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The purpose of this paper is to highlight the opportunity for the energy policy in Brazil to tackle the very high cost-effectiveness potencial of solar energy to the power system. Three mechanisms to achieve ambitious reductions in the greenhouse gas emissions from the power sector by 2030 and 2040 are assessed wherein treated as solar targets under ambitious reductions in the greenhouse gas emissions from the power sector. Then, three mechanisms to achieve these selected solar targets are suggested.

This paper reviews current and future incentive mechanisms to promote solar energy. An integrated energy system optimization model shows the most cost-efficient deployment level. Incentive mechanisms can promote renewable sources, aiming to tackle climate change and ensuring energy security, while taking advantage of endogenous energy resources potential. Based on a literature review, as well as on the specific characteristics of the Brazilian power system, under restrictions for the expansion of hydroelectricity and ambitious limitation in the emissions of greenhouse gases from the power sector.

The potential unexploited of solar energy is huge but it needs the appropriate incentive mechanism to be deployed. These mechanisms would be more effective if they have a specific technological and temporal focus. The solar energy deployment in large scale is important to the mitigation of climate change.

The value of the research is twofold: estimations of the cost-effective potential of solar technologies, generated from an integrated optimization energy model, fully calibrated for the Brazilian power system, while tacking the increasing electricity demand, the expected reduction of greenhouse gas emissions and the need to increase the access to clean and affordable energy, up to 2040; proposals of three mechanisms to deploy centralized PV, distributed PV and solar thermal power, taking the best experiences in several countries and the recent Brazilian cases.

This paper aims to explore Turkey’s current energy status with a on renewable energy sources (RES) cooperation mechanisms, within the framework of RES Directive 2009/28/EC. The study uses the SWOT (strengths, weaknesses, opportunities, threats) analysis for drawing results about perspectives of RES cooperation between Turkey and European Union (EU) Member States. In particular, the SWOT analysis provides a clearer view of expanding RES in Turkey, as well as the level of utilization and potential of cooperation mechanisms and renewable energy in the country.

The approach followed incorporates desktop analysis, stakeholders’ mapping and involvement, key factors’ identification and results analysis and validation. The adopted approach is based on research conducted within the context of the “Bringing Europe and Third countries closer together through renewable Energies (BETTER)” (project number: IEE/11/845/SI2.616378) project, co-financed by the Intelligent Energy Europe Programme.

Based on the SWOT analysis conducted for Turkey, there are huge opportunities for RES deployment and cooperation in the country, because of its large unexploited RES potential. Turkey is a country with strategic importance, e.g. regarding energy security. Substantial savings can occur for the EU28 Member States through this cooperation, whereas Turkey will also benefit through income and investments, as well as technology transfers and further synergies associated with the cooperation. For the above potentials to be reached, nevertheless, national policies for RES development would have to be strengthened substantially, and non-economic barriers mitigated.

The potential of Turkey to utilise cooperation mechanisms provides opportunities for RES exporting between the country and EU countries. An analysis of these opportunities for cooperation will allow drawing clearer conclusions on cooperation potentials and business cases for Turkey.

The purpose of this paper is to investigate impacts of policy instruments for market penetration of renewable technologies in South Africa. Based on the current debates about renewable energy policies and the comparative advantage of the country in terms of coal resources the author set up a framework focusing on renewable energy price subsidies, carbon tax and renewable energy portfolio standard.

Using a simulation model through a linear programming approach the paper assesses impacts of those policies on fossil fuel and renewable energy sectors via business‐as‐usual and policy option scenarios. The business‐as‐usual assumes that there are not policy instruments mobilized to promote adoption and diffusion of clean technologies instead of a policy scenario where such policies are included.

The results of the analysis show that when the coal‐based resources are integrated in the simulation process, only carbon tax and renewable energy price‐based subsidies promote a transition towards a sustainable energy production, therefore reduce the associated environmental damage.

Moreover, the paper also shows that in the case of carbon tax and renewable price subsidies, emission prices should be adequately scrutinized in order to guarantee a positive economic surplus.

The intensity of carbon emissions has led to the serious problem of global warming, and the consequences in terms of climatic disasters are gaining increasing attention worldwide. As the energy sector is responsible for most global emissions, developing clean energy is crucial to combat climate change. This study aims to examine the relationship between corporate governance and renewable energy (RE) consumption and explore the interaction between RE production and RE use.

The study adopts an econometric framework of a panel model, followed by the robustness check using alternative methods, including logit regressions. The bivariate probit model is used to analyze the interaction between the decision to use and the decision to produce RE. The analysis is based on a sample of 3,896 firms covering 45 countries worldwide.

The results reveal that appropriate governance mechanisms positively impact RE consumption. These include the existence of a sustainability committee; environmental, social and governance-based compensation policy; financial performance-based compensation; sustainability external audit; transparency; board gender diversity; and board independence. Firms with appropriate governance mechanisms are more likely to produce and use RE than others. Finally, while RE use positively impacts firm value and environmental performance, the authors find no significant effect on current profitability.

This study goes beyond previous research by exploring the impact of multiple governance mechanisms. To the best of the authors’ knowledge, this is also the first study examining the relationship between RE use and firm value. Overall, the findings suggest that RE transition requires, first of all, establishing appropriate governance mechanisms within companies.

This chapter provides an overview of the current status of renewable energy projects and identifies the key success factors of well-performing public–private partnerships (PPPs). To this end, this study analyses around 1,700 renewable projects on the World Bank’s Private Participation in Renewable Energy (PPRE) database. We then follow an inductive approach for a case review and examine a 5-MW rooftop solar PPP in Gujarat, India, that had been implemented in 2012. In spite of the rapid growth of renewable PPPs, regional disparity is distinct and most PPPs have been undertaken in Latin America and the Caribbean or a few selective countries such as China or South Africa. The case study informs that the successful PPPs may be attributed to such factors as policy coordination in multi-governance systems to attract project investments, the handling of land constraints in a project planning stage, and Green Incentive given to project participants. It offers a valuable insight into the significance of well-designed PPPs for enhanced energy access in developing countries, while accelerating the global transition to renewable-based energy supply to promote sustainable development.

This paper aims to elaborate on the crucial effects that a seemingly detrimental policy change in Spain has had on the international entrepreneurial activities of domestic renewable energy (RE) firms.

Primary data were collected from nine RE companies in Spain and then triangulated with secondary data and interviews from informants in other local institutions.

Domestic RE firms, due to an institutional scape driver action, reacted to an increasingly uncertain and generally more adverse renewable energy policy framework in this country by preferring to internationalise towards foreign markets that had lower political uncertainty than the domestic one.

This paper complements previous research primarily on firm-specific factors that enhance internationalising firms’ survival and growth through a focus on the impact of a changing institutional-political environment at the home country-level.

Practitioners in the RE sector should analyse the risk of focusing only on the home market, as it can be too dependent on uncontrolled variations in domestic energy policy.

The findings indicate that a more stable and supportive, long-term perspective in the domestic RE policy is essential for the sustained growth and development of this emerging industry.

To analyse the strategy by which a number of purposefully selected companies were able to use international expansion as a survival-seeking strategy against a drastic policy-level change in the domestic RE market.

The United Kingdom (UK) Government is required to meet various renewable energy targets set by the European Union. The UK has had renewables support schemes for many years. It has become clear that the old schemes are insufficient to lead to enough new capacity to meet the target. The government has accordingly reformed the renewables obligation (RO). The purpose of this paper is to analyse whether the reformed RO will meet the targets set for 2015 and 2020.

The paper undertakes a review of the modelling literature and performs a critical, deductive analysis of the RO to answer its research issue.

The paper finds that it is too late to make any difference to the 2010 target, but that the reforms might lead to the 2015 target being met, and finds that whilst it is clear that the reformed RO will lead to more capacity being built than otherwise would have been the case, it is difficult to establish that the 2020 target will be met.

This paper shows that there may be further reform of the already‐reformed RO, and that more time is needed to see the impacts of the recent regulatory responses to the external failures. This understanding will be useful in developing new policies to promote renewable energies in the UK.

Currently, renewable energy (RE) sources represent a crucial pillar in obtaining sustainable development, one of the global goals for all countries. However, this presents a unique challenge for emerging and developing countries. As the technical and financial issues remain a significant barrier in implementing RE projects, several mechanisms are available to aid the financial aspect of investing and implementing clean energy projects. This paper aims to discuss new and traditional trends in the financial area of renewable investment, focusing on the Dominican Republic (DR), identifying the gaps in the financial area regarding RE.

An empirical study was conducted in the DR. This country is located at the heart of the Caribbean. Given the complexity of RE and developing countries issues and the scarcity of comparable research in the area, an interpretivist research paradigm along with the qualitative methodology was adopted. Primary data was collected through semi-structured interviews. The study sample includes: directors, chief executive officers and managers responsible for the implementation of RE strategies in their respective departments/organisations. NVivo software was used for data management and the collected data was analysed using content analysis.

The research highlighted several severe financial handicaps regarding RE in the DR: The lack of RE assets recognition; lack of RE investment loans; perceived RE risk; and lack of financial guarantor. After extensive interviews with critical actors in the RE sector in the DR, the possible solutions and recommendations for avoiding locking the energy and economic sector in fossil fuel debt are: (a) diversification of RE technology assets recognition, (b) implementation of government RE fund, (c) RE education on all actors and (d) introduction and adoption of new financial trends such as green bonds, bank pooling, cooperatives and more.

This paper provides information and knowledge related to financial tools and policies that are available for the RE projects in the DR. The results have a socio-economic impact. This research provides a better understanding of the key financial tools to be explored by RE project developers in the developing countries. This study shows the gaps that exist between the knowledge that the stakeholders should possess and the actual knowledge that exists in the country regarding the financial aspect of an RE project.

Under the dual pressure of resources and environment, many countries have focused on the role of railways in promoting low-carbon development of integrated transportation and of even the whole society. This paper aims to provide a comprehensive study on methods to improve railway energy efficiency in other national railways and achievements made by China’s railways in the past practice, and then to propose ways in which in the future China’s railways could rationally select the path of improving energy efficiency regarding the needs of the nation's ever-shifting development and carry out the re-engineering for mechanism innovation in energy conservation and emission reduction process.

This paper first studies other national railways that have tried to promote the improvement of railway energy efficiency by the ways of technology, management and structural reconstruction to reduce energy consumption and carbon emissions. Among them, the effect of structural energy conservation and emission reduction has become more prominent. It has become the main energy conservation and emission reduction measure adopted by foreign railway sectors. The practice of energy conservation and emission reduction of railways in various countries has tended to shift from a technical level to a structural one.

Key aspects in improving energy efficiency include re-optimization of energy structure, re-innovation of energy-saving technologies and optimization of transportation organization. Path selection includes continuing to promote electrified railway construction, increasing the use of new and renewable energy sources, and promoting the reform of railway transportation organizations.

This paper provides further challenges and research directions in the proposed area and has referential value for the methodologies, approaches for practice in a Chinese context. To achieve the expected goals, relevant supporting policies and measures need to be formulated, including actively guiding integrated transportation toward railway-oriented development, promoting innovation in energy-saving and emission reduction mechanisms and strengthening policy incentives, focusing on improving the energy efficiency of railways through market behavior. At the same time, it is necessary to pay attention to new phenomena in the railway industry for track and analysis.

Policy or regulatory risks represent one of the major barriers for renewable energy investments, especially against the background of several retrospective reductions of support schemes in Europe. This paper aims to contribute to the literature by offering a categorization of major risk drivers and determinants of policy risk associated with renewable energy projects in developed countries.

Based on a narrative (traditional) review of the academic literature and supported by industry studies regarding cases of support scheme cuts in Europe (from the end of 2010 until the end of 2013), the paper derives determinants of policy risks of renewable energy investments.

As a main result, the paper offers a concise categorization of major risk drivers of policy and regulatory risks associated with renewable energy investments in developed countries along with potential indicators.

The derived categorization of major risk drivers and the set of indicators are of high relevance for risk management and risk assessment of renewable energy investments, where understanding the underlying risk drivers is vital. The findings can thus be applied when establishing a sound risk management for renewable energy investments.

The paper helps (potential) investors, policymakers and regulators to assess policy risks associated with renewable energy investments.