Abstract: . . .  schedule that took into account seasonal variations in consumers’ incomes. In this way, more than 510 PV systems were installed in six locales in one and a half years; during the same period, the costs of the systems were reduced by 15 percent. Default rates on the loans at five of the six banks were under 5 percent. LESSONS LEARNED ■ There is a tremendous need for financing to create renewable energy projects. ■ The policy environment is a crucial factor in the decisions of investors to make financial commitments to renewable energy projects. ■ Support of private investment, together with backing from credit guarantee facilities and favorable market conditions, is key to sustainable market build-up. ■ Financial intermediaries . . .
. . .  guarantee facilities and favorable market conditions, is key to sustainable market build-up. ■ Financial intermediaries need help in understanding the ramifications of lending for new technologies and applications. ■ Numerous options for technological and financial risk mitigation are already available, but more options need to be developed in the future. FOR MORE INFORMATION Clare Fleming Global Environment Facility 1818 H Street NW Washington DC 20433 USA Tel: 202-473-0508 Fax: 202-522-3240 www.theGEF.org November 2005  . . .
. . .  half years; during the same period, the costs of the systems were reduced by 15 percent. Default rates on the loans at five of the six banks were under 5 percent. LESSONS LEARNED ■ There is a tremendous need for financing to create renewable energy projects. ■ The policy environment is a crucial factor in the decisions of investors to make financial commitments to renewable energy projects. ■ Support of private investment, together with backing from credit guarantee facilities and favorable market conditions, is key to sustainable market build-up. ■ Financial intermediaries need help in understanding the ramifications of lending for new technologies and applications. ■ Numerous options for technological and financial risk mitigation . . .
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