IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v312y2024ics036054422403216x.html
   My bibliography  Save this article

Energy transition to green energy sources – Role of socioeconomic disparities and administrative policies

Author

Listed:
  • Cao, Shanshan
  • Huang, Lin
  • Zhang, Qingping
  • hán, Zǐ

Abstract

This study establishes the policy structure needed for achieving an energy transition in accordance with the goals of the COP26 Summit, taking into consideration disparities in socioeconomic status and the efficacy of regulations. We suggest a newly created energy transition index. It is a hypothesis-based output measure that employs the energy steps. By including (a) the shift to a green energy source and (b) the shift to more effective sources, the index makes it possible to understand the energy transition possibility in all countries. We examine the dynamic and absolute marginal consequences of energy transition factors on parameter estimations by applying the two-step System GMM method and data from 37 OECD countries between 2001 and 2022. The findings demonstrate that energy transition factors have less of an effect due to economic and social inequalities, but effective governance can increase those effects. Consistent with a scenario-based policy-development methodology, the results contribute significantly to the advancement of prospective policy discussions. Focusing on the completion of SDGs 7 and 13 they have significant real-world consequences for the creation of the SDG-oriented policy structure.

Suggested Citation

  • Cao, Shanshan & Huang, Lin & Zhang, Qingping & hán, Zǐ, 2024. "Energy transition to green energy sources – Role of socioeconomic disparities and administrative policies," Energy, Elsevier, vol. 312(C).
    • Handle: RePEc:eee:energy:v:312:y:2024:i:c:s036054422403216x
    DOI: 10.1016/j.energy.2024.133440
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S036054422403216X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2024.133440?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Lauren E. Natividad & Pablo Benalcazar, 2023. "Hybrid Renewable Energy Systems for Sustainable Rural Development: Perspectives and Challenges in Energy Systems Modeling," Energies, MDPI, vol. 16(3), pages 1-15, January.
    2. Jie-fang Dong & Qiang Wang & Chun Deng & Xing-min Wang & Xiao-lei Zhang, 2016. "How to Move China toward a Green-Energy Economy: From a Sector Perspective," Sustainability, MDPI, vol. 8(4), pages 1-18, April.
    3. Behnam Zakeri & Katsia Paulavets & Leonardo Barreto-Gomez & Luis Gomez Echeverri & Shonali Pachauri & Benigna Boza-Kiss & Caroline Zimm & Joeri Rogelj & Felix Creutzig & Diana Ürge-Vorsatz & David G. , 2022. "Pandemic, War, and Global Energy Transitions," Energies, MDPI, vol. 15(17), pages 1-23, August.
    4. Xiuzhen, Xie & Zheng, Wenxiu & Umair, Muhammad, 2022. "Testing the fluctuations of oil resource price volatility: A hurdle for economic recovery," Resources Policy, Elsevier, vol. 79(C).
    5. Xiang Cui & Muhammad Umair & Ganijon Ibragimove Gayratovich & Azer Dilanchiev, 2023. "Do Remittances Mitigate Poverty? An Empirical Evidence From 15 Selected Asian Economies," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 68(04), pages 1447-1468, June.
    6. Kocak, Emrah & Ulug, Eyup Emre & Oralhan, Burcu, 2023. "The impact of electricity from renewable and non-renewable sources on energy poverty and greenhouse gas emissions (GHGs): Empirical evidence and policy implications," Energy, Elsevier, vol. 272(C).
    7. Karsten Neuhoff & Stefan Bach & Jochen Diekmann & Martin Beznoska & Tarik El-Laboudy, 2013. "Distributional Effects of Energy Transition: Impacts of Renewable Electricity Support in Germany," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 1).
    8. Salari, Mahmoud & Kelly, Inas & Doytch, Nadia & Javid, Roxana J., 2021. "Economic growth and renewable and non-renewable energy consumption: Evidence from the U.S. states," Renewable Energy, Elsevier, vol. 178(C), pages 50-65.
    9. Ullah, Mirzat & Umair, Muhammad & Sohag, Kazi & Mariev, Oleg & Khan, Muhammad Asif & Sohail, Hafiz M., 2024. "The connection between disaggregate energy use and export sophistication: New insights from OECD with robust panel estimations," Energy, Elsevier, vol. 306(C).
    10. Li, Jiaman & Dong, Kangyin & Taghizadeh-Hesary, Farhad & Wang, Kun, 2022. "3G in China: How green economic growth and green finance promote green energy?," Renewable Energy, Elsevier, vol. 200(C), pages 1327-1337.
    11. Li, ChangZheng & Umair, Muhammad, 2023. "Does green finance development goals affects renewable energy in China," Renewable Energy, Elsevier, vol. 203(C), pages 898-905.
    12. Apergis, Nicholas & Polemis, Michael & Soursou, Simeoni-Eleni, 2022. "Energy poverty and education: Fresh evidence from a panel of developing countries," Energy Economics, Elsevier, vol. 106(C).
    13. Yu, Miaozhi & Wang, Yifan & Umair, Muhammad, 2024. "Minor mining, major influence: Economic implications and policy challenges of artisanal gold mining," Resources Policy, Elsevier, vol. 91(C).
    14. Yiming, Wang & Xun, Liu & Umair, Muhammad & Aizhan, Assilova, 2024. "COVID-19 and the transformation of emerging economies: Financialization, green bonds, and stock market volatility," Resources Policy, Elsevier, vol. 92(C).
    15. Hepei Li & Chen Chen & Muhammad Umair, 2023. "Green Finance, Enterprise Energy Efficiency, and Green Total Factor Productivity: Evidence from China," Sustainability, MDPI, vol. 15(14), pages 1-14, July.
    16. Polzin, Friedemann & Sanders, Mark, 2020. "How to finance the transition to low-carbon energy in Europe?," Energy Policy, Elsevier, vol. 147(C).
    17. Creutzig, Felix & Goldschmidt, Jan Christoph & Lehmann, Paul & Schmid, Eva & von Blücher, Felix & Breyer, Christian & Fernandez, Blanca & Jakob, Michael & Knopf, Brigitte & Lohrey, Steffen & Susca, Ti, 2014. "Catching two European birds with one renewable stone: Mitigating climate change and Eurozone crisis by an energy transition," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 1015-1028.
    18. Yu, Mengyan & Umair, Muhammad & Oskenbayev, Yessengali & Karabayeva, Zhаnsaya, 2023. "Exploring the nexus between monetary uncertainty and volatility in global crude oil: A contemporary approach of regime-switching," Resources Policy, Elsevier, vol. 85(PB).
    19. Gnansounou, Edgard, 2008. "Assessing the energy vulnerability: Case of industrialised countries," Energy Policy, Elsevier, vol. 36(10), pages 3734-3744, October.
    20. Engelhorn, Thorsten & Müsgens, Felix, 2021. "Why is Germany’s energy transition so expensive? Quantifying the costs of wind-energy decentralisation," Resource and Energy Economics, Elsevier, vol. 65(C).
    21. Jochen Markard, 2018. "The next phase of the energy transition and its implications for research and policy," Nature Energy, Nature, vol. 3(8), pages 628-633, August.
    22. Chiu, Yi-Bin & Lee, Chien-Chiang, 2020. "Effects of financial development on energy consumption: The role of country risks," Energy Economics, Elsevier, vol. 90(C).
    23. Muhammad Ramzan & Ummara Razi & Muhammad Umer Quddoos & Tomiwa Sunday Adebayo, 2023. "Do green innovation and financial globalization contribute to the ecological sustainability and energy transition in the United Kingdom? Policy insights from a bootstrap rolling window approach," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(1), pages 393-414, February.
    24. Vakulchuk, Roman & Overland, Indra & Scholten, Daniel, 2020. "Renewable energy and geopolitics: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 122(C).
    25. Liu, Fang & Umair, Muhammad & Gao, Junjun, 2023. "Assessing oil price volatility co-movement with stock market volatility through quantile regression approach," Resources Policy, Elsevier, vol. 81(C).
    26. Jiang, Lan & Jiang, Hua, 2023. "Analysis of predictions considering mineral prices, residential energy, and environmental risk: Evidence from the USA in COP 26 perspective," Resources Policy, Elsevier, vol. 82(C).
    27. Magnani, Natalia & Carrosio, Giovanni & Osti, Giorgio, 2020. "Energy retrofitting of urban buildings: A socio-spatial analysis of three mid-sized Italian cities," Energy Policy, Elsevier, vol. 139(C).
    28. Hu, Kexiang & Sinha, Avik & Tan, Zhixiong & Shah, Muhammad Ibrahim & Abbas, Shujaat, 2022. "Achieving energy transition in OECD economies: Discovering the moderating roles of environmental governance," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    29. Qiu, Huanguang & Yan, Jianbiao & Lei, Zhen & Sun, Dingqiang, 2018. "Rising wages and energy consumption transition in rural China," Energy Policy, Elsevier, vol. 119(C), pages 545-553.
    30. Sun, Yunpeng & Bao, Qun & Siao-Yun, Wei & Islam, Misbah ul & Razzaq, Asif, 2022. "Renewable energy transition and environmental sustainability through economic complexity in BRICS countries: Fresh insights from novel Method of Moments Quantile regression," Renewable Energy, Elsevier, vol. 184(C), pages 1165-1176.
    31. Wu, Qihan & Yan, Dong & Umair, Muhammad, 2023. "Assessing the role of competitive intelligence and practices of dynamic capabilities in business accommodation of SMEs," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 1103-1114.
    32. Wang, Qiang & Hu, Sailan & Li, Rongrong, 2024. "Could information and communication technology (ICT) reduce carbon emissions? The role of trade openness and financial development," Telecommunications Policy, Elsevier, vol. 48(3).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yuan, Junli & lv, Zhaohe & Aliyeva, Tahmina & Chen, Xu, 2024. "Optimization of production, distribution, natural resources and capacity planning throughout process sector worldwide supply chains with various goals," Resources Policy, Elsevier, vol. 97(C).
    2. Li, Qingwei & He, Huiming & Oskenbayev, Yessengali & Ullah, Ihsan, 2024. "Exploring the nexus of geopolitical risk, green financing, and natural resource rents: A study of Russia's economic growth," Resources Policy, Elsevier, vol. 96(C).
    3. Zhang, Yuan & Zhang, Huaqiao & Ullah, Mirzat & Nazir, Sidra & Chun, Zhong, 2024. "Intellectual property protection in the oil, gold sectors and mineral resources rent on indigenous populations: Preserving innovation and value," Resources Policy, Elsevier, vol. 95(C).
    4. Cheng, WeiJin & Ming, Kai & Ullah, Mirzat, 2024. "Oil price volatility prediction using out-of-sample analysis – Prediction efficiency of individual models, combination methods, and machine learning based shrinkage methods," Energy, Elsevier, vol. 300(C).
    5. Huang, Weiping & Das, Ghansham & Dilanchiev, Azer & Giyasova, Zeynab & Gu, Mangi, 2024. "Role of multiple energy sources under carbon neturality goals, income and energy consumption in transition economies: A joint case study between China and Uzbekistan," Energy, Elsevier, vol. 309(C).
    6. Mao, Yanfei & E, Shiju & Zhu, Chungeng, 2024. "Modern developments and analysis of household electricity utilization by applying smart meter and its findings," Energy, Elsevier, vol. 310(C).
    7. Chen, Guoli & Qian, Zhe & Bolatbek, Botagoz & Na, Liu, 2024. "A comparative study of the nexus of natural resource investment in national economies: Effects on cultural communication and economic growth," Resources Policy, Elsevier, vol. 94(C).
    8. Liu, Shan & Zhong, Chun, 2024. "Green growth: Intellectual property conflicts and prospects in the extraction of natural resources for sustainable development," Resources Policy, Elsevier, vol. 89(C).
    9. Liang, Tian & Liu, Shuangjian & Xi, Peng, 2024. "Long-term economic growth: Leveraging natural resources for sustainable economic growth and energy transition," Resources Policy, Elsevier, vol. 92(C).
    10. Sun, Suchao & Xing, Tiancai & Fan, Dong, 2024. "Supporting investment on long-term funding to maximize the effect of efficient use of natural resources," Resources Policy, Elsevier, vol. 90(C).
    11. Meng, Fanting, 2024. "Driving sustainable development: Fiscal policy and the promotion of natural resource efficiency," Resources Policy, Elsevier, vol. 90(C).
    12. Bin, Hu & Tuoyu, Li, 2024. "Greening the recovery: Natural resource sustainability and carbon assessment for financial development," Resources Policy, Elsevier, vol. 89(C).
    13. Kong, Jiangwei & Gao, Mengxi, 2024. "Sustainable strategies for boosting profitability: Unveiling the connection between fiscal policy and natural resource efficiency," Resources Policy, Elsevier, vol. 88(C).
    14. Feng, Amei & Liu, Liqian, 2023. "Local green economic growth and natural resources development in China," Resources Policy, Elsevier, vol. 86(PB).
    15. Li, Yang & Du, Qingfeng, 2024. "Oil price volatility and gold prices volatility asymmetric links with natural resources via financial market fluctuations: Implications for green recovery," Resources Policy, Elsevier, vol. 88(C).
    16. Linyi Tang & Bo Zhang, 2024. "RETRACTED ARTICLE: Linking prosperity and sustainability: the economic impact of energy transition and financial stability," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-21, June.
    17. Zhang, Lei & Zhou, Junhu, 2024. "The impact of imperfect financial markets and stock holdings on corporate innovation: Evidence from China," Finance Research Letters, Elsevier, vol. 61(C).
    18. Han, Shengmiao, 2024. "Integrating mineral and natural resources for enhanced environmental resilience and sustainability," Resources Policy, Elsevier, vol. 91(C).
    19. Wang, Xiufeng & Xu, Xiaofang, 2024. "Sustainable resource management and green economic growth: A global prospective," Resources Policy, Elsevier, vol. 89(C).
    20. Dai, Xulong & Batool, Kiran, 2024. "Optimizing multi-objective design, planning, and operation for sustainable energy sharing districts considering electrochemical battery longevity," Renewable Energy, Elsevier, vol. 229(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:312:y:2024:i:c:s036054422403216x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.