The PV industry is well-advised to apply such concepts to the crucial issue of achieving bankability for projects. All in all, managing bankability is closely related to the concept of managing quality – and today quality is managed actively with high attention given by companies’ top management, as it serves as a key differentiation factor in global competition across many industries. Banks began to “cherry-pick” projects of outstanding quality and as a result the bankability of projects, project components and stakeholders received increasing attention. As a consequence of the credit crunch, banks needed to recondition their lending criteria and the assessment process for project finance became stricter. Liquidity in the financial markets, at that time, had become a major issue for large-scale PV projects. In 20 credit markets were mainly dried up, due to the collapse of some major financial institutions. Nonetheless, the financial crisis has also left its mark. Although being a rooftop market mainly, Germany also accounts for the most ground-mounted megawatt installations globally with 1.4 GW of newly installed capacity in 2010. Monitoring the new capacity installations in Germany reveals a high confidence level of investors and financial institutions in the industry’s financial opportunities, as the financial crisis and the following economic downturn did not lead to a significant slowdown in total PV installations. Though, an increasing inflow of capital was another necessary factor for this development.
WESTERN UNION ROMANIA PROGRAM SAMBATA DRIVERS
Favorable regulatory frameworks as well as a maturing global PV industry, offering continuously lower prices, were just two of the main drivers leading to the industry’s expansion. Both circumstances make the Commission politically vulnerable to what happens to EU programmes at the implementation stage and will thus induce the Commission to expand its steering or management capacities to policy execution in order to reduce the threat of interdependence.ĭuring the past years, Germany witnessed a remarkable boom in solar photovoltaic (PV) installations. Second, and more importantly, the longer a common policy runs the more the Commission will need detailed socio-economic and technical information about the situation on the ground in order to optimise and re-adjust its policy proposals-the production of which is the Commission’s principal task. First, the Commission is accountable before the Council and other European peers for the quality of EU interventions and has to verify and communicate the efficiency and effectiveness of joint programmes. However, the longer a common policy is conducted, the greater the Commission’s need to link-up with the implementation stage. In theoretical terms, the Commission is pulled into policy implementation because the particular conditions of the emerging multi-level policy-making style impede a clear-cut separation of tasks and responsibilities between the actors involved. In this volume the role of the European Commission in the domestic implementation of EU programmes was conceptualised theoretically and traced empirically.
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