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Article
Publication date: 26 June 2019

Dina Frutos-Bencze, Kujtim Avdiu and Stephan Unger

This paper aims to investigate the effect of monetary policy indicators on Latin America’s renewable energy development. The authors conduct several regressions as well as…

Abstract

Purpose

This paper aims to investigate the effect of monetary policy indicators on Latin America’s renewable energy development. The authors conduct several regressions as well as a Principal Component Analysis (PCA) to unveil relationships among possible driving factors among others the current account balance, interest rates, money flow and energy trade balance for Latin America’s energy mix.

Design/methodology/approach

The analysis was a two-part process. First, the authors used multiple regression to identify if monetary policy affects the development of renewable energy usage at all. To investigate the singular effects of each of the nine macro-economic variables and four energy indicators, collected from the World Bank (2017) database, several regressions were run where the authors regressed each economic indicator on each energy variable. Then, the authors conducted a principal component analysis with all 13 variables.

Findings

The authors found a significant relationship between the clean energy share and governmental spending boosting GDP as well as a significant relationship between governmental spending and the amount of foreign exchange reserves. Declining net energy imports indicate that countries in Latin America are getting more and more energy autonomous for the price of building up huge amounts of foreign exchange reserves.

Research limitations/implications

Renewable energy indicators are not always available for all Latin American countries. Data tend to be scattered. However, sources such as the International Renewable Energy Agency and the World Bank database can be complementary.

Practical implications

The understanding of the effects and impacts of some of the monetary policy related indicators can provide insights for improving renewable energy financing policies. In turn, such policies can have increased influence on renewable energy sustainability and potentially contribute to improving environmental policies.

Originality/value

The specific impact of the selected variables on renewable energy has not been studied. This study attempts to discern the impact of such variables to understand how they influence the renewable energy mix. The insights can in turn inform and modify existing policies and guidelines as well as advise new policy.

Details

critical perspectives on international business, vol. 16 no. 4
Type: Research Article
ISSN: 1742-2043

Keywords

Content available
Article
Publication date: 29 July 2019

Alex Rialp-Criado, Seyed Meysam Zolfaghari Ejlal Manesh and Øystein Moen

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…

Abstract

Purpose

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.

Design/methodology/approach

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

Findings

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.

Research limitations/implications

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.

Practical implications

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.

Social implications

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.

Originality/value

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.

Details

critical perspectives on international business, vol. 16 no. 4
Type: Research Article
ISSN: 1742-2043

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Article
Publication date: 10 September 2018

Ferdy Novianto, Sumartono , Irwan Noor and Lely Indah Mindarti

This paper aims to examine the effect of communication, resources, disposition and bureaucratic structure to the success of energy subsidy policy, to examine the effect of…

Abstract

Purpose

This paper aims to examine the effect of communication, resources, disposition and bureaucratic structure to the success of energy subsidy policy, to examine the effect of moderation of variable scenario of renewable energy policy on the influence of communication, resources, disposition and bureaucracy structure on the success of energy subsidy policy.

Design/methodology/approach

This study was purposively (based on specific objectives) conducted in Jakarta, which is associated with the implementation and subsidy policy scenario, the study focused on the center of government, namely, the capital city, Jakarta. Collection of data in this research survey was conducted in June-August 2017. The sampling technique was proportional stratified random sampling that took up most of the 770 members of Masyarakat Peduli Energi dan Lingkungan and Masyarakat Energi Terbarukan Indonesia using a representative sample of results that have the ability to be generalized. Based on the formula Slovin (Solimun and Fernandes, 2017), a sample of 145 respondents was obtained. The research approach used was a quantitative with the analysis tool called the generalized structure component analysis.

Findings

This paper exhibited that all relationships between variables have a p-value of 0.05 except the third moderation and fourth moderation relationship. So it can be said that all relationships between variables are significant except the relationship between the variables of moderation to the relationship between the disposition variable (X3) on the successful implementation of subsidy policy (Y) and the relationship between the moderation variable to the relationship between bureaucracy structure variable (X4) to the successful implementation of subsidy policy.

Originality/value

The originality of the research refers to the following: The Policy Theory described by Edwards III (1980), and reinforced by the findings of Ratminto and Winarsih (2005), and Bloom et al. (2009), that communication, resources, dispositions and bureaucratic structures affect the success of the energy subsidy policy. This becomes the formulation of a hypothesized research problem whether communication, resources, disposition and bureaucratic structure affect the success of the energy subsidy policy. In fact, the conditions in Indonesia are quite different from the Western world, and the system in Indonesia has embraced subsidies. Therefore, this study also examines the moderating effects of renewable energy policy scenarios in the relationship between communication, resources, dispositions and bureaucratic structures on the success of the subsidy policy energy. Given that there is no strong theory that examines the effects of moderation of these four factors on the success of the energy subsidy policy. Therefore, as the development of Edward III Theory, this study examines the proposition of whether renewable energy policy scenarios reinforce or weaken (moderation effects) on the effects of communication, resources, dispositions and bureaucratic structures on the success of energy subsidy policies.

Details

foresight, vol. 20 no. 5
Type: Research Article
ISSN: 1463-6689

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Article
Publication date: 16 November 2012

Djiby Racine Thiam

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

International Journal of Energy Sector Management, vol. 6 no. 4
Type: Research Article
ISSN: 1750-6220

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Article
Publication date: 3 April 2017

Nadine Gatzert and Thomas Kosub

Policy or regulatory risks represent one of the major barriers for renewable energy investments, especially against the background of several retrospective reductions of…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Practical implications

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.

Originality/value

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

Details

International Journal of Energy Sector Management, vol. 11 no. 1
Type: Research Article
ISSN: 1750-6220

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Article
Publication date: 1 March 2015

Luke Fowler

While many states have adopted renewable portfolio standards (RPS), they have employed agencies with very different missions to manage these programs. These organizational…

Abstract

While many states have adopted renewable portfolio standards (RPS), they have employed agencies with very different missions to manage these programs. These organizational differences are important in understanding how agencies are approaching the policy implementation. However, there is little research on the comparative effectiveness of these implementation approaches. This article begins with a background of RPS programs, and presents a typology of RPS implementation agencies. The effectiveness of RPS implementation approaches is tested with a pooled state-level dataset covering 14 years of program adoption and implementation. The results indicate implementation approach is substantively important in explaining policy outcomes and the growth of renewable energy. More specifically, the findings suggest using an economic development approach is the most effective way of producing growth in renewable energy generation.

Details

International Journal of Organization Theory & Behavior, vol. 18 no. 2
Type: Research Article
ISSN: 1093-4537

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Article
Publication date: 5 September 2016

Johan Lilliestam, Saskia Ellenbeck, Charikleia Karakosta and Natàlia Caldés

This paper aims to analyse reasons for the absence of renewable electricity (RE) imports to the European Union, for which the authors develop a multi-level heuristic.

Abstract

Purpose

This paper aims to analyse reasons for the absence of renewable electricity (RE) imports to the European Union, for which the authors develop a multi-level heuristic.

Design/methodology/approach

The heuristic covers three sequential acceptance levels: political attractiveness (macro-level), the “business case” (micro-level) and civil society perspectives (public discourse level).

Findings

Numerous factors on all three levels determine the success/demise of renewables trade. So far, trade has failed on the macro-level, because European policymakers perceive that targets can be achieved domestically with significant co-benefits and because exporter countries have rapidly increasing electricity demand, limiting the realisable exports. As policymakers deemed it unattractive, they have not implemented policy-supported business cases. Public opposition against trade has not been an issue as no concrete plans or projects have been proposed.

Research limitations/implications

The authors show that the factors determining whether a RE programme is successful are plentiful and extend far beyond potential cost savings. This suggests that future research and the energy policy debate should better account for how cost savings are weighed against other policy aims and explicitly include the perspectives of investors and the public.

Originality/value

This paper adds the first holistic analysis of success/failure factors for RE trade to Europe. The three-level, sequential framework is new to energy policy analysis.

Details

International Journal of Energy Sector Management, vol. 10 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

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Abstract

Details

Energy Security in Times of Economic Transition: Lessons from China
Type: Book
ISBN: 978-1-83982-465-4

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Article
Publication date: 21 September 2020

Innocent Okwanya, Abdulkareem Alhassan, Job Pristine Migap and Sunday Simeon Adeka

This study aims to examine the effects of policy incentives and cost on the choice and use of renewable energy in North-Central Nigeria.

Abstract

Purpose

This study aims to examine the effects of policy incentives and cost on the choice and use of renewable energy in North-Central Nigeria.

Design/methodology/approach

The data for this study are collected from a sample of 290 respondents drawn from across 6 states in North-Central Nigeria, including the Federal Capital Territory. This study uses descriptive statistics and multinomial logistic regression to analyze the data.

Findings

The findings reveal that there is a huge potential demand for renewable energy sources (particularly solar photovoltaic) in the rural communities in Nigeria. It also indicates a positive and highly significant relationship between the level of awareness, availability and income and the use (consumption) of renewable energy sources among the rural communities. Furthermore, the cost of installation and maintenance of renewable energy, its reliability and availability are significant determinants of renewable energy choices among rural inhabitants in Nigeria.

Practical implications

The authors submit that inefficient policy strategies, high cost of installation and lack of awareness remain the major hindrances to the use of more efficient renewable energy sources. From a policy point of view, a viable strategy for effective use of renewable energy sources is the involvement of government, development partners and agencies for the funding of renewable energy technology in the rural sector of the country. The usage of modern renewable energy would increase if policy incentives are aimed at covering parts of the maintenance and installation cost of renewable energy users. The authors recommend that apart from creating awareness on the benefits of renewable energy, policymakers should provide a desirable policy environment for private energy firms to supply renewable energy at an affordable cost to the rural communities in Nigeria.

Social implications

A majority of the rural households in Nigeria, as shown in this article, are poor and therefore use firewood as their main source of cooking energy because of the cost of renewable energy.

Originality/value

Despite the abundance of renewable energy sources and government effort at improving renewable energy use, more than 15 million people live without access to electricity and 54 million are without modern energy services for cooking and lightening in Nigeria. A total of 61% of these people live in rural areas. Therefore, this study is novel in providing energy policy insights for rural communities in North-Central Nigeria.

Details

International Journal of Energy Sector Management, vol. 15 no. 1
Type: Research Article
ISSN: 1750-6220

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Book part
Publication date: 6 December 2017

Younsung Kim and Kyoo-Won Oh

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…

Abstract

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.

Details

The Emerald Handbook of Public–Private Partnerships in Developing and Emerging Economies
Type: Book
ISBN: 978-1-78714-494-1

Keywords

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