Incentives and strategies for financing the renewable energy transition: A review

Sikandar Abdul Qadir; Hessah Al-Motairi; Furqan Tahir; Luluwah Al-Fagih

doi:10.1016/j.egyr.2021.06.041

Incentives and strategies for financing the renewable energy transition: A review

Sikandar Abdul Qadir
, Hessah Al-Motairi
, Furqan Tahir
, Luluwah Al-Fagih^*

^*Corresponding author for this work

Research output: Contribution to journal › Review article › peer-review

403 Scopus citations

Abstract

With the global population set to continue growing, the demand for energy will increase. Fossil fuel resources are in decline, and their use is associated with environmental destruction. This highlights the need for more investment in energy resources that can meet the global demand without harming the environment. Clean forms of energy, such as solar, wind, and hydropower, are both successful and readily available, yet investment in them has fluctuated. The affordability, ease of availability and technological maturity of oil in some regions has contributed to the slow uptake of investment in renewable energy projects. This paper discusses the main barriers hindering investment in clean energy production, highlights crucial incentives that could speed up investment processes, and examines several necessary strategies for the transition from fossil-fuel-based energy to renewable sources.

Original language	English
Pages (from-to)	3590-3606
Number of pages	17
Journal	Energy Reports
Volume	7
DOIs	https://doi.org/10.1016/j.egyr.2021.06.041
State	Published - Nov 2021
Externally published	Yes

Bibliographical note

Publisher Copyright:
© 2021 The Authors

Keywords

Barriers
Energy transition
Financing
Fossil fuels
Incentives
Renewable energy
Strategies

ASJC Scopus subject areas

General Energy

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1016/j.egyr.2021.06.041

Cite this

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title = "Incentives and strategies for financing the renewable energy transition: A review",

abstract = "With the global population set to continue growing, the demand for energy will increase. Fossil fuel resources are in decline, and their use is associated with environmental destruction. This highlights the need for more investment in energy resources that can meet the global demand without harming the environment. Clean forms of energy, such as solar, wind, and hydropower, are both successful and readily available, yet investment in them has fluctuated. The affordability, ease of availability and technological maturity of oil in some regions has contributed to the slow uptake of investment in renewable energy projects. This paper discusses the main barriers hindering investment in clean energy production, highlights crucial incentives that could speed up investment processes, and examines several necessary strategies for the transition from fossil-fuel-based energy to renewable sources.",

keywords = "Barriers, Energy transition, Financing, Fossil fuels, Incentives, Renewable energy, Strategies",

author = "Qadir, \{Sikandar Abdul\} and Hessah Al-Motairi and Furqan Tahir and Luluwah Al-Fagih",

note = "Publisher Copyright: {\textcopyright} 2021 The Authors",

year = "2021",

month = nov,

doi = "10.1016/j.egyr.2021.06.041",

language = "English",

volume = "7",

pages = "3590--3606",

journal = "Energy Reports",

issn = "2352-4847",

publisher = "Elsevier Ltd.",

}

TY - JOUR

T1 - Incentives and strategies for financing the renewable energy transition

T2 - A review

AU - Qadir, Sikandar Abdul

AU - Al-Motairi, Hessah

AU - Tahir, Furqan

AU - Al-Fagih, Luluwah

PY - 2021/11

Y1 - 2021/11

N2 - With the global population set to continue growing, the demand for energy will increase. Fossil fuel resources are in decline, and their use is associated with environmental destruction. This highlights the need for more investment in energy resources that can meet the global demand without harming the environment. Clean forms of energy, such as solar, wind, and hydropower, are both successful and readily available, yet investment in them has fluctuated. The affordability, ease of availability and technological maturity of oil in some regions has contributed to the slow uptake of investment in renewable energy projects. This paper discusses the main barriers hindering investment in clean energy production, highlights crucial incentives that could speed up investment processes, and examines several necessary strategies for the transition from fossil-fuel-based energy to renewable sources.

AB - With the global population set to continue growing, the demand for energy will increase. Fossil fuel resources are in decline, and their use is associated with environmental destruction. This highlights the need for more investment in energy resources that can meet the global demand without harming the environment. Clean forms of energy, such as solar, wind, and hydropower, are both successful and readily available, yet investment in them has fluctuated. The affordability, ease of availability and technological maturity of oil in some regions has contributed to the slow uptake of investment in renewable energy projects. This paper discusses the main barriers hindering investment in clean energy production, highlights crucial incentives that could speed up investment processes, and examines several necessary strategies for the transition from fossil-fuel-based energy to renewable sources.

KW - Barriers

KW - Energy transition

KW - Financing

KW - Fossil fuels

KW - Incentives

KW - Renewable energy

KW - Strategies

UR - https://www.scopus.com/pages/publications/85109091311

U2 - 10.1016/j.egyr.2021.06.041

DO - 10.1016/j.egyr.2021.06.041

M3 - Review article

AN - SCOPUS:85109091311

SN - 2352-4847

VL - 7

SP - 3590

EP - 3606

JO - Energy Reports

JF - Energy Reports

ER -

Incentives and strategies for financing the renewable energy transition: A review

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

UN SDGs

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