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A Panel Data Approach towards the Effectiveness of Energy Policies in Fostering the Implementation of Solar Photovoltaic Technology: Empirical Evidence for Asia-Pacific

Farah Roslan (), Ştefan Gherghina (), Jumadil Saputra (), Mário Nuno Mata (), Farah Diana Mohmad Zali () and José Moleiro Martins ()
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Farah Roslan: Centre for Fundamental Studies, Universiti Sultan Zainal Abidin, Kampus Gong Badak, Kuala Nerus 21030, Terengganu, Malaysia
Jumadil Saputra: Department of Economics, Faculty of Business, Economics and Social Development, Universiti Malaysia, Kuala Nerus 21030, Terengganu, Malaysia
Mário Nuno Mata: ISCAL-Instituto Superior de Contabilidade e Administração de Lisboa, Instituto Politécnico de Lisboa, Avenida Miguel Bombarda 20, 1069-035 Lisboa, Portugal
Farah Diana Mohmad Zali: Centre for Fundamental Studies, Universiti Sultan Zainal Abidin, Kampus Gong Badak, Kuala Nerus 21030, Terengganu, Malaysia
José Moleiro Martins: ISCAL-Instituto Superior de Contabilidade e Administração de Lisboa, Instituto Politécnico de Lisboa, Avenida Miguel Bombarda 20, 1069-035 Lisboa, Portugal

Energies, 2022, vol. 15, issue 10, 1-22

Abstract: Today, the growing Asia-Pacific population causes a dramatic growth in energy supply to meet energy demand. The rapid rise in energy demand is causing concern in the region. Thus, the present study scrutinizes the effect of energy policy involvement in steering-up renewable energy development by empirically assessing the role of policy instruments in encouraging residential-scale and commercial-scale photovoltaic (PV) systems. The analysis is performed using a fixed effects estimator on a selected range of policy approaches (market-pull policies and tax incentives) and a technology-push policy (capital grants) in selected Asia-Pacific countries between 1998 and 2015. The return on investment is estimated to measure the incentives of feed-in tariff (FIT) tariff policies for both residential-scale and commercial-scale PV systems. This study has shown the importance of a strategic combination between technology-push and market-pull policies as complementary to adopting technology and increasing renewable energy utilization for solar PV systems on a residential scale. Investigations into the effectiveness of regulatory support policies for solar PV systems indicate that energy policies are necessary to facilitate solar PV growth on a residential scale in the Asia-Pacific.

Keywords: renewable energy; solar photovoltaic; policy effectiveness; Asia-Pacific (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
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