Making green finance work for the sustainable energy transition in emerging economies

Barua, Suborna; Aziz, Shakila

doi:10.1016/b978-0-12-824440-1.00014-x

Cited by 17 publications

(8 citation statements)

References 42 publications

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“…Programs such as the Investment Tax Credit (ITC) and Production Tax Credit (PTC) provide financial incentives for renewable energy projects, making them more attractive to developers and investors (Bolinger, 2014). The ITC, for example, offers a tax credit of up to 30% for eligible renewable energy projects, while the PTC provides a per-kilowatthour credit for electricity generated from qualified renewable sources like wind, biomass, and geothermal ( (Barua and Aziz, 2022). By sharing risks and resources between the public and private sectors, these partnerships help address financing gaps and accelerate the transition to a clean energy economy.…”

Section: Lessons From the United Statesmentioning

confidence: 99%

Exploring financing models for clean energy adoption: Lessons from the United States and Nigeria

Portia Oduro,

Peter Simpa,

Darlington Eze Ekechukwu

2024

Global J. Eng. Technol. Adv.

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This paper examines financing models for clean energy adoption, drawing insights from experiences in the United States and Nigeria. It underscores the significance of clean energy and the need to explore effective financing mechanisms to facilitate its widespread adoption. Through an analysis of the current state of clean energy adoption in both countries, existing initiatives and challenges are outlined. Lessons gleaned from successful financing models in the United States, including government incentives, public-private partnerships, and renewable energy credits, are then explored. These lessons serve as a foundation for assessing how similar approaches can be adapted to the Nigerian context. Specific attention is given to the unique challenges facing Nigeria, such as infrastructure limitations and socioeconomic disparities, and how financing models can be tailored to address these obstacles. A comparative analysis between the two countries identifies similarities, differences, and the potential transferability of financing models. Based on these insights, recommendations are proposed for Nigeria, emphasizing the importance of context-specific approaches to accelerate clean energy adoption. Overall, this paper provides a comprehensive exploration of financing models for clean energy adoption, offering valuable insights for policymakers, stakeholders, and practitioners in both the United States and Nigeria.

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Section: Lessons From the United Statesmentioning

confidence: 99%

Exploring financing models for clean energy adoption: Lessons from the United States and Nigeria

Portia Oduro,

Peter Simpa,

Darlington Eze Ekechukwu

2024

Global J. Eng. Technol. Adv.

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“…These studies have focused on EU [21,30], OECD [31], Baltic [32], and Central and Eastern European member countries [33], as well as countries belonging to the Visegrad Group [34][35][36], those forming the Trilateral Initiative [3], African [37] and Asian countries [38], and those located on different continents [39,40]. These studies included economically developed countries [41], as well as emerging and developing economies [42]. The studies focused on various aspects of energy transition, including the development of renewable energy sources [30], sustainable energy development [33,37], and energy security in the context of climate policy [34][35][36] and energy transition readiness [40].…”

Section: Evaluation Of the Energy Transition Processmentioning

confidence: 99%

Empirical Assessment of the Efficiency of Poland’s Energy Transition Process in the Context of Implementing the European Union’s Energy Policy

Brodny,

Tutak,

Grebski

2024

Energies

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This article addresses one of the contemporary economy’s most challenging endeavors: the energy transition. Specifically, the aim of the study was to assess the effectiveness of Poland’s energy transition process between 2004 and 2021. A comprehensive approach is employed to analyze Poland’s energy transition process, focusing on the effectiveness of implementation through the Energy Transition Effectiveness Index. This methodology incorporates four dimensions, namely energy security, economic considerations, climate impact, and social aspects, each characterized by 22 sub-indices. The research methodology employs a two-tiered approach based on the multi-criteria decision making methodology. The EDAS method is utilized to determine the indices’ values, while the CRITIC, equal weights, and statistical variance methods and Laplace’s criterion are employed to ascertain sub-indices values and dimension weights, particularly useful for decision making under uncertainty. Moreover, the relationship between these indices, the Energy Transition Effectiveness Index, and Poland’s Gross Domestic Product is explored. By evaluating Poland’s energy transition effectiveness from 2004 to 2021 and comparing the results with other European Union countries, it becomes evident that the effectiveness varies over time. Despite encountering economic and social challenges during the energy sector’s transformation, Poland exhibits positive progress in its energy transition efforts, outperforming certain European Union counterparts. However, there is a pressing need to intensify efforts to curtail emissions and enhance renewable energy utilization. The European Union’s support and coordination are deemed crucial in facilitating these endeavors, alongside fostering the wider adoption of best practices among member states. The developed methodology stands as a valuable tool for ongoing evaluation of transformation processes across European Union nations.

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“…Jewell and Cherp (2019) indicate that the costs of required climate actions are too high in relation to capacities to bear these costs in relevant contexts. That is why most emerging economies prioritise growth over environmental quality, making them significant demanders and consumers of fossil fuels (Barua and Aziz 2022). The assessment shows that economic growth decouples with renewable energy consumption over time in the economies, reflecting the countries' lower prioritisation of the sustainable energy transition.…”

Section: Literature Reviewmentioning

confidence: 99%

Problems and Perspectives of the European Green Deal with the Focus on the SEE Countries and Serbia

Zvezdanović Lobanova,

Lobanov

2023

The Review of International Affairs

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Global climate challenges increasingly determine the prospects for world economic development, which entails an increase in the importance of the green transition agenda in the activities of international organisations and national governments. An example of a developed and consistent action programme at the national and supranational levels is the European Green Deal (EGD). The EU member states adhere to an ambitious strategy to reduce greenhouse gas emissions and achieve climate neutrality, solving the problems of introducing eco-friendly technologies (including alternative energy), energy efficiency, the formation of a sustainable industry, and the transition to a circular economy. The EU member states and candidate countries from Southeastern Europe (SЕЕ) have to follow in the footsteps of the European climate policy and implement the developed plans to reduce the anthropogenic pressure on the environment. The key hypothesis of this study is that the states of the region, with rare exceptions, lag behind the average level of the EU in terms of the energy efficiency of their economies, the prevalence of energy-saving technologies, and the usage of renewables. Despite the developed institutional framework, the progress of the green transition in Serbia is very limited: the dynamics of reducing greenhouse gas emissions (including per GDP) is unsatisfactory, and the emissions intensity and energy intensity levels remain among the highest in the region. Using a comparative analysis method, we examined the structure of electricity generation and the place renewable sources take in this structure. We also analysed in detail the differences between the countries of the region in a number of indicators: energy intensity level of primary energy, greenhouse gas emissions (including per GDP), and the volume of carbon dioxide emissions in relation to the unit of electricity generated (emissions intensity). We conclude that institutional maturity, the sufficiency of financial support for the projects, and the availability of economic incentives for green transition are the determining factors for achieving the goals of the EGD in SEE.

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Making green finance work for the sustainable energy transition in emerging economies

Cited by 17 publications

References 42 publications

Exploring financing models for clean energy adoption: Lessons from the United States and Nigeria

Exploring financing models for clean energy adoption: Lessons from the United States and Nigeria

Empirical Assessment of the Efficiency of Poland’s Energy Transition Process in the Context of Implementing the European Union’s Energy Policy

Problems and Perspectives of the European Green Deal with the Focus on the SEE Countries and Serbia

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