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

Shanshan Cao, Lin Huang, Qingping Zhang and Zǐ Hán

Energy, 2024, vol. 312, issue C

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.

Keywords: Energy transition; Socio-economic disparities; Governance quality; SDGs (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:312:y:2024:i:c:s036054422403216x

DOI: 10.1016/j.energy.2024.133440

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