Hong Kong's “future” energy transition-digitalization-financialization triangle: Actors and impacts

Abstract

Decentralized renewable energy installations, such as home or building solar PV, can be funded through digital fintech instruments, such as via peer-to-peer trading. This is an innovation merging two different sectors: energy and finance. But who could be the actors in this new ecosystem? How is this blending of the digital or the fintech and the renewable energy sectors perceived? This talk highlights on Hong Kong, a global financial centre, as it seeks to become an international hub for green finance and expand renewable energy contributions in its energy mix. Reporting the outcome of an expert elicitation work, the talk describes a prospective actor/institution landscape of this emergent ecosystem. We found that not only energy and finance actors will most likely be engaged in this innovation, but also those in the technology and research sectors. The general public is also seen as a key actor. The talk also surfaces expert perceptions on the possible impacts of this innovation on Hong Kong. This includes new opportunities for citizen participation in energy transition as these new investment vehicles are made available. The innovation, however, is challenged by Hong Kong's distinct electricity market regime and lack of space for technology deployment.