Search results

1 – 10 of 393
Article
Publication date: 13 June 2023

Umme Humayara Manni and Datuk. Dr. Kasim Hj. Md. Mansur

Energy security has been talked about by governments and policymakers because the global energy market is unstable and greenhouse gas emissions threaten the long-term health of…

Abstract

Purpose

Energy security has been talked about by governments and policymakers because the global energy market is unstable and greenhouse gas emissions threaten the long-term health of the global environment. One of the most potent ways to cut CO2 emissions is through the production and consumption of renewable energy. Thus, the purpose of this paper is to highlight the drivers that, if ambitious environmental policies are implemented, might improve energy security or prevent its deterioration.

Design/methodology/approach

The study uses a balanced panel data set for Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam that covers a period of 30 years (1990–2020). The pooled panel dynamic least squares is used in this study.

Findings

The findings show that renewable energy consumption is positively related to gross domestic product per capita, energy intensity per capita and renewable energy installed capacity. Wherein renewable energy use is inversely related to per capita electricity consumption, CO2 emissions and the use of fossil fuel electricity.

Originality/value

There is a lack of research identifying the factors influencing energy security in the ASEAN region. Therefore, this study focuses on the drivers that influence energy security, which are explained by the proportion of renewable energy in final energy consumption. Without identifying the demand and supply sources of energy, especially electricity production based on renewable energy techniques, it is hard for policymakers to achieve the desired renewable energy-based outcome.

Details

International Journal of Energy Sector Management, vol. 18 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 7 April 2023

Pedro Bento, Sílvio Mariano, Pedro Carvalho, Maria do Rosário Calado and José Pombo

This study is a targeted review of some of the major changes in European regulation that guided energy policy decisions in the Iberian Peninsula and how they may have aggravated…

Abstract

Purpose

This study is a targeted review of some of the major changes in European regulation that guided energy policy decisions in the Iberian Peninsula and how they may have aggravated the problem of lack of flexibility. This study aims to assess some of the proposed short-term solutions to address this issue considering the underlying root causes and suggests a different course of action, that in turn, could help alleviate future market strains.

Design/methodology/approach

The evolution of the most important (macro) energy and price-related variables in both Portugal and Spain is assessed using market and grid operator data. In addition, the authors present critical viewpoints on some of the most recent EU and national regulation changes (official document analysis).

Findings

The Iberian energy policy and regulatory agenda has successfully promoted a rapid adoption of renewables (main goal), although with insufficient diversification of generation technologies. The compulsory closings of thermal plants and an increased tax (mainly carbon) added pressure toward more environmentally friendly thermal power plants. However, inevitably, this curbed the bidding price competitiveness of these producers in an already challenging market framework. Moving forward, decisions must be based on “a bigger picture” that does not neglect system flexibility and security of supply and understands the specificities of the Iberian market and its generation portfolio.

Originality/value

This work provides an original account of unprecedented spikes in energy prices in 2021, specifically in the Iberian electricity market. This acute situation worries consumers, industry and governments. Underlining the instability of the market prices, for the first time, this study discusses how some of the most important regulatory changes, and their perception and absorption by involved parties, contributed to the current environment. In addition, this study stresses that if flexibility is overlooked, the overall purpose of having an affordable and reliable system is at risk.

Details

International Journal of Energy Sector Management, vol. 18 no. 2
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 11 March 2024

Mayuri Gogoi and Farah Hussain

This study aims to identify the various economic and non-economic determinants of renewable energy consumption (REC) in Brazil, Russia, India, China and South Africa (BRICS). Due…

Abstract

Purpose

This study aims to identify the various economic and non-economic determinants of renewable energy consumption (REC) in Brazil, Russia, India, China and South Africa (BRICS). Due to the adverse effect of carbon emission on the environment, every country is trying for a transition from fossil fuel towards renewable energy. Renewable energy plays a crucial role in reducing carbon emission and combating climate change. Understanding the determinants that influence REC helps to promote this transition.

Design/methodology/approach

The study is based on an unbalanced panel data over the period 2002–2019 for all five BRICS nations. The panel corrected standard error (PCSE) method has been adopted to examine the determinants of REC.

Findings

Industrialization, population growth and foreign direct investment (FDI) are found to be significant economic determinants of REC while patent on environmental technologies, political instability and industrial design are significant non-economic determinants of REC in the BRICS nations.

Research limitations/implications

The findings imply that to increase REC in BRICS nations, policymakers should incentivize industries for investments in renewable energy, attract FDI aligned with environmental regulations, raise population awareness through training, enforce industrial design standards, establish fair technology transfer frameworks to overcome patent barriers and create stable, long-term renewable energy policies with risk mitigation instruments to address political instability.

Originality/value

The study captures the effect of patents on environmental technologies and industrial design on the consumption of renewable energy. Thus, the novelty lies in investigating unexplored variables in the previous literature likely to affect REC.

Details

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

Keywords

Article
Publication date: 17 May 2023

Imran Khan and Darshita Fulara Gunwant

South Asia is one of the fastest-growing regions in the world. With its fast economic development, the energy requirement for the region has rapidly grown. As the region relies…

Abstract

Purpose

South Asia is one of the fastest-growing regions in the world. With its fast economic development, the energy requirement for the region has rapidly grown. As the region relies mainly on nonrenewable energy sources and is suffering from issues like pollution, the high cost of energy imports, depleting foreign reserves, etc. it is searching for those factors that can help enhance the renewable energy generation for the region. Thus, taking these issues into consideration, this paper aims to investigate the impact of macroeconomic factors that can contribute to the enhancement of renewable energy output in South Asia.

Design/methodology/approach

An autoregressive distributed lag methodology has been applied to examine the long-term effects of remittance inflows, literacy rate, energy imports, government expenditures and urban population growth on the renewable energy output of South Asia by using time series data from 1990 to 2021.

Findings

The findings indicated that remittance inflows have a negative and insignificant long-term effect on renewable electricity output. While it was discovered that energy imports, government spending and urban population growth have negative but significant effects on renewable electricity output, literacy rates have positive and significant effects.

Originality/value

Considering the importance of renewable energy, this is one of the few studies that has included critical macroeconomic variables that can affect renewable energy output for the region. The findings contribute to the body of knowledge that a high literacy level is crucial for promoting renewable energy output, while governments and policymakers should prioritize reducing energy imports and ensuring that government expenditures on renewable energy output are properly used. SAARC, the governing body of the region, also benefits from this study while devising the renewable energy output policies for the region.

Details

International Journal of Energy Sector Management, vol. 18 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

Open Access
Article
Publication date: 5 March 2024

Yogeeswari Subramaniam and Nanthakumar Loganathan

Given the importance of green finance in a discussion of energy efficiency and clean energy, it is critical to evaluate its implications for the growth of renewable energy. This…

Abstract

Purpose

Given the importance of green finance in a discussion of energy efficiency and clean energy, it is critical to evaluate its implications for the growth of renewable energy. This study examines the impact of green finance on renewable energy development in Singapore.

Design/methodology/approach

The dynamic ordinary least squares (DOLS) regression was used in this work to test such a connection.

Findings

Using the DOLS for the period 2000–2020, it was discovered that green finance aids renewable energy development in Singapore. Additionally, the findings revealed that economic growth, oil prices, energy consumption, carbon dioxide emissions and institutional factors are all positively associated with renewable energy growth, resulting in a boost in renewable energy development.

Research limitations/implications

Hence, as a result, the monetary authorities of Singapore, such as financial institutions, non-governmental organisations and corporations, should prioritise renewable energy projects under green finance initiatives to boost renewable energy growth. This may assist in raising investment flows to green projects; hence, accelerating the adoption of renewable energy.

Originality/value

Increased Singapore's initiatives to accelerate green finance have prompted this study to examine the research question of whether green finance has a significant impact on renewable energy growth. Thus, to the best of the authors’ knowledge, this will be the first empirical study to explore the impact of green finance on renewable energy growth in the case of Singapore.

Details

Journal of Asian Business and Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2515-964X

Keywords

Article
Publication date: 15 March 2023

Olaniyi Evans

This study aims to investigate the effect of oil prices, economic growth and information communication technology (ICT) on investment into renewable energy transition (RET).

Abstract

Purpose

This study aims to investigate the effect of oil prices, economic growth and information communication technology (ICT) on investment into renewable energy transition (RET).

Design/methodology/approach

Based on six selected African countries (i.e. Algeria, Egypt, Angola, Ethiopia, South Africa and Nigeria), the study uses a nonlinear autoregressive distributed lag model over the period from 1995 to 2020.

Findings

The results show that increasing oil prices, by substitution effect, leads to increasing RET investment, while declining oil prices lead to decreasing RET investment in the short and long run. Furthermore, the results reveal that increasing real gross domestic product leads to increased RET investment, while declining real gross domestic product (GDP) leads to decreasing RET investment both in the short and long run. Simultaneously, the study shows that increasing ICT has a significant and positive impact on RET investment, while declining ICT has a significant negative impact on RET investment in the short and long run.

Originality/value

The findings of this study have advanced the understanding of which factors significantly influence RET investment and the need to concentrate efforts on strategically addressing those factors. The findings indicate that these countries are at the progressive stage in terms of renewable energy; though increasing oil prices contribute to rising RET investment, the countries can be more proactive by improving the full potential of ICT as well as facilitating the growth of their economies.

Details

International Journal of Energy Sector Management, vol. 18 no. 2
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 3 April 2023

Huthaifa Alqaralleh and Abdulnasser Hatemi-J.

This study aims to investigate the dynamic relationship between renewable and non-renewable energy sources on the economic growth of eight countries, the capital stock and labour…

Abstract

Purpose

This study aims to investigate the dynamic relationship between renewable and non-renewable energy sources on the economic growth of eight countries, the capital stock and labour force being used as control variables in each case. Questions that need to be asked include the following: Is there is an asymmetric and, hence, a non-linear relationship between variables? If yes, how does economic growth interact with both renewable and non-renewable energy consumption (EC)? How different are these relationships in the countries highly rated in the performance of renewable EC compared to those lowly rated?

Design/methodology/approach

This paper uses asymmetric quantile-based methods to extract possible asymmetric and, hence, non-linear relationships between the underlying variables.

Findings

A newly developed asymmetric panel quantile approach suggests that EC has a significant effect on economic growth in both directions of shocks as well as for the considered sample. The results further support the findings in recent literature on renewable energy deployment, given the importance of renewable EC for economic growth with the increased levels of renewable EC, although the initial investments may have a negative effect on economic growth for some countries.

Originality/value

This study contributes to the literature in twofold. Firstly, it aims to contribute to the ongoing debate in literature by incorporating both renewable and non-renewable energy resources in the production function with labour and capital to test their asymmetric impact on economic growth. Secondly, this paper uses asymmetric quantile-based methods to extract possible asymmetric and, hence, non-linear relationships between the underlying variables. Another point that should be emphasised in this study is the need for studies analysing economic growth and EC for a sample of G20 countries based on a comparative view for the renewable and non-renewable EC in literature.

Details

International Journal of Energy Sector Management, vol. 18 no. 2
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 21 March 2024

Graeme Newell and Muhammad Jufri Marzuki

Renewable energy infrastructure is an important asset class in the context of reducing global carbon emissions going forward. This includes solar power, wind farms, hydro, battery…

Abstract

Purpose

Renewable energy infrastructure is an important asset class in the context of reducing global carbon emissions going forward. This includes solar power, wind farms, hydro, battery storage and hydrogen. This paper examines the risk-adjusted performance and diversification benefits of listed renewable energy infrastructure globally over Q1:2009–Q4:2022 to examine the role of renewable energy infrastructure in a global infrastructure portfolio and in a global mixed-asset portfolio. The performance of renewable energy infrastructure is compared with the other major infrastructure sectors and other major asset classes. The strategic investment implications for institutional investors and renewable energy infrastructure in their portfolios going forward are also highlighted. This includes identifying effective pathways for renewable energy infrastructure exposure by institutional investors.

Design/methodology/approach

Using quarterly total returns, the risk-adjusted performance and portfolio diversification benefits of global listed renewable energy infrastructure over Q1:2009–Q4:2022 is assessed. Asset allocation diagrams are used to assess the role of renewable energy infrastructure in a global infrastructure portfolio and in a global mixed-asset portfolio.

Findings

Listed renewable energy infrastructure was seen to underperform the other infrastructure sectors and other major asset classes over 2009–2022. While delivering portfolio diversification benefits, no renewable energy infrastructure was seen in the optimal infrastructure portfolio or mixed-asset portfolio. More impressive performance characteristics were seen by nonlisted infrastructure funds over this period. Practical reasons for these results are provided as well as effective pathways going forward are identified for the fuller inclusion of renewable energy infrastructure in institutional investor portfolios.

Practical implications

Institutional investors have an important role in supporting reduced global carbon emissions via their investment mandates and asset allocations. Renewable energy infrastructure will be a key asset to assist in the delivery of this important agenda for a greener economy and addressing global warming. Based on this performance analysis, effective pathways are identified for institutional investors of different size assets under management (AUM) to access renewable energy infrastructure. This will see institutional investors embracing critical investment issues as well as environmental and social issues in their investment strategies going forward.

Originality/value

This paper is the first published empirical research analysis on the performance of renewable energy infrastructure at a global level. This research enables empirically validated, more informed and practical decision-making by institutional investors in the renewable energy infrastructure space. The ultimate aim of this paper is to articulate the potential strategic role of renewable energy infrastructure as an important infrastructure sector in the institutional real asset investment space and to identify effective pathways to achieve this renewable energy infrastructure exposure, as institutional investors focus on the strategic issues in reducing global carbon emissions in the context of increased global warming.

Details

Journal of Property Investment & Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 1 April 2024

Richard Nkhoma, Vincent Dodoma Mwale and Tiyamike Ngonda

This study aims to examine the impact of socioeconomic factors on electricity usage and assess the feasibility of implementing a mini-grid system in Kasangazi, Malawi. The primary…

Abstract

Purpose

This study aims to examine the impact of socioeconomic factors on electricity usage and assess the feasibility of implementing a mini-grid system in Kasangazi, Malawi. The primary aim is to understand the community’s current and potential utilisation of electrical equipment.

Design/methodology/approach

A mixed-methods approach was used to collect quantitative and qualitative data. Information was gathered through structured questionnaires, and energy audits were conducted among 87 randomly selected households from 28 Kasangazi communities. Data analysis relied on descriptive statistics using IBM SPSS version 28.

Findings

The study indicates that every household in Kasangazi uses non-renewable energy sources: 60 households use disposable batteries for lighting, 20 for radios and all use firewood, freely sourced from local forests, for cooking and heating water. The study shows that firewood is the community’s preferred energy source, illustrating the challenges faced in the fight against deforestation. Most household income comes from farming, with smaller contributions from businesses, employment and family remittances. Access to higher education is scarce, with only one out of 349 family members receiving tertiary education. Despite the constraints of low education levels and income, there is a demand for larger electrical appliances such as stoves and refrigerators. This underscores the need for mini-grid solutions, even in less technologically advanced, agriculture-dependent communities.

Originality/value

This study underscores that in Sub-Saharan Africa, factors like household size, income and education levels do not significantly influence the electricity demand but should be taken as part of the fundamental human rights. Rural populations express a desire for electricity due to the convenience it offers, particularly for appliances like refrigerators and stoves. Mini-grids emerge as a viable alternative in regions where grid electricity provision is challenging. It is concluded from this paper that the issue of using renewable energy should not only be taken for environmental preservation but also to promote energy access, augmenting efforts in supplying electricity to the remotest parts of the country.

Details

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

Keywords

Article
Publication date: 4 March 2024

Shnehal Soni and Manogna RL

This study aims to examine the impact of renewable energy consumption on agricultural productivity while accounting for the effect of financial inclusion and foreign direct…

Abstract

Purpose

This study aims to examine the impact of renewable energy consumption on agricultural productivity while accounting for the effect of financial inclusion and foreign direct investment in Brazil, Russia, India, China and South Africa (BRICS) countries during 2000–2020.

Design/methodology/approach

The study has used the latest data from World Bank and International Monetary Fund databases. The dependent variable in the study is agricultural productivity. Renewable energy consumption, carbon emissions, financial inclusion and foreign direct investment are independent variables. Autoregressive distributed lag (ARDL) approach was used to examine the short-run and long-run impact of renewable energy consumption, carbon emissions, foreign direct investment and financial inclusion on agricultural productivity.

Findings

The findings imply that consumption of renewable energy, carbon emissions and foreign direct investment have a positive impact on agricultural productivity while financial inclusion in terms of access does not seem to have any significant impact on agricultural productivity. Providing farmers, access to financial services can be beneficial, but its usage holds more importance in impacting rural outcomes. The problem lies in the fact that there is still a gap between access and usage of financial services.

Research limitations/implications

Policymakers should encourage the increase in the usage of renewable energy and become less reliant on non-renewable energy sources which will eventually help in tackling the problems associated with climate change as well as enhance agricultural productivity.

Originality/value

Most of the earlier studies were based on tabular analysis without any empirical base to establish the causal relationship between determinants of agricultural productivity and renewable energy consumption. These studies were also limited to a few regions. The study is one of its kind in exploring the severity of various factors that determine agricultural productivity in the context of emerging economies like BRICS while accounting for the effect of financial inclusion and foreign direct investment.

Details

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

Keywords

1 – 10 of 393