59-05-032 Proceeding

37 Proceedings of the Princess Maha Chakri Sirindhorn Congress term, ROIs than infrastructural developments, as in energy. Energy policy, thus, plays an important role in reducing the risk (e.g. through loan guarantees) and increasing the return (e.g. through feed-in tariffs or carbon tax). Currently, private investments constitute the majority of large-scale renewable energy, and small-scale solar PVs, and project developers, which are established national or regional utilities, independent power producers and other project developers specialising in renewable energy, including state owned enterprises, represent the most important investor class (CPI, 2014). In the future, there will be increasing involvement of institutional investors, such as pension funds, insurance companies, and other long-term investors in the equity and debt of renewable projects (Bloomberg, 2014), because their distinctive risk/return requirements and longer-term objectives enable investments in renewable energy at a lower return. Energy Policy Landscape Case Studies Energy policies should be formulated to address energy security, energy equity and environmental sustainability simultaneously. Supply and demand sides should be managed concurrently to achieve a balance that reduces overall carbon emissionwhilemaintaining a reliable grid. Countries should also design carbon reduction pathways suitable for their geography, terrain and their natural resource portfolio at their level of economic and technological development. EE measures for demand side management should start with energy use data collection, identify sectors with high saving potential, e.g. transport, buildings, industry, energy utilities, etc., then define efficiency standards based on a prioritization of which sector improvements would confer the most benefits. Renewable energy on the other hand, should start with technological and economic feasibility assessments of renewable technologies based on available national resources, for example: Figure 6 Energy Intensity of Selected Countries (Sources: IEA)