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EU Financial Instruments in Practice: SMEs’ investments in energy efficiency and renewable energy in Croatia
[journal article]
Abstract
In the context of the EU development strategy based on a climate neutral economy by 2050, an important dilemma for policy makers is how to provide an incentive for companies, especially small and medium-sized enterprises (SMEs), to make energy efficiency and renewable energy projects their high prio... view more
In the context of the EU development strategy based on a climate neutral economy by 2050, an important dilemma for policy makers is how to provide an incentive for companies, especially small and medium-sized enterprises (SMEs), to make energy efficiency and renewable energy projects their high priority. The aim of this paper is to provide an independent empirical assessment of EU financial instruments and its barriers, used by SMEs targeting energy efficiency and renewable energy. Ex-Ante evaluation was carried out on a sample of 320 SMEs in Istria County, Croatia. The results of the empirical research suggest that despite of a low interest of investors in green projects, the use of the innovative financial instrument would significantly contribute to an increase in the number and value of investments in energy efficiency and renewables. Similar to most of other studies, our results also confirmed that administrative and bureaucratic barriers are perceived as the biggest obstacle for SMEs. It is therefore necessary to reduce the number of bodies involved, improve the quality of information dissemination and simplify procedures.... view less
Keywords
EVS; Croatia; EU; small business; medium-sized firm; energy saving; renewable energy; energy; efficiency; funding; energy policy
Classification
Special areas of Departmental Policy
European Politics
Free Keywords
energy efficiency; EU financial instruments
Document language
English
Publication Year
2022
Page/Pages
p. 173-185
Journal
International Journal of Energy Economics and Policy, 12 (2022) 4
DOI
https://doi.org/10.32479/ijeep.13216
ISSN
2146-4553
Status
Published Version; peer reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0