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Renewable energy proliferation for sustainable development: Role of cross-border electricity trade

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  • Jha, Amit Prakash
  • Mahajan, Aarushi
  • Singh, Sanjay Kumar
  • Kumar, Piyush

Abstract

Electricity production is intrinsically linked to economic development. Energy is a necessity but fossil fuel-based energy sources, which are still globally predominant, are detrimental to the environment. Renewable energy offers a better alternative, but there are multiple barriers to its proliferation. Intermittency and reliability issues are a couple of major barriers to the growth of renewable energy. One strategy promoting renewable energy growth is to enhance cross-border electricity trade (CBET). In addition to addressing intermittency and reliability issues, CBET offers a larger market for the renewable energy. The paper tests these hypotheses and finds considerable empirical support for the same. A clear causal linkage has been found from CBET to renewable energy generation. We have applied nonparametric regression to establish the association between CBET and renewable energy generation. The method is less restrictive in the sense that no a priori functional form is assumed for the sought relationship. Having established the affirmative role of CBET in boosting renewable energy generation, we advocate for concerted policy intervention by trading partners to overcome the barriers promoting CBET. This should help in achieving sustainable development goal of affordable and sustainable energy for all.

Suggested Citation

  • Jha, Amit Prakash & Mahajan, Aarushi & Singh, Sanjay Kumar & Kumar, Piyush, 2022. "Renewable energy proliferation for sustainable development: Role of cross-border electricity trade," Renewable Energy, Elsevier, vol. 201(P1), pages 1189-1199.
    • Handle: RePEc:eee:renene:v:201:y:2022:i:p1:p:1189-1199
    DOI: 10.1016/j.renene.2022.11.046
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    References listed on IDEAS

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    1. Casimir Lorenz, 2017. "Balancing Reserves within a Decarbonized European Electricity System in 2050: From Market Developments to Model Insights," Discussion Papers of DIW Berlin 1656, DIW Berlin, German Institute for Economic Research.
    2. Haque, H.M. Enamul & Dhakal, Shobhakar & Mostafa, S.M.G., 2020. "An assessment of opportunities and challenges for cross-border electricity trade for Bangladesh using SWOT-AHP approach," Energy Policy, Elsevier, vol. 137(C).
    3. Tirthankar Nag, 2021. "Barriers to Cross-border Energy Cooperation and Implications on Energy Security: An Indian Perspective with Reference to Energy Trade in South Asia," Global Business Review, International Management Institute, vol. 22(6), pages 1530-1552, December.
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    Cited by:

    1. Kappil, Shine Raju & Aneja, Ranjan & Verma, Amandeep, 2024. "Developing a global sustainable electricity use index using the pressure-state-response framework," Utilities Policy, Elsevier, vol. 91(C).
    2. Andrzej Pacana & Karolina Czerwińska & Grzegorz Ostasz, 2023. "Analysis of the Level of Efficiency of Control Methods in the Context of Energy Intensity," Energies, MDPI, vol. 16(8), pages 1-26, April.
    3. Xie, Haonan & Ahmad, Tanveer & Zhang, Dongdong & Goh, Hui Hwang & Wu, Thomas, 2024. "Community-based virtual power plants’ technology and circular economy models in the energy sector: A Techno-economy study," Renewable and Sustainable Energy Reviews, Elsevier, vol. 192(C).
    4. Venizelos Venizelou & Andreas Poullikkas, 2024. "Trend Analysis of Cross-Border Electricity Trading in Pan-European Network," Energies, MDPI, vol. 17(21), pages 1-44, October.
    5. Yu Sun & Zhiqiang Ma & Xiaomeng Chi & Jiaqi Duan & Mingxing Li & Asad Ullah Khan, 2024. "Decoding the Developmental Trajectory of Energy Trading in Power Markets through Bibliometric and Visual Analytics," Energies, MDPI, vol. 17(15), pages 1-23, July.
    6. Sikorska-Pastuszka, Magdalena & Papież, Monika, 2023. "Dynamic volatility connectedness in the European electricity market," Energy Economics, Elsevier, vol. 127(PA).
    7. Sunderasan Srinivasan & Prathyusha Asundi, 2024. "Exploiting time zone differences to harmonize electricity supplies: case study of the Central Asian Region," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 29(7), pages 1-13, October.

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    More about this item

    Keywords

    Sustainable development; Renewable energy; Cross-border electricity trade; Nonparametric regression;
    All these keywords.

    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • F1 - International Economics - - Trade
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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