurial ventures. In D. Cumming (Ed.), Handbook of Entrepreneurial Finance (pp. 369–391). Oxford University Press. http://dx.doi.org/10.2139/ssrn.1699183
Sobol, A. (2014). Crowdfunding jako oddolne narzędzie realizacji zrównoważonego rozwoju. Studia i Prace Wydziału Nauk Ekonomicznych i Zarządzania, 37(2), 137–146.
Stasik, A. (2018). Zastosowanie crowdfundingu we wspieraniu innowacji w dziedzinie zielonej energii: przegląd praktyk oraz diagnoza potencjału i barier, E-mentor, 1(73). https://cejsh.icm.edu.pl/cejsh/element/bwmeta1.element.desklight-430f23d6-3125-4907-855c-19afce184686.
Steinberg, S. (2012). The crowdfunding Bible: How to raise money for any startup, video game or project. Lulu.com.
Tkacz, M. (2016). New generation of social entrepreneurs: Exploratory research and cross case study analysis of new generation of social enterprises. Ekonomia Społeczna, 2, 20–37. https://doi.org/10.15678/ES.2016.2.02
Tokarski, S. (2022). Co się zmieni po wybuchu wojny na Ukrainie? Nowa.a Energia, 2(83), 10–16.
Trine. (2023). It’s easy to invest in a greener future. https://trine.com/
Wasilewski, J., Kaleta, M., Baczyński, D. (2015). Selected issues of energy microgrid development in Poland, Polityka Energetyczna – Energy Policy Journal, 18(1), 45–58.
Wheat, R. E., Wang, Y., Byrnes, J. E., Ranganathan, J., (2013). Raising money for scientific research through crowdfunding. Trends in Ecology & Evolution, 28(228), 71–72. https://doi.org/10.1016/j.tree.2012.11.001
Wick, M. (2013). Crowdfunding. An introduction. Blue Beetle Books.
Witoszek, A. (2016). Crowdfunding jako źródło finansowania przedsiębiorstw innowacyjnych w fazie początkowego rozwoju. In M. Makowiec, & M. Adamczyk (Eds.), Uniwersytet przedsiębiorczy – perspektywy i wyzwania gospodarki innowacyjnej (pp. 103–114). Kraków: Wydawnictwo Uniwersytetu Ekonomicznego w Krakowie.
Vasileiadou, E., Huijben, J. C. C. M., & Raven, R. P. J. M. (2016). Three is a crowd? Exploring the potential of crowdfunding for renewable energy in the Netherlands. Journal of Cleaner Production, 128, 142–155. https://doi.org/10.1016/j.jclepro.2015.06.028
Zabłocki, M. (2013). Determinanty wykorzystania odnawialnych źródeł energii w Polsce. Technika Poszukiwań Geologicznych. Geotermia, Zrównoważony Rozwój, 52(2), 29–44.
Zott, C., Amit, R., & Massa, L. (2011). The business model: Recent developments and future Research. Journal of Management, 37(4), 1019–1042. https://doi.org/10.1177/0149206311406265
Ziobrowska, J. M. (2016). Crowdfunding jako nowoczesna forma wsparcia przedsięwzięć społecznych, kulturowych i biznesowych. Finanse, Rynki Finansowe, Ubezpieczenia, 3(81), 285–295.
Downloads
Published
Issue
Section
License
Copyright (c) 2023 Social Entrepreneurship Review
This work is licensed under a Creative Commons Attribution 4.0 International License.
