Chapter 8 - World energy policies

Abstract

This chapter shed light on the current energy policy globally through its overview on renewable energy (RE) policies implementation. North America, Europe, and Asia are the regions chosen as the observational studies on its RE policies landscape. Crafting the energy policies is imperative to ensure the global energy security supply, and demand is achievable while heightening the energy efficiency, new technologies transfer, positive RE global competitiveness, and taxation framework. Government engagement and their roles are essential in flourishing the enacted energy policies. Several initiatives and subsidies have been discussed accordingly covering the feed-in tariff scheme, net energy metering, carbon taxes, and monetary incentives to the RE producers/investors. Through the literature, various policy outlines on the RE have been deployed successfully depending on their respective national policy context. The significance of policies has created many benefits to stakeholders such as RE market growth, environmental impact minimization, and fossil fuel subsidies reduction. However, some of the unanticipated impacts also been highlighted for further policy studies such as uncertain payment timeline, which affected RE investors.