This report provides an analysis of (1) policy and financial de-risking instruments and (2) how they best fit into a developing economy to create feasible renewable energy projects. South Africa, Mongolia, Panama and Kenya are used as case studies to illustrate how instruments are being used in different situations. Implications of de-risking instruments are discussed in-depth to close out the analysis. Accompanying the report is a financial tool designed to help policymakers make more informed decisions about the most cost-effective courses of action.