Clean Energy Projects Research Articles

Clean energy challenges and innovation opportunities in Kazakhstan

Abstract Kazakhstan has pledged to transition to a low-carbon economy by implementing national policies and strategies that promote clean energy innovation. However, Kazakhstan is still falling short of its expected targets for energy transition, and there is a lack of knowledge regarding the country’s challenges and opportunities for clean energy development. Towards this end, the current study identifies and assesses the enablers and barriers related to clean energy innovation in Kazakhstan. Using the combination of SWOT analysis, survey data from 41 experts and the DEMATEL decision support tool, we evaluated the key factors affecting Kazakhstan’s clean energy innovation and their implications for energy transition. Assessment results show that the immature business environment, underpinned by technological, institutional, and socioeconomic factors, is perceived as a high-impact constraint for clean energy innovation and green finance deployment in Kazakhstan. Skilled labour shortages, high reliance on hydrocarbons and low retail energy prices are significant challenges to Kazakhstan’s clean energy innovation. The low-profit margin and high investment risk in clean energy projects are identified as transition barriers in the power and energy-intensive industries. In contrast, Kazakhstan’s endowments of resources critical for developing clean energy technologies (rare earth metals, uranium, gas) and the potential of low-carbon investments (e.g. carbon storage) are perceived as prominent enablers of clean energy innovation. Results are consistent across expert subgroups (academia, industry, NGOs, etc). Findings call for policy support to modern and attractive business environments, capacity, and human capital development. The findings can provide helpful insights for countries in Central Asia and beyond with similar socioeconomic structures that aim for a timely energy transition.

Public Energy R&D Spending and Green Energy for Sustainable Development: COP28 Perspective of G7 Economies

Achieving sustainable development goals (SDGs) is one of the top priorities for countries worldwide, and the recent COP28 has focused mainly on achieving sustainable development via clean energy investment financing. However, countries and regions still struggle to find various policy-level indicators to achieve sustainability engagement. In this context, finding the right combination of policy indicators becomes crucial. Therefore, the current study seeks to identify the key drivers of sustainability for the G7 economies by utilizing data from 1990–2019. This study employed the cross-sectional autoregressive distributed lag (CS-ARDL) panel time series method of estimating primary results and a novel sustainable development index as the dependent variable. The study revealed that public energy R&D budgets, increasing income levels, improving the political risk index, and promoting clean energy are important for achieving sustainable development in the G7 countries and that the depletion of natural resources has an adverse influence on sustainability. These empirical results are supported by various economic and environmental theories, i.e., the environmental Kuznets curve, the innovation theory of sustainability, the Dutch disease hypothesis, and the political economy of development and energy transition theory. Based on these findings, energy investment is recommended, especially for clean energy projects, and increasing income levels via sustainable economic activities to achieve sustainability in the G7 economies.

Renewables in the Energy Mix of Algeria, a pledge for food security

This paper examines the renewables potential in the energy mix of Algeria with a special insight to bioenergy and food security. In recent years, and at global scale, bioenergy was seen as the leading renewable energy source. That contribution was particularly consistent with long term climate targets. The 2015 updated version of the Algeria Renewable Energy Development Program foresees the introduction of biomass sector with a contribution of 1000 MW by 2030. This represents barely 5% of the country’s renewable energy targets which amount to 22 000 MW, 93.5% of which are planned for solar and wind. In 2020, this objective has been reduced to 15,000 MW and the deadline extended to 2035. To date, despite the growing perception of a real desire to encourage clean energy projects, the renewable energy installed capacity is less than 500 MW without any contribution from the biomass sector. However, whatever the goals or the achievements, the need for renewable deployment is crucial for strategic purposes such as energy, water desalination and food security. The relationship between food security, sustainable development, and renewable energy is well demonstrated. Ensuring food security is closely linked with energy, hence with renewable energy sources in the middle and long term, including biomass valorization. This paper presents a comprehensive outlook of the bioenergy sector, highlighting the barriers which stand in the path of biomass recovery and use. Today, it appears clearly that a significant increase in renewable energy can only be achieved by higher solar power production.

Assessing the environmental impacts of clean energy investment in Pakistan using a dynamic autoregressive distributed lag model

In this study, the authors projected the impacts of clean energy investment on environmental degradation by applying a novel and dynamic Autoregressive Distributed Lag (DARDL) model for Pakistan from 1990 to 2022. Most researchers have used ecological footprint or CO2 emissions indicators to look at how clean energy investment affects environmental degradation, which primarily represents contamination induced by humans' consumption patterns and does not consider the impact of the supply side. Against this background, the study scrutinized the dynamic interaction between clean energy investment and environmental sustainability using the load capacity factor (LCF) as an ecological indicator in Pakistan, including economic growth, population density, trade openness, urbanization, and industrialization in the analysis. The long-run estimates from DARDL indicate that a 1 percent upsurge in clean energy investment mitigates environmental degradation by approximately 0.42 percent on average, controlling for other factors. Further, the study also revealed that a 1 percent increase in clean energy investment diminishes dirty energy consumption by approximately 0.45 percent. The validity of the findings is confirmed using alternate methods, i.e., KRLS. The study recommends that Pakistan prioritize investment in clean energy projects to promote environmental sustainability and enforce environmental regulations to reduce the adverse externalities associated with dirty energy activities.

Sustainable Development Strategies and Assessment for the KYCAI Artificial Island Project in Hong Kong

This paper conducts an in-depth analysis of the sustainable development strategies and assessments for the Kau Yi Chau Artificial Islands (KYCAI) project in Hong Kong. The project aims to provide about 1,000 hectares of land to meet Hong Kong's medium and long-term land demands, enhancing its competitiveness as a financial and commercial center. The study focuses on the project's environmental impact and carbon emissions, providing improvement recommendations to enhance overall sustainability. Key areas include protecting natural ecosystems and restoring biodiversity during the island's construction, optimizing the implementation of low-carbon and clean energy projects, and integrating sustainability principles throughout the project's lifecycle. The government should also assume environmental leadership by combining policy regulations with communication across various stakeholders, ensuring the project achieves sustainable economic, social, and environmental development, laying a solid foundation for Hong Kong's future growth.

Harnessing big data analytics to revolutionize ESG reporting in clean energy initiatives

The integration of Big Data Analytics into Environmental, Social, and Governance (ESG) reporting holds significant potential to revolutionize clean energy initiatives. This paper examines the current challenges in ESG reporting, such as data collection and integration, data quality, regulatory compliance, transparency, and standardization. Big Data Analytics offers advanced techniques, including machine learning, artificial intelligence, predictive analytics, and real-time data processing, which can address these challenges. By leveraging diverse data sources—both structured and unstructured—clean energy projects can achieve more accurate environmental impact assessments, social impact evaluations, and governance analyses. The applications of Big Data Analytics are exemplified through various case studies, such as renewable energy projects, smart grids, and carbon offset programs. The benefits of these applications are vast, including enhanced data accuracy, improved decision-making, increased transparency, better stakeholder engagement, and cost efficiency. However, implementing Big Data Analytics in ESG reporting also presents challenges like data privacy, technological requirements, skills shortage, ethical considerations, and system integration. The future of Big Data Analytics in ESG reporting looks promising with emerging trends like blockchain for data transparency, IoT and sensor technologies, advanced machine learning models, and collaborative platforms. This paper concludes with a call to action for stakeholders to embrace these technologies, highlighting the transformative potential of Big Data Analytics in creating more effective and accountable clean energy initiatives.

Decarbonization of Africa: Metamorphosing the Continent for Sustainable Trajectories

Africa has witnessed significant economic growth and development in recent years, driven by digitalization, industrialization, urbanization, and technological advancements. Despite contributing only a small fraction of global carbon dioxide emissions, Africa is facing the adverse impacts of climate change at an accelerated rate, with warming occurring faster than the global average. The urgent need to identify sustainable approaches for decarbonizing Africa has become paramount. This article highlights the challenges and pragmatic approaches to achieving decarbonization in Africa. The challenges encompass economic, social, and technological aspects, including difficulties in incorporating highly renewable energy and the lack of consideration given to system integration and non-financial aspects. Insufficient investments in low-carbon technologies, the absence of national-level commitments, and limited policies and financing options hinder progress toward decarbonization. Various pragmatic approaches are proposed to address these challenges. Expanding renewable energy sources through financial incentives and partnerships is crucial. Enhancing energy efficiency across sectors, promoting sustainable transportation, and adopting green building practices can significantly contribute to reducing greenhouse gas emissions. Emphasizing sustainable agriculture, forest conservation, and improving access to clean cooking services are vital for mitigating climate change and enhancing public health. Furthermore, international cooperation and financing are crucial in mobilizing resources for clean energy projects and decarbonization initiatives. Strengthening partnerships and creating supportive regulatory frameworks can attract private sector investment and promote a sustainable, low-carbon future for Africa.

Infrastructure Investment and Industrial Competitiveness in Uttarakhand

In this research paper, I have provided a comprehensive analysis of “Infrastructure Investment and Industrial Competitiveness in Uttarakhand.” In Uttarakhand, the relationship between infrastructure spending and industrial competitiveness symbolizes a transforming story. By strategically investing in digital infrastructure, electricity production, and transportation networks, this northern Indian state has changed the face of its economy. Strong network of roads, railroads, and airports have eased logistical restrictions, promoting the expansion of a variety of enterprises. The state of Uttarakhand has become a global pioneer in sustainable energy because to investments in clean energy projects, notably hydroelectric electricity and solar energy, which has increased industrial production. Effective e-governance and online education have been made possible by digital connection, spurring industrial innovation. Uttarakhand is a developing industrial powerhouse because to its aggressive policies, competent people, and favorable business climate. Manufacturing, pharmaceuticals, textiles, information technology, and agriculture have all seen rapid growth as a consequence, greatly enhancing the state's economic competitiveness. This seamless fusion of economic prowess and infrastructural investment highlights Uttarakhand's amazing trajectory toward becoming a model of sustainable development and international acclaim.

Information communication technology, globalization, and energy poverty: Prospects for sustainable development in the N‐11 countries

AbstractEnergy poverty is a significant barrier to sustainable development, affecting millions of people worldwide. However, technology offers innovative solutions that can bridge the energy gap and promote access to reliable and affordable energy services. In this study, we analyze the impact of ICT and globalization on energy poverty in N‐11 countries from 1990 to 2021, utilizing education, financial development, and economic growth as control variables. Results explain that the impact of ICT on energy poverty in lower quantiles appears to be relatively weak and positive, suggesting that it may be of limited effectiveness in reducing energy poverty in the most vulnerable populations. At higher quantiles, however, the impact becomes increasingly hostile, which suggests that higher ICT levels may exacerbate energy poverty among those who are already experiencing it. Energy poverty tends to decrease as globalization increases, as evidenced by the statistically significant negative coefficients across all quantiles. At the 10th percentile (Q0.1), an increase of one unit in globalization is associated with a reduction of 0.898 in energy poverty. Similarly, at the 90th percentile (Q0.9), an increase of one unit in globalization increases to 0.050 in energy poverty. It is possible to optimize resource utilization, reduce costs, and increase energy access through regional energy cooperation frameworks, such as cross‐border electricity grids or gas pipelines. In order to promote sustainable energy practices among citizens, the government should prioritize investing in clean energy projects, promoting energy conservation, and raising awareness of the importance of sustainable energy practices.

Getting to Green: International Financing for Green Energy Infrastructure in Developing Countries

One of the symposium panels discussed financing clean energy projects. One panelist in particular expressed concern about how to build developing countries’ institutional capacity to utilize international financing for green energy. Global institutions like the World Bank and the International Monetary Fund (IMF) provide loans to developing countries conditioned on the countries privatizing and deregulating their energy sectors—otherwise known as austerity. While austerity measures may make sense in developed countries, this Comment argues that developing countries often lack the infrastructure needed to effectively utilize international financing precisely because the loans are conditioned on austerity. The World Bank and the IMF should therefore change the conditions of their loans from privatization to public-sector investment in infrastructure. Amending the conditions for green energy loans would make privatization more feasible in the future and promote the transition to green energy in developing countries.

Potential capacity and cost assessments for hydrogen production from marine sources

The current study comprehensively examines the application of wave, tidal and undersea current energy sources of Turkiye for green hydrogen fuel production and its cost analysis. The estimated potential capacity of each city in the country is derived from official data and acceptable assumptions and is subject to discussion and evaluation in the context of a viable hydrogen economy. According to the findings, the potential for green hydrogen generation in Turkiye is projected to be 7.33 million tons using a proton exchange membrane electrolyser (PEMEL). Cities with the highest hydrogen production capacities from marine applications are Mugla, Izmir, Antalya, and Canakkale with 998.10 kt, 840.31 kt, 605.46 kt, and 550.42 kt, respectively. The study calculations obviously show that there is a great potential by using excess power in producing hydrogen which will result in an economic value of 3.83 billion US dollars. This study further helps develop a detailed hydrogen map for every city in Turkiye, using the identified potential capacities of renewable energy sources and the utilization of electrolysers to make green hydrogen by green power. The potentials and specific capacities for every city are also highlighted. Furthermore, the study results are expected to provide clear guidance for government authorities and industries to utilize such a potential of renewable energy for investment and promote clean energy projects by further addressing concerns caused by the usage of carbon-based (fossil fuels dependent) energy options. Moreover, green hydrogen production and utilization in every sector will help achieve the national targets for a net zero economy and cope with international targets to achieve the United Nation's sustainable development goals.

Developing a conceptual partner selection framework for matching public–private partnerships of rural energy internet project using an integrated fuzzy AHP approach for rural revitalization in China

The development of rural clean energy is the key to cope with the shortage of traditional energy supply in the rural revitalization strategy and improve the sustainability of rural energy supply. Under the background of digital age, the development and utilization of rural clean energy Internet has become the focus of rural economic development. The government partners of the Rural clean Energy Internet PPP project (RCEIPPPP) are the key to promoting the green and intelligent development of rural energy. In this paper, the index system of project partner selection is constructed, and the problem of government partner selection for RCEIPPPP is studied by AHP and fuzzy comprehensive evaluation. The results of this study are as follows: 1) Partners' financial ability, technical ability, management ability, performance experience, corporate reputation, cooperation ability and risk management are the influencing factors for government partner selection of rural clean energy Internet PPP projects (RCEIPPPPs); 2) Compared with other factors, financial ability, technical ability, management ability and performance experience are the four key factors that are more important in choosing partners; 3) The empirical research shows that AHP, fuzzy comprehensive evaluation and the index system constructed by this research can be applied to the practice of government partner selection for RCEIPPPPs. This study puts forward the evaluation system of government cooperation selection of energy Internet PPP projects from the theoretical level, improves the existing research methods, and makes the theoretical system in this field more complete. From the practical level, it provides scientific basis and suggestions for the government to make decisions on energy Internet PPP projects, and improves the engineering efficiency and quality of rural clean energy Internet construction. This study demonstrates the complexity of clean energy projects, the need for an integrated approach to decision-making, and the need for project managers to actively manage communication and collaboration with partners to ensure successful project implementation.

Combinative distance-based assessment method using linguistic T-spherical fuzzy aggregation operators and its application to multi-attribute group decision-making

Clean energy has become a hot topic worldwide because of the continuous rise in the climate's temperature. Reduced air pollution is only one of the many economic and environmental advantages of clean energy. An effective contractor with experience and knowledge in clean energy projects is always required to handle the complicated process of planning, implementing, and maintaining the new clean energy infrastructure. Contractor selection for renewable energy projects (REPs) is a multi-attribute group decision-making (MAGDM) problem. Linguistic T-spherical fuzzy set (LT-SFS) can be compatible with fuzzier information, and the contractor selection problem also has a lot of fuzzy information, which makes LT-SFS very suitable for contractor selection for REPs. Hence, the present work proposes a MAGDM methodology utilizing a combinative distance-based assessment (CODAS) method within the LT-SF context. For that, the Einstein and Frank t-norm and t-conorm has been used to define new and generalized operational laws for linguistic T-spherical fuzzy numbers. Then, the linguistic T-spherical fuzzy Einstein and linguistic T-spherical fuzzy Frank aggregation operators are proposed to integrate the information data provided by experts. Moreover, the proposed aggregation operators based-CODAS approach is designed to evaluate and rank the available alternatives. A real-life decision problem of selecting the best suitable contractor for a renewable energy project is solved to verify our suggested technique. Moreover, the sensitivity analysis is also carried out by changing the parameter's value to check the consistency of the rank order. Finally, the new model is compared with existing approaches to demonstrate its strength. The comparative analysis shows that the results of the suggested technique are more feasible and beneficial than those of existing approaches.

Effectiveness and efficiency of support schemes in promoting renewable energy sources in the Spanish electricity market

This research paper delves into the central mechanisms implemented in Spain to foster the adoption of clean energy projects. The study scrutinizes various mechanisms established from 2005 onwards, evaluating their efficacy in achieving the desired outcome of supporting clean energy project implementation. The aim is to comprehensively assess the associated costs, effectiveness, and attainment of renewable energy objectives stemming from implementing diverse support schemes. This paper explores the effectiveness of feed-in tariffs and feed-in premium mechanisms in promoting the integration of new renewable energy generation into the power system. However, the Spanish experience suggests that exhaustive planning control is imperative to prevent excessive support costs that could jeopardize the entire market and cause a significant rise in final energy costs. The research studies the support schemes and associated market distortion and presents the roadmap from regulated tariffs to a “total market” for wind and solar energy. The findings demonstrate that, under proper supervision and planning, a transitional retribution scheme effectively promotes renewable energy plant integration. Finally, the analysis examines the need to regulate the excess benefits that non-emitting power sources receive in a marginal price market, as this can lead to market imbalances and a substantial increase in final costs. These plans serve as a crucial tool in achieving the decarbonization objectives of the European Power System.

Pricing of Chinese Certified Emissions Reduction Scheme in a Supply Chain Under the Cap-and-Trade Policy

Abstract Against the backdrop of carbon trading, the Chinese Certified Emissions Reduction (CCER) scheme is one of the most important measures of China to reduce carbon emissions. We study a supply chain consisting of a CCER supplier and a manufacturer that buys CCER quotas from the supplier. The supplier is a non-emissions-control enterprise engaged in clean energy projects, while the manufacturer is classified into three types: a clean, a relatively clean, and an unclean firm. We analyse the impacts of the price and offset rate of CCER quotas on firms’ emissions reductions. We find that when the price of CCER quotas is lower than the price of Chinese Emissions Allowances (CEAs): (1) for both clean and unclean manufacturers, with increasing CCER offset rate (quota price), technical emissions reduction decreases (increases). (2) The incentive for the relatively clean manufacturer to reduce emissions is not affected by other extraneous factors. When the prices of CCER quotas and CEAs are uncertain, we find that (1) the technology abatement decisions of the three types of manufacturer are consistent and the corresponding CCER suppliers price their CCER quotas in the same way. (2) When the proportion of CCER quotas purchased by the manufacturer increases, the unit technical emissions reduction increases. Confirming that introduction of the CCER scheme can reduce carbon emissions, our findings provide theoretical guidance for suppliers to make pricing decisions on CCER quotas and for manufacturers to make technical emissions reduction decisions.

Energy efficiency investment in a developing economy: financial development and debt status implication

Purpose This study aims to assess financial development and debt status impact on energy efficiency in Nigeria as a developing economy. Design/methodology/approach This study combined the autoregressive distributed lag (ARDL), fully modified ordinary least squares and canonical cointegration regression analytical methods to estimate the parameters for energy efficiency policy recommendations. Secondary data between 1990 and 2020 were used for the analysis. Findings The result confirms the long-run nexus between energy efficiency, financial development and total debt stock. Furthermore, the ARDL estimates for this study’s key variables show that financial development promotes energy efficiency in the short run but hinders long-run energy efficiency. Total debt stock limits energy efficiency in Nigeria in short- and long-run periods. Research limitations/implications The limitation of this study is that the scope is limited to Nigeria as a developing economy. The need to support energy efficiency projects is a global call requiring cross-country analysis. Despite this study’s focus on Nigeria, it provides useful insights that can guide energy efficiency policy through the financial sector and debt management. Practical implications The financial sector must ensure the availability of long-term credit facilities to clean energy investors. The government must maintain a sustainable debt profile to pave the way for capital expenditure on clean energy projects that promote energy efficiency. Originality/value The environmental consequences of energy intensity are being felt globally, with the developing countries most vulnerable. The cheapest way to curb these consequences is to promote energy efficiency to reduce the disastrous effect. Driving energy efficiency requires investment in energy-efficient technology but the challenge for developing economies, i.e. Nigeria’s funding, remains challenging amid a blotted debt profile. This becomes crucial to investigate how financial sector development and debt management can accelerate energy-efficient investments in Nigeria.

Evaluation of the Implementation of the Green Banking Concept at Bank XYZ

Indonesia is committed to Undang-Undang Nomor 16 Tahun 2016 concerning the Paris Agreement on Climate Change. To support this commitment, the role of banking, including Bank XYZ, is crucial in financing clean energy projects and other business sectors. Although Bank XYZ has shown growth in green financing since 2016, there are notes regarding financing in the coal sector between October 2018 and October 2020, as well as a decline in the ranking in the 2022 Bank Ranking Report. Therefore, an evaluation of the concept of green banking at Bank XYZ is needed to maintain its growth and ensure the effectiveness of its implementation from 2017 to 2022. This research employs a qualitative approach to analyze the implementation of green banking at Bank XYZ. The evaluation is conducted through interviews with the Risk Management Division and an analysis of sustainability reports using the Green Banking Disclosure Index (GBDI). Bank XYZ has proven to implement the concept of green banking transparently, but there are shortcomings such as a lack of transparency in sustainability budgeting, attention to debtors, internal controls, sustainability campaigns, and the use of renewable technology. This research is expected to enhance the quality of green banking implementation at Bank XYZ, support environmental preservation, and address existing weaknesses.

Investing in green bonds and its impact on stock prices and profitability for banks A study of his analysis of a sample of Canadian banks, Royal Bank, as a model For the period (2005-2022)

Investing in clean energy projects requires non-traditional tools, including green bonds, as they provide a set of advantages that qualify the projects to obtain financing. Therefore, this study aims to demonstrate the impact of Canadian banks introducing green bonds in their list of investments and the extent of their impact on the prices and returns of their shares. In the financial market , The study relied on the most important test for normal distribution, which is the Kolmogorov-Smirnov test, and a time series for a period of (18) years, from (2005 - 2022), as the bank did not deal in green bonds for the period (2005 - 2013), that is, for a period of (9) years. Green bonds were dealt with for the period (2014-2022), The results of the study showed that there was a clear increase in the stock price and its profitability after investing in green bonds over the previous period of this investment. In order to test the significance of this increase, the statistical program (Statgraphics V.18) was used.

Cost efficiency of municipal green bonds’ measures: a marginal abatement cost curves approach

PurposeWith more cities aiming to achieve climate neutrality, identifying the funding to support these plans is essential. The purpose of this paper is to exploit the present of a structured green bonds framework in Sweden to investigate the typology of abatement projects Swedish municipalities invested in and understand their effectiveness.Design/methodology/approachMarginal abatement cost curves of the green bond measures are constructed by using the financial and abatement data provided by municipalities on an annual basis.FindingsThe results highlight the economic competitiveness of clean energy production, measured in abatement potential per unit of currency, even when compared to other emerging technologies that have attracted the interest of policymakers. A comparison with previous studies on the cost efficiency of carbon capture storage reveals that clean energy projects, especially wind energy production, can contribute to the reduction of emissions in a more efficient way. The Swedish carbon tax is a good incentive tool for investments in clean energy projects.Originality/valueThe improvement concerning previous applications is twofold: the authors expand the financial considerations to include the whole life-cycle costs, and the authors consider all the greenhouse gases. This research constitutes a prime in using financial and environmental data produced by local governments to assess the effectiveness of their environmental measures.

Colour Symbolism in Finance

Abstract Colour symbolism plays an important role in everyday life and science. The subject is interdisciplinary and receives significant attention in the literature. It is increasingly entering the field of economics and finance. The authors are the first to research the connotations and symbolism of colours in finance. The following research aims to: identify and determine the meaning of colours in connection with the word “finance”, determine the popularity of the use of particular colours in relation to the word “finance”, and identify the most popular subject areas in the literature related to the most commonly used colour in finance. Bibliometric and textual analyses were adopted as research methods. The main research conclusions are as follows. Of the 14 colours examined, only green, blue, brown, black and white showed connotations accurately portrayed in the text. Apart from the colour black, the symbolism is universal and unambiguous. For black, the symbolism is twofold, with one of the meanings going back to historical times. The dominant colour is green. The main research areas pursued under “green finance” include investing in and financing environmentally friendly projects (including various types of technology), developing financial instruments to support environmentally friendly activities and supporting clean energy projects.