Adoption Of Renewable Energy Research Articles

Decoding the Environmental Synergy in BRI Nations: Analyzing the Influence of Renewable Energy Adoption, Financial Evolution, FDI, and Capital Resilience on Sustainability

In response to escalating global concerns over environmental degradation, this study explores the intricate relationships between financial development (FD), foreign direct investment (FDI), capital adequacy, renewable energy consumption (REC) and environmental sustainability in BRI. We aim to provide nuanced insights into how these economic variables impact environmental quality, contributing to a comprehensive understanding of the complex interplay between economic development and environmental conservation. We aim to explore the associations between FD, FDI, REC, and capital adequacy, and environmental quality, emphasizing short-term and long-term dynamics. We employ the Autoregressive Distributed Lag (ARDL) model and conduct D-H causality tests to discern these variables' temporal and causal relationships. This methodology allows us to capture the complexities of the relationships and provide a robust analysis of their impacts on environmental sustainability. The findings reveal a positive long-run association between FD and environmental quality, suggesting that a well-developed financial sector may contribute positively to environmental outcomes. However, the short-run dynamics introduce complexity, indicating a potential immediate positive impact and raising questions about contextual factors influencing FD's contribution to increased carbon emissions. Shifting the focus to FDI and REC, our research uncovers a potential positive association with environmental quality in the long run. The short-run analysis introduces nuances, suggesting a potential negative impact, reflecting the mixed effects observed in previous studies, which underscores the importance of considering temporal dimensions and policy interventions to enhance the positive contributions of FDI and REC to environmental sustainability. Further, our study delves into the impact of capital adequacy on environmental sustainability, revealing a positive long-run association, which challenges negative associations, underlining the need for tailored policies to balance economic growth and environmental conservation. As a whole, our findings contribute quantitative evidence to guide policymakers in fostering incremental improvements over time, acknowledging the multifaceted nature of the relationships under consideration.

Evaluation of decarbonization cost transfer: From transport to power sector in South Korea

To achieve net-zero emissions, major countries have implemented energy transition and electrification policies, incurring significant costs. Each sector, including generation, industry, transport, and buildings, has its own decarbonization strategy. However, as net-zero emission is a cross-sectoral issue, decarbonization efforts in one sector can impact others. In this study, we employed a combination of renewable energy adoption planning, battery electric vehicles (BEVs) charging pattern simulation, and electricity market modeling to evaluate the cost implications of transitioning to BEVs in the transport sector and its subsequent impact on the power generation sector. We considered long-term Korean policies for the power and transport sectors when constructing scenarios to compare transition costs. Our results indicate that, while the additional electricity demand from BEVs increases electricity system costs, utilizing nuclear power can significantly reduce these costs. The estimated cost of BEVs, totaling three billion US dollars, can be covered through the relevant transition policy in the power sector. However, nuclear power in Korea is only a temporary solution that delays the social costs of achieving net-zero emissions. Thus, the Korean government should develop alternatives for clean electricity. Our results also suggest that the decarbonization cost transition from a sector to the power sector should be considered in the net-zero policy.

BPET: A Unified Blockchain-Based Framework for Peer-to-Peer Energy Trading

Recent years have witnessed a significant dispersion of renewable energy and the emergence of blockchain-enabled transactive energy systems. These systems facilitate direct energy trading among participants, cutting transmission losses, improving energy efficiency, and fostering renewable energy adoption. However, developing such a system is usually challenging and time-consuming due to the diversity of energy markets. The lack of a market-agnostic design hampers the widespread adoption of blockchain-based peer-to-peer energy trading globally. In this paper, we propose and develop a novel unified blockchain-based peer-to-peer energy trading framework, called BPET. This framework incorporates microservices and blockchain as the infrastructures and adopts a highly modular smart contract design so that developers can easily extend it by plugging in localized energy market rules and rapidly developing a customized blockchain-based peer-to-peer energy trading system. Additionally, we have developed the price formation mechanisms, e.g., the system marginal price calculation algorithm and the pool price calculation algorithm, to demonstrate the extensibility of the BPET framework. To validate the proposed solution, we have conducted a comprehensive case study using real trading data from the Alberta Electric System Operator. The experimental results confirm the system’s capability of processing energy trading transactions efficiently and effectively within the Alberta electricity wholesale market.

The Relationship between Renewable Energy Consumption and Human Development

This article examines the relationship between renewable energy consumption and human development indicators in Moldova. The analysis, spanning from 1995 to 2021, employs econometric techniques, including Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) regression, to investigate the impact of renewable energy on the Human Development Index (HDI). The findings reveal a positive correlation between renewable energy consumption and HDI, indicating that increased adoption of renewable energy is associated with improvements in human development. Specifically, the study finds that a one-percentage-point increase in renewable energy consumption leads to approximately a 1.6% increase in HDI. Moreover, the article discusses Moldova's energy policy landscape, highlighting initiatives and policies aimed at promoting renewable energy development and achieving sustainability goals. The conclusions drawn from this study emphasize the critical importance of prioritizing renewable energy solutions. Such prioritization is deemed essential for driving sustainable development, fostering economic growth, bolstering energy security, and mitigating the adverse impacts of climate change. The study underscores that Moldova's experience and policy initiatives could serve as a valuable model for other nations aiming to enhance their human development through sustainable energy practices. This research argues for a continued and intensified focus on the integration of renewable energy, highlighting its fundamental importance within national and international strategies aimed at achieving ambitious human development and sustainability goals. This involves a reassessment and expansion of current commitments, considering not only the ecological benefits, but also the long-term economic and social impact, thereby strengthening a sustainable future for future generations.

Carbon dioxide emissions, population, foreign direct investment, and renewable energy nexus: New insights from Thailand

This study investigates the multifaceted interplay between carbon dioxide emissions, population dynamics, foreign direct investment (FDI), and renewable energy (RE) within the unique context of Thailand. Amidst rapid economic growth and urbanization, Thailand faces pressing environmental challenges, making it an ideal case study for understanding the complex relationships between these variables. As a nation experiencing rapid economic growth and urbanization, Thailand provides a compelling case study for understanding the complex relationships between these variables. The paper uses the unrestricted random panel data method. Data is gathered from the World Bank from 2000 to 2022. The research addresses several critical issues using a mixed-methods approach and drawing data from national statistical agencies and environmental databases. The paper's primary objective is to explore how population dynamics, FDI, and RE adoption influence carbon emissions in Thailand. The rigorous analysis unveils key insights: a positive correlation between population growth and carbon emissions, nuanced relationships between FDI and emissions across sectors, and the significant impact of RE adoption on emissions reduction, particularly in high-emission sectors. This work contributes to the existing literature by offering novel findings and policy recommendations tailored to Thailand's environmental challenges. By addressing identified issues, such as sector-specific emissions patterns and the influence of FDI on emissions, the study provides actionable insights for policymakers striving to balance economic growth with environmental sustainability. Significantly, this manuscript advances the field by emphasizing the need for an integrated approach to environmental policymaking and highlighting the potential of RE as a critical driver of emissions reduction. The study's originality lies in its comprehensive analysis of the intricate nexus between carbon emissions and socio-economic factors within the Thai context. In conclusion, this research underscores the importance of informed environmental policymaking and offers practical implications for fostering sustainable development in Thailand and beyond. By leveraging the innovative insights and recommendations presented in this manuscript, policymakers can navigate the complexities of environmental stewardship while driving positive change towards a greener and more sustainable future.

Conceptualizing sustainable offshore operations: integration of renewable energy systems

This paper conceptualizes sustainable offshore operations through the integration of renewable energy systems, focusing on the adoption of solar-powered systems for remote applications. Drawing on Osayi's experience in this field, the paper proposes frameworks for the adoption of renewable energy in offshore operations, highlighting key considerations and strategies for successful implementation. The integration of renewable energy systems in offshore operations is essential for reducing environmental impact, increasing energy efficiency, and ensuring long-term sustainability. Osayi's experience with solar-powered systems for remote applications provides valuable insights into the challenges and opportunities associated with this integration. The proposed frameworks for the adoption of renewable energy in offshore operations encompass several key elements. Firstly, a thorough assessment of energy needs and resources is essential to determine the feasibility and potential benefits of integrating renewable energy systems. Secondly, careful planning and design are crucial to ensure that renewable energy systems are integrated seamlessly into existing offshore operations, taking into account factors such as location, energy demand, and system compatibility. Furthermore, the paper highlights the importance of stakeholder engagement and collaboration in the adoption of renewable energy systems. Effective communication and collaboration between industry stakeholders, regulators, and local communities are essential for overcoming barriers and ensuring the successful implementation of renewable energy projects in offshore operations. Overall, the paper provides valuable insights and frameworks for the adoption of renewable energy in offshore operations, drawing on Osayi's experience with solar-powered systems for remote applications. By integrating renewable energy systems into offshore operations, companies can reduce their carbon footprint, improve energy efficiency, and contribute to a more sustainable future for the offshore industry.

Predicting carbon dioxide emissions in the United States of America using machine learning algorithms.

Carbon dioxide (CO2) emissions result from human activities like burning fossil fuels. CO2 is a greenhouse gas, contributing to global warming and climate change. Efforts to reduce CO2 emissions include transitioning to renewable energy. Monitoring and reducing CO2 emissions are crucial for mitigating climate change. Strategies include energy efficiency and renewable energy adoption. In the past few decades, several nations have experienced air pollution and environmental difficulties because of carbon dioxide (CO2) emissions. One of the most crucial methods for regulating and maximizing CO2 emission reductions is precise forecasting. Four machine learning algorithms with high forecasting precision and low data requirements were developed in this study to estimate CO2 emissions in the United States (US). Data from a dataset covering the years 1973/01 to 2022/07 that included information on different energy sources that had an impact on CO2 emissions were examined. Then, four algorithms performed the CO2 emissions forecast from the layer recurrent neural network with 10 nodes (L-RNN), a feed-forward neural network with 10 nodes (FFNN), a convolutional neural network with two layers with 10 and 5 filters (CNN1), and convolutional neural network with two layers and with 50 and 25 filters (CNN2) models. Each algorithm's forecast accuracy was assessed using eight indicators. The three preprocessing techniques used are (1) without any processing techniques, (2) processed using max-min normalization technique, and (3) processed using max-min normalization technique and decomposed by variation mode decomposition (VMD) technique with 7 intrinsic mode functions and 1000 iterations. The latter with L-RNN algorithm gave a high accuracy between the forecasting and actual values. The results of CO2 emissions from 2011/05 to 2022/07 have been forecasted, and the L-RNN algorithm had the highest forecast accuracy. The L-RNN model has the lowest value of 1.187028078, 135.5668592, and 11.64331822 for MAPE, MSE, and RMSE, respectively. The L-RNN model provides precise and timely forecasts that can help formulate plans to reduce carbon emissions and contribute to a more sustainable future. Moreover, the results of this investigation can improve our comprehension of the dynamics of carbon dioxide emissions, resulting in better-informed environmental policies and initiatives targeted at lowering carbon emissions.

Promoting active citizen engagement in sustainable energy transitions: a co-creation approach

ABSTRACT The shift towards sustainable and decentralised energy production has encountered a notable gap between the need to establish energy communities and the existing technological and infrastructural basis provisions for their facilitation. A concerted effort is thus required to align capabilities with the requirements for fostering energy transitions. This paper introduces the ACeT method, a novel decision-making approach aimed at involving citizens in the context of sustainable energy transitions. The aim is to support the collaborative development of visions and roadmaps by citizens and regional/local authorities, who co-create strategies to mitigate broader societal impediments to the adoption of renewable energy. By addressing issues such as bureaucratic procedures, inequitable tariffs, and legal constraints, this approach offers valuable insights for stakeholders. Policymakers can further scrutinise and substantiate these insights and recommendations derived from this novel approach.

How do oil price uncertainty and economic policy uncertainty influence achievement of net-zero emissions targets by 2050? A quantile-based analysis

ABSTRACT Governments globally have prioritized carbon neutrality and reduction as a response to the intensifying menace of climate change. These objectives align with the United Nations Sustainable Development Goals (UNSDG-13), stressing the imperative to take decisive action on climate change. Thus, this study aimed to assess the impact of oil price uncertainty, economic policy uncertainty, financial development, and renewable energy on ecological proxies (CO2 emissions, Ecological footprint, and Load capacity factor) using quarterly data spanning from 1990 to 2019. As far as the investigators are aware, this is the first empirical analysis examining the impact of oil price uncertainty on ecological quality. To achieve this, we employed advanced techniques, including quantile-on-quantile KRLS (QQKRLS) and quantile-on-quantile Granger causality (QQGC), to analyse the interconnections among these variables. The findings based on the load capacity factor exposed that renewable energy, economic policy uncertainty, financial development, and economic growth positively contribute to ecological quality, whereas oil price uncertainty has a detrimental effect. Additionally, as a measure of robustness, CO2 emissions and ecological footprint were included in the analysis, demonstrating comparable outcomes when assessed alongside the load capacity factor model. Furthermore, QQGC results demonstrated that all regressors significantly forecast ecological quality. Drawing from the findings, policy interventions ought to prioritize incentivizing the adoption of renewable energy, mitigating economic policy uncertainty, fostering financial development, and stimulating economic growth as pivotal strategies for augmenting ecological quality. Furthermore, integrating measures to alleviate oil price uncertainty stands as a crucial imperative for ensuring environmental sustainability.

Assessing the carbon mitigation impact of energy choices in China: a focus on renewable energy and thermal efficiency improvement

ABSTRACT This study estimates the carbon mitigation effects of various energy choices, focusing on renewable energy (RE) adoption and thermal efficiency improvement. We compiled a comprehensive panel data covering 2,641 counties from 2003 to 2017 and employed a dynamic panel model for the analysis. Our results suggest that the adoption of wind power and thermal efficiency improvement, with the latter indicated by the adoption of large thermal power plants, significantly reduces carbon emissions. Notably, increasing wind power capacity exhibits a more substantial marginal reduction effect than increasing large thermal capacity. Moreover, the mitigation impact of RE is more substantial in regions with diverse renewable power types and higher renewable capacity. These results provide robust evidence regarding thermal efficiency improvement’s role in carbon mitigation and underscore the growing environmental benefits of RE as its share in installed capacity increases. Our findings emphasize the necessity of policies that incentivize the utilization of various RE types and target regional environmental efficiency gaps, which are crucial for achieving enhanced carbon mitigation during the energy transition.

Climate mitigation technology for holistic resource management in sub-Saharan Africa: Impact on greenhouse gas emissions

This study investigates the impact of climate change mitigation technologies, specifically agricultural land management and renewable energy consumption and production, on greenhouse gas emissions (GHG) in sub-Saharan Africa (SSA) over the period of 1991 to 2015. Our analysis was conducted using an ARDL panel data model with data from 26 countries representing four sub-regions. The results demonstrated that an increase in renewable energy consumption is significantly associated with a decrease in GHG emissions, with a long-term coefficient of -0.422 and a short-term coefficient of -0.757. Additionally, natural resource rents, agricultural land use and population density have a positive impact on greenhouse gas emissions, with coefficients of 0.0605, 0.392 and 0.690, respectively. However, renewable energy production does not have a significant effect on greenhouse gas emissions. This suggests that promoting renewable energy consumption can be an effective way to combat greenhouse gas emissions in the region, and policymakers should implement policies and programs that encourage and facilitate the adoption of renewable energy whilst taking into consideration the impact of agricultural land use. Overall, this study emphasizes the importance of promoting renewable energy consumption and managing agricultural land use as a viable approach to combating greenhouse gas emissions in sub-Saharan Africa, and highlights the potential of climate mitigation technology as a tool for regulators to optimize policy development and counter climate change.

PROMOTING QUALITY OF LIFE AND SUSTAINABILITY.

The promotion of quality of life and sustainability is an interdisciplinary theme of great contemporary relevance. It focuses on finding approaches that balance human well- being with preserving natural resources and the health of the planet. This theme covers a variety of areas, from public health and urban development to environmental conservation and economic policy. The objective of this study is to investigate strategies and practices that seek to improve people's quality of life in a sustainable way. This study is a bibliographic review, in which a multidisciplinary approach was adopted that integrated qualitative and quantitative analyses. Data collection covered the investigation of specialized literature, relevant case studies and an in-depth analysis of socio-environmental indicators. The results demonstrated that the promotion of quality of life and sustainability requires an integrated approach. Successful initiatives include the implementation of efficient public transport policies, the creation of urban green spaces, the adoption of renewable energies and education for environmental awareness. Public awareness and cross-sectoral collaboration also emerged as critical factors in achieving positive outcomes. Promoting quality of life and sustainability is not just a necessity, but an imperative to ensure a livable future for future generations. The integrated approach, combined with the participation of society and government engagement, can result in an effective balance between human well-being and preservation of the environment. By prioritizing sustainability in all spheres of life, we can aspire to a future where prosperity and care for the planet go hand in hand.

A Targeted Review on Revisiting and Augmenting the Framework for Technology Acceptance in the Renewable Energy Context

Given that the implementation of renewable technologies has some key bottlenecks in adoption, this topic has been explored. Particularly, we are reviewing existing theories and models to understand their fit for changing social structures and evolving world contexts. This review begins with an introduction followed by a background study on renewable energy technology (RET). We have employed a mixed-approach methodology to synthesize the relevant literature. The review comprises a summary and comparison of some existing theories and models such as TAM, TRA, and UTAUT, elucidating factors influencing technology adoption processes. Additionally, the review discusses the scope for future research, emphasizing the need for more nuanced frameworks that account for contextual intricacies and emerging trends in renewable energy adoption. Ultimately, the review concludes with insights into the ongoing discourse surrounding energy technology acceptance and recommendations on the inclusion of current world views in the scope for future study.

Exploring how economic growth, renewable energy, internet usage, and mineral rents influence CO2 emissions: A panel quantile regression analysis for 27 OECD countries

This study aims to investigate the impacts of renewable energy consumption, internet usage, mineral rent, and economic growth on CO2 emissions across 27 OECD nations between 2001 and 2020. We employ a panel quantile regression technique to discover the heterogeneous effects of these variables for the various quantile levels of environmental destruction. The panel quantile regression approach found the Environmental Kuznets curve dominated countries in which CO2 emissions were low. Additionally, the negative relationship between renewable energy consumption and CO2 emissions yielded in the paper suggests the potential benefits of incentivizing and investing in renewable sources. Internet usage demonstrates a negative impact on CO2 emissions, showcasing the role of digital technologies in promoting sustainability. Accordingly, internet use improves environmental quality due to more efficient, sustainable, and eco-friendly practices, which increase productivity. However, a positive association between mineral rents and environmental deterioration emphasizes the necessity of strategic policies to balance economic benefits with environmental preservation. Our study provides policymakers with valuable insights into tailoring effective strategies for sustainable development, renewable energy adoption, digitalization, and natural resource utilization while addressing environmental degradation.

Social enterprise, renewable energy, and cap-and-trade under sustainable insurance

Social entrepreneurship encompasses entrepreneurial activities designed to tackle societal and environmental challenges. This paper introduces a capped call option model for sustainable insurance within the context of financing social enterprise green operations, emphasizing the adoption of renewable energy and the implementation of cap-and-trade mechanisms. Our focus is on an objective defined as a combined stakeholder equity function, reflecting sustainable insurance resulting from the social enterprise's green operations and stakeholder engagement to fulfill the goals of social entrepreneurship. The research reveals that increasing subsidies for the social enterprise embracing renewable energy enhances stakeholder equity and social enterprise equity while negatively impacting insurer equity. Additionally, as the social enterprise integrates advanced green technologies into production, the positive effect on stakeholder equity becomes more pronounced. Stringent regulatory caps, however, adversely affect both stakeholder equity and social enterprise equity. Moreover, the study highlights green loan subsidies as a mutually beneficial strategy, fostering positive outcomes for both the borrowing social enterprise and the fund-providing insurer. It emphasizes the need for policies prioritizing green subsidies to promote the adoption of renewable energy for enhanced equity under sustainable insurance.

A dynamic mathematical model used for controller design of a supercritical once-through boiler-turbine unit in all load conditions

Recently, widespread adoption of renewable energy significantly impacts the security and stability of power grid. Utilizing coal-fired units in real-time load figuration remains a primary method to ensure grid stability. Therefore, supercritical Once-Through Boiler-Turbine (OTBT) units continuously enhance flexibility to meet the evolving needs of the grid. To broaden the load boundary and achieve fully automated control from unit start-up to rated load, establishing a dynamic mathematical model used for controller design of OTBT units in all load conditions is a necessary prerequisite. This model should accurately predict model outputs in both once-through mode (OTM) and recirculation mode (RCM) while also reflecting the dynamic transition processes between modes. In this study, we first conducted a detailed analysis of the characteristics of recirculation system. Mass and energy conservation equations are established separately for economizer-waterwall system and superheater system, including a level model for storage tank in RCM. Subsequently, through reasonable assumptions and analysis of the transition process, the modified steam dryness is identified as a crucial indicator to distinguish between RCM and OTM. This approach unified the model structures in RCM and OTM, avoiding issues related to model switching during mode transitions. Following this, model parameters were identified based on an improved dynamic search fireworks algorithm. Finally, multiple sets of comparative simulation experiments demonstrated that the established model exhibits high accuracy throughout the unit operation. Results from open-loop simulations indicated that this model can serve as a foundation for controller design of coordinated control system in all load conditions.

The Utilization of Metal-Organic Frameworks and Their Derivatives Composite in Supercapacitor Electrodes.

Up to now, the mainstream adoption of renewable energy has brought about substantial transformations in the electricity and energy sector. This shift has garnered considerable attention within the scientific community. Supercapacitors, known for their exceptional performance metrics like good charge/discharge capability, strong power density, as well as extended cycle longevity, have gained widespread traction across various sectors, including transportation and aviation. Metal-organic frameworks (MOFs) with unique traits including adaptable structure, highly customizable synthetic methods, and high specific surface area, have emerged as strong candidates for electrode materials. For enhancing the performance, MOFs are commonly compounded with other conducting materials to increase capacitance. This paper provides a detailed analysis of various common preparation strategies and characteristics of MOFs. It summarizes the recent application of MOFs and their derivatives as supercapacitor electrodes alongside other carbon materials, metal compounds, and conductive polymers. Additionally, the challenges encountered by MOFs in the realm of supercapacitor applications are thoroughly discussed. Compared to previous reviews, the content of this paper is more comprehensive, offering readers a deeper understanding of the diverse applications of MOFs. Furthermore, it provides valuable suggestions and guidance for future progress and development in the field of MOFs.

The challenges of sustainable energy transition: A focus on renewable energy

Energy is both a fundamental necessity and a driving force behind human activities. Throughout history, energy consumption has steadily risen, evolving from basic needs like food and fire for early humans to complex industrial and technological requirements today. Transitioning to a sustainable energy system requires a policy framework that empowers developing nations to promote green industries, diversify their sectors, and accelerate growth while addressing climate change and related challenges. In response to the urgent need for a global transition towards sustainable energy sources, this research explores the pivotal roles of technology, research, and policy in advancing renewable energy solutions. Motivated by the growing environmental challenges associated with conventional energy sources, the primary goal of this study is to shed light on the multifaceted strategies that facilitate the widespread adoption of renewable energy and contribute to mitigating climate change. Through an extensive analysis of renewable energy technologies, research contributions, and policy frameworks, this research uncovers critical insights. Our findings reveal how technological innovations have revolutionized renewable energy sources, making them more efficient, affordable, and scalable. Furthermore, research efforts have identified new opportunities and addressed technical challenges, while also assessing the environmental and societal impacts of renewable energy adoption. Crucially, this study underscores the indispensable role of policy in driving renewable energy transitions. Governments worldwide play a pivotal role in incentivizing renewable energy development through financial incentives, regulatory mandates, and research and development support. Moreover, these policies aim to promote energy efficiency, conservation, and equitable access to sustainable solutions. The results of this research emphasize that the transition to renewable energy is not only a viable solution to climate change but also an opportunity to create green jobs, enhance energy security, and reduce greenhouse gas emissions. The potential for a sustainable future powered by renewable energy is within reach, and this study serves as a guidepost for realizing this transformative vision.

Advancing the Adoption of Net Metering: An Economic Assessment of Grid-Tied Solar Photovoltaic Systems in Urban Homes in Ghana

Net metering schemes are pivotal in advancing grid-tied solar PV systems and promoting renewable energy adoption in developing nations. This study investigates the economic viability of implementing net metering within urban households in Ghana, considering the existing block tariff structure and a proposed time-of-use (ToU) structure for grid-tied PV systems. The study employed PVSOL premium (2023 R3) software for the economic performance assessment of the net metering schemes for simulated grid-tied residential PV systems in selected cities of Ghana’s Coastal, Forest, and Savannah climatic zones. The evaluation encompasses key economic metrics, including the levelized cost of electricity, accrued cash flow, annual cash savings, internal rate of return, and payback period. The study findings showed that, in most scenarios, the existing block tariff structure initially proved more economically favourable than the proposed two-tier Time-of-Use (ToU) structure. Consequently, financial investments were recouped within the project’s lifespan under net metering schemes based on the existing block tariff structure, whereas investments were not recouped under the ToU-based schemes. Nevertheless, factors such as improved daytime consumption, rising electricity tariffs, and aligning peak demand pricing hours with solar power generation hours emerged as potential drivers that could make ToU-based net metering schemes more attractive than block tariff structures. The study findings have significant implications for policy development related to tariff structures, particularly concerning the implementation of net metering for grid-tied solar PV systems within the residential sector of Ghana and other developing countries in sub-Saharan Africa.

Navigating sustainable horizons: exploring the dynamics of financial stability, green growth, renewable energy, technological innovation, financial inclusion, and soft infrastructure in shaping sustainable development.

This paper examines sustainable development, which employs an integrated approach to tackle environmental, social, and economic challenges. It provides a theoretical underpinning by examining sustainable development's inception, fundamental tenets, and conceptual structures. This study highlights the interdependence of social equity, economic prosperity, and environmental conservation, emphasizing the need for a comprehensive approach. Quantitative methodology is utilized in this study, and the dependent variable is sustainable development. Financial risk, green growth, technological innovation, renewable energy, financial inclusion, and soft infrastructure are all independent variables. The analysis is predicated on secondary data from the Organization for Economic Cooperation and Development and World Development Indicators databases spanning 2004 to 2019. An entropy-weighted method used for the green growth index is a metric that enhances the precision of variable indicators. Cointegration, correlation, VIF, cross-sectional dependency, and stationarity tests are among the diagnostic tests that inform the selection of methods for the panel data set. It is determined that fully modified ordinary least squares is the suitable technique. The findings suggest statistically significant positive correlations among greenhouse gases, financial inclusion, and soft infrastructure. Conversely, significant negative correlations exist between financial risk, green growth, renewable energy, and technological innovation. An estimated 55% long-run variance is present. The study's key finding is that financial risk has an adverse effect on sustainable development, while an impactful relationship where increased green growth is linked to decreased GHG emissions. This association is notably significant. Results show that renewable energy has a negative coefficient and significant negative impact on greenhouse gases, showing an active relation to enhancing sustainable development. In contrast, financial inclusion has a significant positive effect on sustainable development. The implications imply that providing incentives to institutions engaged in alternative energy, precisely renewable sources, could positively impact the environment. Government policies and funding regulations oriented toward sustainable development are indispensable for environmental sustainability. Government policies and incentives are pivotal in advancing an environmentally conscious and sustainable future. This study's contribution lies in elucidating the positive correlation between government interventions and promoting renewable energy adoption, thereby paving the way for a greener tomorrow.