With a growing demand for safe, clean, and affordable energy, countries across the world are now seeking to create and rapidly develop renewable energy (RE) businesses. The success of these businesses often hinges on their ability to translate RE into sustainable value for energy consumers and the multiple stakeholders in the energy industry. Such value includes low production costs due to an abundance of natural resources (e.g., wind, water, sunlight), and public health benefits from reduced environmental pollution. Despite the potential for value creation, many RE businesses have struggled to create affordable energy as abundant as that which is produced by traditional fossil fuels. The rationale being that traditional RE sources emanating from natural resources tend to rely on unpredictable weather conditions. Therefore, to help RE businesses deliver sustainable value, we should leverage disruptive innovation that is less dependent on natural resources. This paper is one of the first attempts to assess the impact of disruptive innovation on RE business performances based on the survey data obtained from multiple countries representing both emerging and developed economies.
Does financial development influence renewable energy consumption to achieve carbon neutrality in the USA?
