Enhancing energy efficiency in Asia-Pacific: Comprehensive energy policy analysis

Bless Kofi Edziah and Eric Evans Osei Opoku

Energy Economics, 2024, vol. 138, issue C

Abstract: The Asia-Pacific (APAC) region has undergone remarkable economic growth over the past three decades, significantly reducing poverty levels. However, the concurrent rise in energy consumption and its environmental impact necessitate the development of a sustainable energy system to sustain and accelerate this progress. Recognizing the critical role of energy efficiency, governments in the region have increasingly formulated and implemented energy policies, encompassing laws, regulations, and action plans. However, understanding the precise influence of these policies on energy efficiency remains a challenge. This study employs an endogenous stochastic frontier analysis (SFA) model using data from the Asia Pacific Energy Portal Policy database covering 23 emerging economies from 2000 to 2017 to assess how energy policies affect energy efficiency in the APAC region. The findings indicate that implementing energy policies correlates with an average increase in energy efficiency by 0.158%. However, the impact varies depending on whether the policies are laws, regulations, or strategies. Though the region's average energy efficiency standing is at 0.34, there has been a consistent upward trend observed from 2000 to 2017. Furthermore, optimizing aggregate energy policies has resulted in substantial energy savings, averaging 0.15 quadrillion Btu. In light of these results, we proposed some policy actions.

Keywords: Energy efficiency; Energy policy; Energy laws; Energy plans; Energy regulations; APAC region (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:138:y:2024:i:c:s0140988324005395

DOI: 10.1016/j.eneco.2024.107831

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