Renewable Energy Development: Opportunities and Barriers within the Context of Global Energy Politics

• Main Author: Philip E. Agbonifo
• Format: Article
• Language: English
• Published: EconJournals 2021-02-01
• Series: International Journal of Energy Economics and Policy
• Online Access: https://econjournals.com/index.php/ijeep/article/view/10773

<p>This paper resonate current debate on renewable energy developments (RED) with emphasis on opportunities, barriers and related issues within the context of global energy<strong> </strong>politics. Energy is a strategic commodity that is required to meet basic needs of the society. A sizeable portion of primary energy demand is met through conventional fossil fuels which are a finite resource, but RED is an important step towards environmental, social and economic development. It is central to environmental protection, social security, economic prosperity, increase access to clean, efficient energy and provide a basis to address sustainable development needs. RED enables the exigencies of the present generations to be met without compromising the ability of future generations to meet their own needs. Thus, this paper lend a voice to the current debate and provide a framework to comprehend the opportunities and challenges associated with RED. It include investment in renewable energy infrastructure, institutional governance, technological innovation, legislation, country specific economic needs, subsidies, lack of coherent energy policy, poorly conceptualize climate change policy framework and increasing global population.</p><p><strong>Keywords:</strong> Renewable Energy Development; Sustainable Development; Environmental Policy; Energy Conservation; Sustainable </p><p><strong>JEL Classifications: </strong>O13<strong></strong></p><p>DOI: <a href="https://doi.org/10.32479/ijeep.10773">https://doi.org/10.32479/ijeep.10773</a></p>