Solar Energy Investments Research Articles

Consumer Motivations for Solar Energy Adoption in Economically Challenged Regions

This study aims to investigate the factors contributing to and affecting consumer behavior toward renewable energy by following the theories of reasoned action and planned behavior. For this reason, a quantitative research method was employed and primary data were collected via a questionnaire, resulting in a random sample of 450 respondents. Structural equation modeling (SEM) revealed that concern for environmental commitment positively affects attitudes toward solar energy (β = 0.272, p < 0.001), positive subjective norms toward environmental commitment positively influence attitudes (β = 0.092, p < 0.001), perceptions of solar energy values significantly shape attitudes (β = 0.533, p < 0.001), social influence also plays a role in shaping attitudes (β = 0.047, p < 0.001), and that regulations (behavioral control) have a negative impact on attitudes (β = −0.204, p < 0.001). A positive attitude toward solar energy strongly predicts purchase intention (β = 0.944, p < 0.001). The overall model highlights the direct influence of attitude on buying intention and underscores the roles of environmental concern and functional utility in shaping consumer attitudes. This study contributes to the existing literature on renewable energy adoption by providing empirical evidence on the factors influencing consumers’ attitudes toward solar energy systems. By identifying key predictors, the study offers valuable insights into how these elements shape consumer attitudes and subsequent purchase intentions. Additionally, the study enhances the understanding of the role of positive attitudes in driving investment in solar energy, thereby contributing to both theoretical frameworks and practical applications in energy policy and marketing strategies.

Performance evaluation of sustainable energy alternatives to obtain efficient hybrid energy investments

This study evaluates the synergy of coalition for hybrid renewable energy (RWB) system alternatives. In this context, the alternative sources of hybrid RWB system are examined to illustrate the impact-relation directions among them with multi SWARA based on q-ROFs and golden cut. Next, the performances of renewable alternatives are measured in terms of the synergy of coalition with game theory and Shapley value. It is concluded that solar energy is the most suitable RWB alternative for synergy to increase efficiency in investments. However, biomass does not have a significant influence on providing synergy in energy investments. Therefore, solar energy should be prioritized for hybrid energy investments. Especially with the effect of technological developments, the efficiency of solar energy investments increases significantly. Thus, solar energy investments have become quite suitable for increasing the synergy in hybrid energy projects. Furthermore, necessary research should be conducted to make biomass energy more efficient.

Assessing Decarbonization Approaches across Major Economies

The global energy transition is an uneven process, fundamentally related to the level of economic development of countries and their access to energy resources (renewable and non-renewable) to a large extent. The global climate is interconnected, and all nations impact it through their products and services. The six countries discussed—China, Brazil, Germany, Japan, Russia, and India—account for 44.8% of global primary energy consumption and 49% of global CO2 emissions. Each of them has its own strategy for achieving carbon neutrality, based on different decarbonization scenarios, which, according to the authors, depend on geopolitical factors, national economy characteristics, and the established pragmatic goals and objectives. However, the “green agenda” itself may not always be among the top priorities when formulating energy strategies. The study objective is to analyze the feasibility of the stated goals in these countries using a combined logistic curve-based forecasting tool for predicting solar and wind production as well as investment volumes. It aims to justify the relation between solar and wind energy production and investment policies using a calculated technological coefficient. Results show similar, but time-shifted fluctuating investment dynamics in solar and wind energy trends in Japan, Germany and China, with Germany and Japan outperforming investment forecasts when considering the technology efficiency coefficient. Furthermore, the findings highlight the overwhelming appreciation of the unevenness of the green transition process, which will consequently make it impossible to meet the goals of the Paris Agreement until 2050. Taking these factors into consideration, exploratory decarbonization scenarios for these six major world economies alongside two dimensions, namely, the pace of green transition versus green technology and versus resources, are presented.

Life cycle climate performance of photovoltaic power plant for Turkey’s solar power conditions

ABSTRACT In this study, a solar power plant with an output power of 10 kW AC was designed according to the Turkish Electricity Legislation. Silicon-based photovoltaic modules were used in the design. The solar power plant’s annual and lifetime electricity generation was calculated for 81 provinces of Turkey. The study contributes significantly to the literature by evaluating the environmental impacts of energy sources in a more realistic way. According to the electricity generation calculations, the power plant in Trabzon generates a minimum of 13,037 kWh of electricity per year. In comparison, the power plant in Antalya generates a maximum of 18,562 kWh. Over the plant’s life, Antalya will generate 464,040 kWh of electricity and Trabzon will generate 325,929 kWh. The life cycle climate performance technique was used to understand the environmental impacts during the installation phase, and these values were determined to be 5759 kgCO2. Emission values from electricity generation vary between 0.01241 and 0.01767 kgCO2 per kWh. These data provide a comprehensive assessment of the environmental impacts of solar power plants. This study contributes to the literature by investigating the potential and environmental effects of solar energy in different regions of Turkey in detail. In particular, presenting the emission values of electricity generation from photovoltaic systems for each province provides valuable data that can be used in shaping energy policies and developing environmental strategies. This unique study will provide a scientific basis for planning and implementing solar energy investments in Turkey and contribute significantly to developing energy policies and environmental strategies.

Dynamic (Mis)allocation of Investments in Solar Energy

Dynamic (Mis)allocation of Investments in Solar Energy

Photovoltaic sizing assessment for microgrid communities under load shifting constraints and endogenous electricity prices: A Stackelberg approach

Renewable energy resources are crucial for decarbonizing the energy sector. Distributed energy resources, such as renewable generation by microgrids, aid the transition to net-zero systems. As microgrids proliferate, renewable generation often exceeds self-supply capacities, necessitating either the sale of excess electricity or the implementation of demand-response strategies. The optimal approach for microgrids (selling or shifting demand) hinges on electricity prices. This article examines the interplay between microgrids, demand response, photovoltaic investments, and pricing mechanisms. A novel Stackelberg model is proposed to minimize microgrid investment and operational costs. The upper-level problem determines energy community investments and demand response levels based on electricity prices, while the lower-level problem addresses market dispatch and endogenous pricing for microgrids. Case studies with varying battery storage levels, demand response limits, and pricing mechanisms are conducted. The research results illustrate the responsiveness of market transactions to supply conditions and pricing. Key findings show that microgrid flexibility in demand response reduces grid dependency, prompting significant investments in solar energy and battery storage, driven by economic incentives, especially under spot market conditions. Investments in solar energy more than double when microgrids trade energy at spot prices compared to flat prices.

Identifying the influence of climate policy uncertainty and oil prices on modern renewable energies: novel evidence from the United States

Abstract The policy uncertainty surrounding climate change can intensify the urgency of implementing climate policies and influence investment decisions, thereby serving as a catalyst for policy transformation. In this context, given its withdrawal from and subsequent re-commitment to the Paris Agreement, the United States (US) may experience policy uncertainty over climate change. Given this backdrop, it is of paramount importance to explore how the uncertainties caused by shifts in climate policy affect clean energy. This study delves into the impact of climate policy uncertainty and oil prices on modern renewable energy sources, such as solar, wind, geothermal, and biofuels. The most recent monthly data from 1989 to 2023 are used by conducting the Residual Augmented Least Squares (RALS) methodology. The empirical findings show that the uncertainty surrounding climate policy is leading to a shift in the US energy composition, with a focus on solar energy, wind energy, and biofuels. Moreover, the fluctuation in oil prices has a significant effect on the deployment of wind and biofuels, but no discernible effect on solar power. These findings provide significant insights for aligning climate policy in the US with Sustainable Development Goal (SDG) 7, highlighting the crucial importance of encouraging investments in solar energy, wind energy, and biofuels. Graphical abstract

CNA Insider's Documentary on China's Contradictory Actions towards Investing in Fossil Fuel Industries

The research paper analyses the documentary series-China’s Contradiction: World’s Biggest Clean Energy Producer and Biggest Polluter?, produced by Channel News Asia (CNA) Insider, which highlighted China's efforts in increasing coal production, despite producing huge amounts of green energy. China has emerged as the world’s No.1 producer of solar energy in the world, by producing over 430 GW solar energy and is also the world's largest manufacturer of solar equipment, superseding other countries like the U.S.A., Germany, India, and Japan. In spite of being the largest producer of ‘clean’ energy, China has started constructing several coal power plants, to meet the country’s energy requirements, by directly contradicting its statement that it will peak emissions by 2030 and attain net zero by 2060. So the study adopts case study approach to decipher China’s efforts in its increased interest and investment in solar energy, and its reasons behind investing in coal plants as well, After analysis, it is concluded that China's ambitions in investing in the solar industry is for overall economic development, and the country is not yet ‘ready’ to become completely green because of its high dependence on coal for generating cheap electricity at all times of the year.

Smart Initiatives to Drive Solar Energy Investments under Environmental Uncertainty: Exploring Linear and Quadratic Relationships

Smart Initiatives to Drive Solar Energy Investments under Environmental Uncertainty: Exploring Linear and Quadratic Relationships

The Future of Solar Investments in MOROCCO

The future of solar investments in Morocco looks bright, thanks to the country's significant solar capacity and favorable geographic conditions. This study offers a thorough examination of the potential for solar energy investment in Morocco, with a focus on the country's current state, political landscape, technological advancements, and the socioeconomic and environmental effects. It also explores the future trends in the country including artificial intelligence (AI) for renewable energy prediction and green hydrogen production. The study also delves into the updated solar policy framework in the country, highlighting its goals of achieving 80% renewable energy by 2050 and installing 6000MW of solar capacity by 2030. It also examines the regulatory structures, incentive programs, and strategies aimed at reducing dependence on fossil fuels and attracting more investments in solar energy projects. The study analyzes the practicality of these policies, taking into account economic sustainability, technological progress, environmental effects, and infrastructure improvements. The findings propose an effective system for improving solar investments and attaining sustainable energy goals in Morocco.

Exploiting green energy potential via FinTech: The role of DLT-based crowdfunding in PV and ESS investments

This article explores the interplay of green energy potential and innovative financial technology (FinTech). To achieve this, an in-depth study on the technological, economic, and environmental aspects of residential-scale solar energy and storage investments was performed. As the first part of the study, residential-scale solar energy and associated energy storage investments were modeled in the assessed countries. As the next step, the effects of Distributed Ledger Technology (DLT) enabled crowdfunding on the modeled investments were highlighted with a Proof-of-Concept (PoC) DLT-enabled investment tool. As the last step, the Life Cycle Assessments (LCAs) of the investments were carried out for each of the assessed countries in order to provide better investment decisions to various investors. The results of this research indicate that with the integration of novel Fintech tools, the Levelized Cost of Storage (LCOS) values of the assessed investments may be reduced by up to 58%. Meanwhile, the LCA results highlighted that solar silicon production and battery cell manufacturing have the highest LCA results, accounting for 19.1 and 63.8 kgCO2eq/kWh respectively. Meanwhile, the transportation sector had an emission of 9 kgCO2eq/kWh. Thus, with cleaner manufacturing and transportation, the emissions from PV and ESS investments may be reduced drastically.

Estimate of return on investment in solar energy in schools in Sergipe

With the growing demand for energy and the environmental challenges associated with the use of fossil fuels and electrical energy in the world, the need to seek energy efficiency to reduce consumption and greenhouse gas emissions is highlighted. In addition, it has reinforced the search for renewable energy sources, emphasizing solar energy, as a sustainable alternative to meet energy demand, especially in Brazil, due to its potential for solar radiation. Public buildings, in particular schools, are identified as significant consumers of electricity, and it is pointed out that the high consumption is not only due to excessive use by consumers, but also to the intensive use of artificial lighting and conditioners of air. As it is an extensive country with high solar irradiation, there is, so, an alternative to reduce environmental impacts. The study area involved 310 schools in Sergipe, and the consumption of electricity was obtained from the website of the Sergipe Department of Education. To simulate the deployment of solar panels, the NEOSOLAR online calculator was used along with the energy tariff, providing information on average investment, and estimated monthly savings. The payback period was calculated using the Simple Payback Method for each school individually. The payback period for all schools was less than 10 years. Thus, it is concluded that the use of solar energy in these establishments proved to be an economically, socially, and environmentally viable practice.

Recent Trends in Renewable Energy Adoption and their Economic Implications

In this work we have conducted systematic review following the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) guidelines and explore how recent changes in using renewable energy have affected the economy. We have examined 50 articles that were published in peer-reviewed journals between 2010 and 2024. These articles were chosen after a careful screening based on relevance and methodological quality. The main drivers find were technological advancement in solar and wind energy along with policy interventions such as subsidies and carbon pricing. Our main results assert the significant growth in renewable energy capacity with solar energy expanding at rate of 15 percent and wind energy at 10 percent. This growth has been accompanied by a 120 percent increase in investment in solar energy and creation of millions of jobs globally. However, transition also presents challenges particularly, regarding economic impact on traditional fossil fuel industries and the need for equitable acess to renewable resources. While renewable energy adoption offers substantial economic benefits, achieving just transition will require targeted policy interventions and infrastructure investment.

Interaction Between Social Acceptance and Humanistic Green Techno Educational Capability in Supporting Environmentally Friendly Solar Energy Investments in Jember District

The development of a dynamic energy system requires adjustments to energy policies that are in line with and receive strong support from human resources in government and society. One of the most effective and sustainable policies is encouraging investment in environmentally friendly infrastructure, such as renewable energy. The potential of solar energy, which is a renewable energy source, offers a solution to the energy crisis experienced by developing countries. In this research, a new concept is proposed which is known as "the interaction between social acceptance and investment readiness (SONVES) as a mediator of green_ Techno Humanistic Education Capability towards solar PV investment readiness". This aims to determine the effect of increasing social acceptance, technology acceptance, environmental awareness, and economic value which are expected to have a positive effect on investment readiness. This research model uses a quantitative descriptive approach to describe the situation objectively using data in the form of numbers. overall investment readiness.

Real options valuation of photovoltaic investments: A case from Turkey

Investments in renewable energy resources have become inevitable due to increasing energy demand and energy prices, diminishing non-renewable energy resources, and the outgrowth of carbon footprints. Photovoltaic (PV) systems offer high solar energy potential in sustainable energy production whereas their high initial costs necessitate critical strategic valuation of investments. Valuation with conventional methods has been challenging due to existence of uncertainties such as fluctuating PV panel prices, changing meteorological conditions with certain effects on power generation, and governmental policies on energy market regulations. This study aims to propose a real options approach to valuation of residential rooftop PV system investments considering these uncertainties and demonstrate benefits of this approach with an application on the residential PV investment decisions in Turkey. The proposed method, Real Options Valuation (ROV) with Least-Squares Monte Carlo Simulation (LSMC) considers the deferral option of the investor by utilizing stochastic simulations, the discounted cash flow method, linear regression, and backward dynamic programming and thus evaluates the effects of uncertainties on financial attractiveness of residential PV investments. The case study findings proved that ROV with LSMC having a 7-years deferral option supported the investment decision with realizable cost-effective options while “NPV method” resulted in an infeasible investment. Scenario analysis was also conducted to explore policy options that can be used to promote solar energy investments in Turkey. This study has a potential to have practical contributions for investors as well as implications for policy-makers.

Resources policies for solar development and eco-tourism expansion in emerging economies

This research employs a thorough panel data analysis encompassing 10 emerging economies to assess the influence of solar energy consumption on tourism development spanning from 2000 to 2022. Using the CUP-FM (continuously updated full modified) technique, the results unveil a noteworthy and positive correlation. A 1% increase in solar energy consumption is associated with an approximate 0.35% upswing in tourist arrivals, underscoring the pivotal role of solar energy investment in expanding the tourism sector. Factors such as economic stability, price competitiveness, and a balanced approach to technological advancements play key roles in fostering a thriving tourism industry. The implementation of pragmatic policies, including increased funding for solar projects, the establishment of a green bonds market, digitalization of the green financial sector, and exploration of cryptocurrency for solar initiatives, can significantly bolster the tourism sector and advance sustainable energy initiatives.

Modelling the impact of renewable energy investment on global carbon dioxide emissions

The adversities of climate change facing the world highlight the importance of reducing the rise of global carbon emissions (CO2E), which is a top priority for policymakers and researchers. Renewable energy is hailed as a remedy to the rise in global CO2E. However, there are persistently low levels of global renewable energy investment (REI). This study, therefore, examines the linear and non-linear effect of REI (measured by solar, wind, small hydropower, geothermal, biomass, marine, and biofuel energy investment) on CO2E using a global dataset from 2004Q1 to 2018Q1. The study also examines the economic growth mechanism through which REI influences CO2E. Using the Ordinarily Least Squares model, the findings show that all the measures of REI significantly increase CO2E from the linear analysis. However, the non-linear analysis showed that solar and wind energy investment have a statistically significant inverted U-shaped relationship with CO2E while small hydropower and biofuel energy investment have a statistically significant U-shaped relationship with CO2E. Thus, solar and wind energy investment reduce CO2E only after attaining a threshold of investment with the threshold value of solar and wind energy investment being 28.125 (representing about $1.64 trillion) and 26.308 (representing about $266.3 billion), respectively. Also, the threshold value of small hydropower and biofuel energy investment beyond which they increase CO2E are 20.071 (representing about $520.9 million) and 22.8 (representing about $7.978 billion), respectively. Finally, solar, wind and geothermal energy investment indirectly reduce CO2E by increasing green economic growth while the reverse exists for biofuel energy investment. Solar and wind energy investment is, therefore, recommended for attaining carbon neutrality targets. Policymakers should incentivize production tax credits, investment tax credits, feed-in-tariffs, subsidies, affordable loans, and research and development to drive solar and wind energy investment.

Investigation of electricity distribution, shortages in the Gaza strip, and the role of renewable energy technologies for addressing the electricity crisis

This study examines the electricity crisis in the Gaza Strip and its impact on public well-being. Adopting a sequential exploratory mixed-methods approach, data were collected from 350 households and key institutions. The research assesses the current state of renewable power technologies applicable to the region and develops a performance matrix to identify the most suitable technology for providing clean and affordable electricity. The findings highlight solar energy as the most viable solution for addressing the electricity shortage in the Gaza Strip. Moreover, the study underscores the adverse effects of electricity shortages on vital services, including health, water, and sanitation, as well as the fragile economy. The research recommends strategic investments in solar energy as a reliable and cost-effective solution that is readily accessible to meet the energy needs of the Gaza Strip and Palestine at large. This study provides a valuable resource for national and international NGOs, offering insights into the strengths, weaknesses, opportunities, and threats within the Gaza Strip's electricity sector.

The analysis of solar energy investment, digital economy, and carbon emissions in China

Solar energy supports sustainable economic growth by meeting the world’s growing demand for energy while addressing climate change and reducing emissions. The literature focuses on the impact of solar energy on carbon emissions, but ignores the role of solar energy investment and the digital economy. This study investigates the influence of solar energy investment and digital economy on carbon emissions in China with the STIRPAT model. It uses the SYS-GMM method to empirically test the proposed hypotheses using provincial data for China from 2011 to 2019. The empirical results show that solar energy investment notably reduces carbon emissions. The moderating effect analysis shows that China’s digital economy has a reverse moderating effect in the process of solar energy investment, affecting carbon emissions. The results of this research can be a useful contribution to the goal of carbon emission reduction in China, and relevant policy recommendations are proposed for the findings of this research. To reduce carbon emissions and help China reduce carbon emissions targets as soon as possible, more attention should be paid to solar energy investment. The rational use of the digital economy in investing in solar energy should be on the agenda.

Evaluating risk factors in solar energy investments: A strategic approach for Iran’s market

Renewable energy investment has become increasingly vital for the sustainable development of countries. This research aims to introduce a new strategic approach for analyzing investment risks in renewable energy systems, with a particular focus on solar energy. The study employed qualitative analysis to prioritize risks associated with solar energy investment in Iran. A total of fifty-five risks were identified across six categories, and each risk was evaluated based on Failure Mode Effect Analysis (FMEA) criteria, the effectiveness of response strategies, and its potential to pose a threat or offer an opportunity. Subsequently, the risks were categorized into two-factor and three-factor grids, and all identified risks were ranked across nine levels to develop a strategic response plan. The findings indicate that technical and market risks present greater opportunities, whereas risks associated with policymaking, financial aspects, operational factors, and social considerations pose significant threats overall.