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Global Trends and Regional Differences in Renewable Energy Adoption-A Brief Review

  • Unique Paper ID: 176992
  • Volume: 11
  • Issue: 12
  • PageNo: 27-42
  • Abstract:
  • The paper discusses modern trends in the global market for renewable energy development. Despite the dynamic deployment of renewable energy capacity observed worldwide today, the global energy market is still dominated by non-renewable energy sources. The paper analyses the development factors of the global renewable energy market and their impact on the construction of renewable energy options. The analysis showed that the main driving forces behind the growth of the world's renewable energy sector are political factors, especially the implementation of well-thought-out support mechanisms and policies to promote renewable energy production. Since such incentives were introduced mainly in the electricity sector, it is now in a leading position, while insufficient implementation of incentives for transport, heat, and cooling has slowed down its development. In addition, the main challenges that prevent increasing the competitiveness of renewable energy in the global energy market are highlighted. The main factors affecting regional differences are resource availability, political framework, economic conditions, and existing energy infrastructure.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 12
  • PageNo: 27-42

Global Trends and Regional Differences in Renewable Energy Adoption-A Brief Review

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