NEXUS BETWEEN ENERGY EFFICIENCY, ENERGY SECURITY AND ECONOMIC DEVELOPMENT: EMPIRICAL EVIDENCE FROM BRICS ECONOMIES

2021 ◽  
pp. 1-25
Author(s):  
CHING-CHI HSU ◽  
FENGSHENG CHIEN ◽  
QUANG-THANH NGO ◽  
TIEN-DUNG NGUYEN ◽  
HIEU MINH VU ◽  
...  
Keyword(s):  
South Africa ◽  
Energy Efficiency ◽  
Economic Development ◽  
Renewable Energy ◽  
Energy Security ◽  
Policy Design ◽  
Clean Energy ◽  
Least Square ◽  
Risk Area ◽  
High Risk Area

The objective of this study is to measure the energy efficiency and energy security by using Data Envelopment Analysis (DEA) and an econometric estimation such as ordinary least square method (OLS) to measure the relationship between energy efficiency, energy security and economic development with macro-economic indicators such as energy consumption, economic growth, and environmental degradation factors by using the data from 1976 to 2016 while the energy efficiency has been measured during the period of 2010 to 2018. Results show that Brazil and Russia are countries with less energy for these consecutive years. This work contributes to the existing literature on eco-friendly and sustainable policy design in BRICS countries based on multiple indicators. The analysis also indicates that the quality of a country’s laws and regulations are essential for expanding research on renewable energy because the right policy tools serve as the basis for the transition. It is also found that Brazil, Russia, and South Africa have the best score in terms of energy and economic development while China and India are among the lowest performing countries in clean energy. Energy efficiency results show that china has the highest score of 1 while India and South Africa energy score is about 0.623 and 0.64 respectively. This serves as a panacea to study the country’s energy insecurity and bridge the gap in the literature. As the renewable energy industry is considered a high-risk area, it is necessary to develop essential aversion tools for financial policy risks to attract private capital.

scholarly journals Dynamic Role of Renewable Eenrgy to Strengthen Energy Security and Energy Poverty Reduction: Mediating Role of Low Carbon Finance

2021 ◽  
Author(s):  
Dinh van Tien ◽  
Thai Van Ha ◽  
Tran Duc Thuan ◽  
Thai Thi Kim Oanh ◽  
Nguyen Phan Thu Hang ◽  
...  
Keyword(s):  
Energy Security ◽  
Poverty Reduction ◽  
Fossil Fuels ◽  
Sustainable Consumption ◽  
Sub Saharan Africa ◽  
Low Carbon ◽  
Risk Area ◽  
Energy Poverty ◽  
High Risk Area

Abstract This paper provides an empirical analysis of deploying renewables in Africa's five most populous countries for 2001-2019. It analyzed these factors to see how they impact deploying renewables by employing panel data using the pooled ordinary least squared(OLS) at frim level analysis to increase energy security and to reduce energy poverty. After the analysis, we proved that access to clean fuels and technologies for cooking needs the study countries to deploy renewables as most Africans cook with polluting fuels having detrimental health implications. The analyses further revealed that these countries generate a chunk of their electricity from fossil fuel sources, making it imperative to jettison fossil fuels and embrace renewables cheaper and environmentally friendly. The analysis also showed that the Quality of regulation in a country is vitally important to scaling up renewables in the study countries since the right policy tools underpin the transition. Furthermore, the lack of Electrification is important to developing renewal energy sources in the study countries. Sub-Saharan Africa has about nearly 600 million people not having access to electricity. Thus deploying renewables will bridge the access gap. Cleaner energies will be the panacea to the study countries’ energy insecurity situation and bridge the access gap. The study countries have the technical and theoretical potential for all the renewable energies needed to ensure sustainable consumption. What is needed is to institute cornerstone financial policy de-risking instruments to crowd in private capital since the renewables sector is perceived as a high-risk area.

Energy efficiency and the CDM in South Africa: constraints and opportunities

2007 ◽  
Vol 18 (1) ◽  
pp. 29-38 ◽  
Author(s):  
H. Winkler ◽  
D. Van Es
Keyword(s):  
South Africa ◽  
Energy Efficiency ◽  
Energy Savings ◽  
Clean Energy ◽  
Demand Side Management ◽  
Major Elements ◽  
Small Scale ◽  
Level Energy ◽  
Demand Side ◽  
Barriers To Energy Efficiency

Energy-efficiency projects were expected to consti-tute an important project type under the Clean Development Mechanism (CDM). In South Africa, there is significant potential for energy savings in several sectors. The savings possible in industry have been demonstrated through plant-level energy audits, measurement and verification of Eskom’s Demand Side Management (DSM) programme and national energy modelling. Enabling policy for energy efficiency and demand-side management has been adopted by government and the utility, Eskom. A dedicated National Energy Efficiency Agency (NEEA) was established in 2006. Yet, energy-efficiency still fails to realise its potential. The paper seeks to dispel the misconception that energy efficiency projects might not be ‘additional’ under the CDM. Analysis of barriers, which is well understood by those dealing with energy efficiency, can be used to demonstrate additionality. A stan-dard tool for demonstrating additionality is now available, as are baseline methodologies for both large and small-scale CDM projects. It should, therefore, be clear that energy efficiency projects are not a priori ruled out as non-additional. Each proj-ect has to demonstrate additionality, as for any other project type. Finances are available from various sources, and the CDM can offer further funding for initial costs, or in removing the barriers to energy-efficiency projects. Internationally, energy efficiency initially did not account for large numbers of CDM projects, nor a major share of carbon credits. With the recent growth in CDM projects, however, the numbers of energy-efficiency projects are increasing internation-ally. In South Africa, analysis of the emerging CDM portfolio shows that energy-efficiency projects are much better represented at the concept stage than in fully designed CDM projects.The major elements for implementing energy-efficiency projects exist – dedicated institutions, enabling policy frameworks, approved methodolo-gies and even an electricity crisis to raise awareness. Funding is available from various sources, and the CDM can offer further funding for initial costs or in removing the barriers to energy-efficiency projects. The CDM rules should soon allow for registration of entire programmes, which could include energy-efficiency standards or demand-side management. Innovative financing solutions such as clean energy lending can assist as well. All that seems to be needed is a concerted effort to realise the potential. Such efforts could be driven by the Designated National Authority or the National Energy Efficiency Agency. Together with initiatives from the private sector, a dedicated effort might help South Africa find a clear route for ener-gy-efficiency projects under the CDM in South Africa.

scholarly journals Global energy security and international economic development

2020 ◽  
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Circular Economy ◽  
Energy Security ◽  
Global Economy ◽  
Business Models ◽  
Clean Energy ◽  
Resource Saving ◽  
Use Of Resources ◽  
General Functioning

Energy security is at the top of the international political and economic agenda due to its importance for the economic and social development of individual countries, for relations between them, for the global economy and the environment. Indeed, it is difficult to imagine an area where countries are more interdependent than at the confluence of energy, environment, and economic development. Energy security has implications for domestic and foreign policy. This means the interdependence between producer and consumer, where mutual vulnerability and a win-win opportunity are short-term and long-term. The work systematizes the types of energy with the goal of sustainable development: the balance of economic, social, and environmental components, through a model of a circular economy, which allows achieving energy security. The first step is switching from carbon-based energy (oil, gas, coal) to clean energy (solar, wind, hydropower, etc.). However, it is also important to act on the principle of energy efficiency, which is to measure the difference between the actually used energy and the total energy consumed (often higher due to losses). The principle of the circular economy of achieving the most efficient use of resources is the most essential for the development of innovative solutions aimed at the transition to clean energy. Having studied the various approaches by comparison and analogy, we can conclude that the Concept of the circular economy offers effective business models to ensure environmentally friendly resource use, contributing to the achievement of sustainable development goals of society. The article used historical and statistical methods, as well as a system approach to the study of economic phenomena, which helped to identify the relationship between all elements and their roles in the general functioning of the circular economy. Using the method of comparison and scientific modeling, the role of the circular economy in resource-saving, minimizing waste and reducing pressure on the environment is revealed, while achieving significant economic and social results in energy security.

scholarly journals A roadmap framework for solar aided power generation in South Africa

2017 ◽  
Vol 26 (4) ◽  
pp. 1
Author(s):  
Josephine K. Musango ◽  
Alan C. Brent
Keyword(s):  
South Africa ◽  
Power Generation ◽  
Renewable Energy ◽  
Energy Security ◽  
Technology Development ◽  
Policy Formulation ◽  
Medium Term ◽  
Energy Independence ◽  
Procurement Programme

Technology roadmaps are critical for decisions pertaining to technology development. They have been utilised in the renewable energy sector to assist in filtering alternative technology options in order to support energy policy formulation, energy security and energy independence, among others. However, solar aided power generation is a recent concept and no roadmap has been developed for the technology as yet. This paper thus reviewed the literature related to roadmapping with the aim of understanding the methods and tools that have been utilised in other settings. Informed by the literature, a conceptual framework was developed, which was further utilised for the initial analysis for developing a roadmap for solar aided power generation in South Africa. Generally, it would be beneficial for South Africa to integrate solar aided power generation within its current Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) or the National Treasury Public-Private Partnership (PPP) programme. However, it should be noted that this is only feasible in the short- and medium-term. In the long-term, there is a need to support stand-alone solar thermal technologies.

scholarly journals The Effect of Renewable Energy Consumption on Sustainable Economic Development: Evidence from Emerging and Developing Economies

Energies ◽  
2019 ◽  
Vol 12 (15) ◽  
pp. 2954 ◽  
Author(s):  
Mun Ahmed ◽  
Koji Shimada
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Latin American ◽  
Developing Economies ◽  
Least Square ◽  
Renewable Energy Consumption ◽  
The World ◽  
The Caribbean

The objective of the paper is to figure out the nexus between renewable energy consumption and sustainable economic development for emerging and developing countries. In this paper, a panel of 30 emerging and developing countries is selected using the World Development Indicators (WDI) of the World Bank, Renewable Energy Country Attractiveness Index (RECAI) by Ernst and Young, and a random selection method based on the current trend of renewable energy consumption for five different regions of the world i.e., Asia, South-Asia, Latin America, Africa and the Caribbean. To achieve the objective, robust panel econometric models such as the Pesaran cross-section dependence (CD) test, second generation panel unit root test, e.g., cross-sectional augmented IPS test (CIPS) proposed by Pesran (2007), panel co-integration test, fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) are applied to check the cross-sectional dependence, heterogeneity and long-term relationship among variables. The panel is strongly balanced and the findings suggest a significant long-run relationship between renewable energy consumption and economic growth for selected South Asian, Asian and most of the African countries (Ghana, Tunisia, South Africa, Zimbabwe and Cameroon). But for the Latin American and the Caribbean countries, economic growth depends on non-renewable energy consumption. Renewable energy consumption in the selected countries of these two regions are still at the initial stage. In case of the renewable energy consumption and CO 2 emissions nexus, for selected South Asian, Asian, Latin American and African countries both GDP and non-renewable energy consumption cause the increase of CO 2 emissions. For the Caribbean countries only non-renewable energy consumption causes the increase of CO 2 emissions. An important finding regarding renewable energy consumption-economic growth nexus indicates the existence of bi-directional causality. This supports the existence of a feedback hypothesis for the emerging and developing economies. In the case of renewable energy consumption- CO 2 emissions nexus, there exists unidirectional causality. This supports the existence of the conservation hypothesis, where CO 2 emissions necessitates the renewable energy consumptions. Based on the findings, the study proposes possible policy options. The countries, who have passed the take-off stage of renewable energy consumption, can take advanced policy initiatives e.g., feed-in tariff, renewable portfolio standard and green certificate for long-term economic development. Other countries can undertake subsidy, low interest loan and market development to facilitate the renewable energy investments.

Determination of the palm based biodiesel policy integration model as a renewable energy commodity

2021 ◽  
Vol 10 (3) ◽  
pp. 263-276
Author(s):  
Lusi Zafriana ◽  
Marjono Marjono ◽  
Indah Dwi Qurbani ◽  
Sugiono Sugiono
Keyword(s):  
Renewable Energy ◽  
Energy Security ◽  
Action Plan ◽  
Renewable Energy Sources ◽  
Value Added ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
World Population ◽  
Integration Model

The increase in economic activity in the industrial sector and the rapid growth of the world population have stimulated an increase in energy demand. In 2004, Indonesia earned the status of a net importer of oil so that it becomes a challenge for the Indonesian government in developing the use of renewable energy to achieve ideal conditions for national energy security. Indonesia has the potential for large amounts of renewable energy sources, one of which is palm-based biodiesel. The mandatory biodiesel policy program was implemented in 2008 with a biodiesel content of 2.5% and gradually until 2019 with a biodiesel content of 30% (B30). The mandatory biodiesel policy is closely related to the achievement of the Sustainable Development Goals (SDGs), and the concept of maintaining the balance of Trilemma Energi. The current energy management and utilization policies in Indonesia continue to increase in line with modern life consumption patterns that require a more environmentally friendly energy variable for energy absorption in Indonesia, especially renewable energy. The purpose of this research is to determine the integration model of palm-based biodiesel policy as a renewable energy commodity to support energy security. This study uses several strategic frameworks by combining a quantitative approach through the perspective of the Balanced Scorecard (BSC) and measuring the technology coefficient using the Technology Contribution Coefficient (TCC), as well as a qualitative approach with the Business Model Canvas (BMC) and the design of the Omnibus Law. Data were collected through Focus Group Discussion (FGD) and Expert Opinion (EO) which were validated by Structural Equation Modeling-Partial Least Square (SEM-PLS) using a sample of 40 respondents from related agencies. The results showed that based on the SEM-PLS validation of 20 BSC perspective variables, two invalid variables were obtained, namely the variable efficiency port service cost and value-added creation which had a P value> 0.05. Meanwhile, Indonesia's TCC score is quite high, namely 0.787, which means that Indonesia is quite aggressive in developing biodiesel and its policies. Based on the results of the FGD expert, it was obtained that the BMC initiates the helicopters to view current biodiesel developments. And 10 regulations have been drafted into a proposed draft Omnibus Law through an action plan.

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