An EU-wide consortium consisting of scientists and local government representatives from eight European countries is researching in the PROSEU project whether renewable energy produced and distributed by consumers themselves can ensure a more sustainable future for Europe. During the three-year project, the role of the 'prosumer' phenomenon for the European Energy Union will be analyzed in cooperation with local energy initiatives. The team of the Chair of Finance and Public Finance and the University of Leeds are working together on a sub-project that focuses on the development of business and financing models for the generation of electricity and heat close to consumption. Prosumer is an artificial word that is made up of the terms producer and consumer. This refers to energy consumers who both use and produce electricity and heat from renewable energies. This phenomenon represents a new form of citizen participation. Instead of merely criticizing or influencing politics, citizens want to take responsibility themselves - to close the gap between investors, producers and consumers and, as new market participants, to act as a counterweight to the traditional energy players. On the one hand, such local initiatives address the global environmental challenges by making a concrete contribution to the transition from a centralized fossil energy system to decentralized renewable energies. On the other hand, they develop new business models based on co-production and cooperative ownership. In doing so, they contribute to democratization and transparency in the economy. The project consortium will identify existing renewable energy initiatives in Europe, analyze their regulatory and legal frameworks, and identify innovative financing models. In addition, "Living Labs" will bring together different interest groups and offer them the opportunity to exchange experiences. The researchers want to involve partners from politics, business and civil society and achieve the creation of a prosumer community of interests.