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The problems of achieving the UN's sustainable development goals related to providing both developed and developing countries with cheap and accessible energy, as well as in the context of taking climate action, cannot be solved, on the one hand, without a transition to Energy 5.0, within the framework of the upcoming Fifth Industrial Revolution. On the other hand, it cannot be carried out without ensuring a "seamless" Fourth Energy Transition, which poses new challenges for the technological modernization of power production from non-renewables. Along with this, the expected transition to a human-centric Industry 5.0 challenges researchers to identify obstacles to the diffusion of technologies within hydrocarbon production industries and ways to overcome them in regard to the upcoming Mining 5.0 and Oil and Gas 5.0 environment. In this regard, the purpose of this review is to analyze the structure of scientific publications in this field of research on the human-centric development of technologies in terms of these platforms in order to outline the basis for further research. To achieve this goal, this review provides a multifaceted overview of the main technologies of Industry 5.0, embodied within Energy 5.0, Mining 5.0, and Oil and Gas 5.0, such as collaborative artificial intelligence and co-bots, digital tees, the industrial Internet of Everything, smart cities, and industry; their human-centric nature is revealed as the basis for achieving significant sustainable development goals. This review concludes that there is a need for further analysis of certain areas of the transition to Energy 5.0, such as the human-centric development of digital technologies of Industry 5.0 in the fuel and energy sector, and the revision of its role in terms of achieving the sustainable development goals in the future. [ABSTRACT FROM AUTHOR]

As civilization and technology have developed, there have been multiple energy transitions that have pushed various resources like coal, wood, oil, and gas to the forefront of the energy mix. Due to a variety of geopolitical initiatives, there have been progressively more restrictions on the energy sector in recent years. One of the main concerns of researchers is the widespread use of renewable energy and the replacement of fossil resources. The utilization of non-renewable energy sources results in a detrimental increase in greenhouse gas emissions. One of the most crucial strategies for lowering energy consumption and enhancing the energy system's sustainability is to increase energy efficiency. Numerous studies note that energy transition has become necessary in the modern day. Using the analysis of the main components as an extraction method, hierarchical cluster analysis, this study focuses on the situation of the states of the European Union in their race for energy transition, taking into account the main challenges generated by geopolitical tensions and the energy poverty spectrum for the population. The conclusions of the study call for a reconfiguration of the energy mix based on renewable energy. Increasing the share of renewable energy is a goal pursued by EU countries, but energy policies must be considered in a broader context that includes the social aspects of the energy transition. So, just transition is a new concept that reshapes the actions of public authorities on the path to a low-carbon economy. Just transition is a necessity that puts the consumer at the center of attention so that the negative externalities generated by the move away from fossil fuels are minimized in terms of social impact. [ABSTRACT FROM AUTHOR]

According to the Food and Agriculture Organization of the United Nations (FAO), artisanal fishing involves the use of small fishing vessels for short fishing trips aimed at capturing fish for consumption and local marketing. This process requires energy at various stages, from boat navigation to refrigeration for storage. The energy used in this process typically comes from fossil fuels, which has environmental impacts due to the carbon footprint of the boats. Additionally, the lack of economic resources to purchase the necessary fuel for the engines hampers the daily work of fishermen. The International Renewable Energy Agency (IRENA) defines energy transition as the pathway towards transforming the global energy sector from fossil-based to zerocarbon by the second half of this century. The energy transition aims to decarbonize the economy and offers opportunities to reduce dependence on fossil fuels. This paper reviews essential concepts for understanding the process of reducing fossil fuel consumption in fishing operations from the perspective of energy transition. Technological, environmental, and socio-economic factors are considered to promote responsible fishing in rural coastal areas of Colombia. A case study in the municipality of Guapi (province of Cauca, Colombia) is examined. [ABSTRACT FROM AUTHOR]

The building sector is significantly contributing to climate change, pollution, and energy crises, thus requiring a rapid shift to more sustainable construction practices. Here, we review the emerging practices of integrating renewable energies in the construction sector, with a focus on energy types, policies, innovations, and perspectives. The energy sources include solar, wind, geothermal, and biomass fuels. Case studies in Seattle, USA, and Manama, Bahrain, are presented. Perspectives comprise self-sufficiency, microgrids, carbon neutrality, intelligent buildings, cost reduction, energy storage, policy support, and market recognition. Incorporating wind energy into buildings can fulfill about 15% of a building's energy requirements, while solar energy integration can elevate the renewable contribution to 83%. Financial incentives, such as a 30% subsidy for the adoption of renewable technologies, augment the appeal of these innovations. [ABSTRACT FROM AUTHOR]

There is no doubt that the transition towards renewable energies is generating many changes on different continents, some with greater impacts than others, but the development that has occurred is recognized and widely accepted. The progress has been significant but it is necessary to analyze the roadmaps that have been proposed so far at the island level so that decision makers have sufficient tools to commit the much-needed economic resources to transform their energy systems into 100% renewable ones. These approaches are not simple and the hard work of the authors who have disseminated their research is recognized. The roadmaps are planned based on the energy potential available in the territories and the future energy demand. Within countries, it is important to increase the economic resources to allocate to investments in environmentally friendly renewable energies. In this review of 100% renewable smart systems on islands, the situation of the American continent, its challenges and its long-term approaches in the different geographical areas facing 2050 are analyzed. This article shows that research into the design of 100% renewable energy systems in scientific articles is fairly new but has gained more and more attention in recent years. In total, 175 articles published since 2002 were identified and analyzed. Many of these articles have a predominant focus on the electricity sector. As a general result, it has been determined that although there has been significant progress towards an orderly energy transition, this has not been consistent with the international agreements signed since the Paris Summit, which is a real challenge in complying with the new commitment of the COP28 of Dubai in tripling the participation of renewables. [ABSTRACT FROM AUTHOR]

Countries all over the world have been seeking ways and methods so that their electrical matrices can stand out using clean and renewable energy sources. In this context, this article presents a review with analysis of sector legislation on photovoltaic solar energy in Brazil. This study was grounded in four steps: (i) sample definition; (ii) theoretical basis; (iii) network analysis; and (iv) content analysis in two stages of research. Initially, a systematic literature review was carried out in order to map all the major and most cited works. The second stage consisted in reading and performing a critical analysis of government documents and reports from the energy sector in Brazil using a few bibliometric resources for such a purpose. Its results reveal that photovoltaic solar energy in Brazil has grown and expanded to different applications, since floating solar plants and subscription to solar energy are becoming increasingly attractive. Furthermore, a possible replacement of photovoltaic solar generation for thermoelectric plants has been investigated once there are a few positive aspects yet to be found thereof. As samples of the results obtained, we have that the replacement of works would allow the photovoltaic solar energy source to increase by 1% in the electrical matrix and would stop emitting 10,738,478 tons into the atmosphere, there would be a progressive decrease in the use of tariff flags (which affect directly to the final consumer) and a reduction in operating costs would also be achieved. [ABSTRACT FROM AUTHOR]

Today's energy challenges are multifaceted. Over the past 30–40 years, energy issues have been discussed and published on an extensive scale. The green transition involves concrete actions related to increasing energy efficiency, replacing fossil fuels with alternative fuels, producing energy using renewable resources, creating various means of transport that use electric motors, identifying technical solutions that generate an increased energy yield in the case of buildings, and waste reduction, reuse and recycling. In order to attain a climate-neutral environment, it is mandatory to impose regulations, measures and actions to help decarbonize the energy sector. The analysis of published articles on these issues is the subject of this large and information-dense review. Concretely, the transition to climate neutrality will generate obvious advantages at an economic, social and technological level, for example, the opportunity for economic growth, new business models and new markets, and the generation of new jobs or technological development. At the same time, this paper underscores the need for a multifaceted approach, integrating technological innovation, policy intervention and global cooperation for an effective energy transformation. The review suggests future issues and research directions, focusing on viable strategies for energy transition and its socio-economic environmental impacts. [ABSTRACT FROM AUTHOR]

Energy transformation in Poland, including the need to accelerate the shift away from hard coal and lignite in the power system, has been taking place in the face of the energy crisis. Ambitious climate and economic goals force the development of renewable energy sources, but they require legislative changes for the benefit of socially vulnerable consumers. This is important from the point of view of counteracting energy poverty. Energy transformation is not only a change in the fuel used, but most of all, the path and basis of low-carbon development that changes many socio-economic systems. The aim of this study is to link the development and environmental challenges in the studied subject matter with social challenges. The analyses show that it is necessary to strengthen the use of local energy potential and resources, and to activate local communities. The construction of nuclear power plants is also crucial. The results of the presented theoretical and empirical studies can be the basis for a revision of the energy policy in Poland in the area of the social dimension of the energy sector. [ABSTRACT FROM AUTHOR]

Background: Development finance is vital for low- and middle-income countries to enhance their sustainability agendas, as it provides essential funding necessary to close domestic financing gaps, including in the energy sector. Coal is still a vital power source for the energy sectors in the Western Balkans (i.e., Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia). The energy sector is a critical component in the five countries' pursuit to decarbonize (i.e., follow the net zero pathways) due to its central role as a primary contributor to greenhouse gas emissions and a critical enabler of sustainability transition. This article presents a mapping exercise of development finance for five Western Balkan countries' energy sectors. The study conducted a scoping literature review and detailed analysis of the five countries' energy sector-related development finance flows from 2008 to 2020. This aimed to provide insights into the development finance flows for renewable and non-renewable energy sources in five Western Balkan countries. Results: The scoping literature review indicated a significant gap in knowledge about the effects and effectiveness of development finance in the Western Balkans. Data analysis identified US$3.2 billion in energy development finance in the examined countries. The disbursement ratios were above the global average of 63%. Serbia received the highest proportion of the total funding, while Montenegro obtained the highest funding per capita. The data analysis did not establish a connection between adopting the Paris Agreement in 2016 and increasing development finance flows for renewable energy projects. Around one-third of the disbursed development finance was invested in projects for energy supply using non-renewable sources. Official Development Aid loans represented 37% (US$1.2 billion) of the total funding, contributing to the increase in indebtedness in the five countries. European-based bilateral and multilateral development finance providers were the most important actors in the five examined countries. Conclusions: The amount of the disbursed development finance was insufficient to cover a significant percentage of the needs of the surveyed countries. Although carbon-intensive energy infrastructure received considerable funding, the total amount of disbursed energy development finance ranged between 0.15 and 0.62% of the average gross domestic product for the analyzed countries during the study period. Based on the research findings, we recommend that development finance providers and recipient countries pay greater attention to planning for strategic funding disbursement. [ABSTRACT FROM AUTHOR]

Climate change as a challenge we all are facing, varying degree of economic development as a result of COVID-19, the volatility in energy prices and political as well as other factors, most countries have restructured their electricity markets in order to facilitate the use of green renewable energy. The right energy mix in a period of energy transformation is the best strategy for achieving reduction of carbon emissions. Bulgaria is a special case because it has expanded the use of solar and wind energy exponentially, without conducting an adequate preliminary forecast analysis and formulating a parallel strategy for the development and expansion of the energy storage infrastructure. In this regard, the article is focused on how the power energy market is structured with the increasingly large-scale and global penetration of renewable energy sources as primary energy sources, observing several key factors influencing the energy transition. Due to the cyclical nature of energy production and the necessity for a smooth and efficient transition, a long-term seasonal storage plan should be considered. Furthermore, solar energy production facilities have a greater share of installed power, but wind power facilities generate a roughly equivalent amount of electric energy over the course of a year. One of the aims of this research is to discover an appropriate model for predicting the electricity output of wind and solar facilities located in Bulgaria that can be used to ease the transition process. Based on thorough data analysis of energy production over the past 11 years and 5 months, our findings suggest that a SARIMA model might be appropriate, as it takes into account the seasonal cycles in the production process. [ABSTRACT FROM AUTHOR]

Renewable energy is the fastest growing energy source. China, the world's biggest energy consumer, is also the largest investor in renewable energy. Although it is expected that oil will continue to dominate the energy mix in China and in the world by 2040, a transition towards a renewable model in the energy sector is unfolding, which has also been acknowledged by international oil companies (IOCs). Then, how the Chinese national oil companies (NOCs) approach such a transition becomes important – to what extent their investment transform and what are the pressures and influences behind the transformation. This paper investigates the positions and decisions taken by the Chinese NOCs, through comparing the similarities and differences between these NOCs and IOCs. A neo-Gramscian theoretical framework that considers environmental governance through dynamics at material, organisational, and discursive levels is used to examine the Chinese NOCs' energy transition. We find that the Chinese NOCs' energy transition is determined by: materially, economic profits; organisationally, the administrative environmental governance structure that copes with the market competition against IOCs and other state-owned companies; and discursively, the political concept of ecological civilisation. [ABSTRACT FROM AUTHOR]

Informed by the literature on energy justice and community-owned energy, this study explores perspectives on Indigenous-owned renewable energy in Alberta, Canada. Amidst a pro-oil political and economic environment, several Indigenous-owned renewable energy projects are underway in Alberta. From indepth interviews with 22 key informants who develop, fund, and champion Indigenous-owned renewable energy projects, we explore perspectives on the meanings and significance of ownership and respond to the possibilities and challenges of Indigenous ownership. Specifically, we explore how Indigenous ownership is defined and understood, and examine the possibilities and limits of Indigenization within and beyond renewable energy. Results indicate that equity ownership is critical to rewriting legacies of disenfranchisement. Amidst these views we note important insights about the risks associated with 'pilot project syndrome' and the need to ensure that projects are not just community-owned but are also community-led. Results also indicate flexible perspectives on Indigenous engagement with the energy sector, indicating ongoing interests in renewable and non-renewable energy projects. [ABSTRACT FROM AUTHOR]

Georgia is a small, open, developing economy, situated in a key geopolitical area at the crossroads between Europe and Asia, striving to achieve greater energy and national security. Achieving energy security, however, can be challenging for a country poorly endowed with fossil fuels and with limited interactions with broader international energy markets. Georgia, luckily, has the potential to dramatically increase its energy security in the coming decades by means of greater integration with its neighbours and European energy markets, and building on the current emphasis on (and support for) energy transition and decarbonisation initiatives to fight climate change, leveraging its endowment of renewable energy sources and its strategic location between Europe and Asia. [ABSTRACT FROM AUTHOR]

Energy transformation and sustainability have become a challenge, especially for developing countries, which face broad energy-related issues such as a wide demand–supply gap, extensive fossil fuel dependency, and low accessibility to clean energy. Globally, smart grid technology has been identified to address these affairs and enable a smooth transition from traditional to smart energy systems, ensuring energy security. This paper studies the critical role in strengthening the power system, integrating renewable sources, electrifying the transport sector, and harnessing bioenergy. Evaluating the current energy scenario in Nepal, this article presents the smart grid as a solution to existing and future energy issues and the associated challenges during its implementation, urging concerned authorities to launch initiatives to promote it. Moreover, this study also lays the foundation for future research into the smart grid's potential to reform the power sector in other developing nations with abundant renewable energy sources and similar energy-related barriers. [ABSTRACT FROM AUTHOR]

India is severely affected by the COVID-19 pandemic and is facing an unprecedented public health emergency. While the country's immediate measures focus on combating the coronavirus spread, it is important to investigate the impacts of the current crisis on India's renewable energy transition and air quality. India's economic slowdown is mainly compounded by the collapse of global oil prices and the erosion of global energy demand. A clean energy transition is a key step in enabling the integration of energy and climate. Millions in India are affected owing to fossil fuel pollution and the increasing climate heating that has led to inconceivable health impacts. This paper attempts to study the impact of COVID-19 on India's climate and renewable energy transitions through machine learning algorithms. India is observing a massive collapse in energy demand during the lockdown as its coal generation is suffering the worst part of the ongoing pandemic. During this current COVID-19 crisis, the renewable energy sector benefits from its competitive cost and the Indian government's must-run status to run generators based on renewable energy sources. In contrast to fossil fuel-based power plants, renewable energy sources are not exposed to the same supply chain disruptions in this current pandemic situation. India has the definite potential to surprise the global community and contribute to cost-effective decarbonization. Moreover, the country has a good chance of building more flexibility into the renewable energy sector to avoid an unstable future. [ABSTRACT FROM AUTHOR]

Peru is committed by international agreements such as the Paris Agreement and the UN 2030 Agenda for Sustainable Development to reduce its Green House Gas (GHG) emissions. Although Peru began promoting power plant projects based on renewable energies in 2008, the institutional impulse seems to have ceased today. Nonetheless, adopting renewable energy sources not only aids in fulfilling these commitments but also reduces electricity prices, fostering a more competitive economy. This study aims to provide a thorough analysis and evaluation of the impact that integrating Non-Conventional Renewable Energy Resources (NCRER) has on Peru's wholesale electricity market. Specifically, it focuses on the net total savings for the system, calculated as the difference between the reduction in energy costs traded and the cost of the renewable premium. To reach that goal a simplified yet analytical tool has been developed based on a multivariable regression of the real data of the market. The volume of natural gas not consumed and the volume of GHG emissions avoided will also be evaluated. The results show that based on the 2021 scenario, a NCRER share of 28.26 % would lead to a net saving for the final users of 316.04 MUSD in the annual energy traded in the market. The reduction of conventional thermal generation prevents the annual burning of 2.04 normal km3 of natural gas and the emission of 4.99 million tons of CO 2-eq. To the authors' knowledge, this is the first time that the impact of NCRER production in the Peruvian electricity system has been quantitatively evaluated. [ABSTRACT FROM AUTHOR]

Sustainable development (SD) can indicate the direction of the development of modern organizations' transition and transformation strategies in the energy sector. Currently, in most countries, the main challenge for the energy sector's strategies is to deal with energy security. The implementation of SD induces changes both in strategy and technology. The strategies are based on the technological transition toward renewable energy sources (RES). The aim of this paper is to explore business management literature dedicated to the transformation and transition strategies in the energy sector. The adopted methods are a systematic literature review (SLR) accompanied by a classical literature review (CLR) in Scopus database exploration. A literature review is developed in VOSviewer software and keyword co-occurrences analysis allowed to identify the main changes of direction in energy sector transformation strategies. The literature was explored by the 26 queries which resulted with 11 bibliometric maps. The analysis of the bibliometric maps was a challenge due to the cross-disciplinary strategic directions of development presented in indexed publications in the Scopus database. The identification of the changes in energy sector strategies is important because of its reliance on depleting resources and natural environment degradation. As a result of this paper, there is a visible shift of the trend in explored scientific publication from not only technological-based solutions but also towards managerial and organizational practices to achieve sustainability in the energy sector. This paper, besides the results, presents the theoretical contribution and managerial recommendations for business practices and addresses future research avenues. There are discussed implications of the presented analysis for further research. [ABSTRACT FROM AUTHOR]

Energy transformation in the European Union countries is progressing. Its scope is defined by formal and legal regulations and its effectiveness by the position of decision-makers, legitimised by public support for a particular type of challenge. Both issues are the focus of this article. The promotion of environmental protection measures is currently strongly promoted globally. Hence the widespread acceptance in principle of the changes associated with the implementing of the Green New Deal in the energy sector is not surprising. However, to what extent is knowledge of the solutions constituting the mainstream transition (renewable energy sources) ingrained among communities? Does the level of public awareness influence individual consumer choices, modelling the market? The threads outlined above inspired deliberations focused on analysing the assumptions behind energy transition in the EU, with particular reference to the countries directly bordering the line of the ongoing conflict in Ukraine (Poland, Lithuania), in the light of the resulting and escalating restrictions exacerbating the energy crisis. The immediate neighbourhood of the adopted countries, and their similar socio-economic conditions, provided the basis for comparisons and conclusions. The motivation for the choice of the issue and research area was to fill the clear information gap in this study area, strictly in relation to the adopted configuration of these countries. The research proceedings in the outlined area were primarily based on the methodology appropriate for capture and analysis of economic phenomena, enriched with the results of our own findings (questionnaire survey regarding general knowledge of the ZE market and consumer preferences), in order to assess the economic and environmental dimensions of energy transition in Poland and Lithuania and to assess the level of public awareness in this respect in the countries under study. The presented research is an important complementary element of the authors' series of studies devoted to the analysis of the development of the renewable energy market in Poland and the Baltic States, related to the individual dimensions of RES. Their results give rise to the conclusion that increased social awareness in these countries determines the popularisation of RES solutions in individual use, regardless of their type, stimulating the progress of the energy transformation process. [ABSTRACT FROM AUTHOR]

This article explores contextual background and legislative developments within the energy sector of both South Africa and the European Union (EU) which has led to the formulation of the International Just Energy Transition Partnership between South Africa and the EU and particular EU member states. This is done by observing and unpacking the state of renewable energy production within South Africa and the EU and reviewing key principles in specific legislation within the respective energy sector. The paper aims to address and identify areas of interest that should be included within the International Just Energy Transition Partnership between South Africa and the EU in order to ensure that climate goals and energy sector objectives within both South Africa and the EU are efficiently and effectively achieved. [ABSTRACT FROM AUTHOR]

Objective: The aim of this article is to identify the chances of further development of biogas production as a way to diverisfy the structure of energy production in Poland. Another one is to analyse biogas production as a part of getting closer to achieving the targets of the climate and energy framework of the European Union and Polish long-term energy sector strategies. Research Design & Methods: The research methods used in the study include: the analysis and study of the literature, heuristic techniques for data analysis, the SWOT (strengths, weaknesses, opportunities, threats) analysis. Findings: The production of biogas can be beneficial for local economic growth, environmental awareness, and social wellbeing. There is a strong need to overcome the barriers of further development of biogas production as well as analyse the opportunities, given that a type of renewable energy source is further developed. Biogas production can help meet the national and international goals concerning energy transition, developing low-carbon economies, and addressing modern economic trends. Implications / Recommendations: The aim of this paper is to investigate the chances of further development of biogas production in spite of current changes in Polish agendas. The topic is of great importance when analysing the strategy of Poland to develop a low-carbon economy. It is also a significant part of current discussions between the scientific community and business practitioners in terms of energy transition in Poland. What is worth noting is that Polish strategies concerning the development of renewable energy production should be aligned with the climate and energy targets of the European Union, which can prove problematic. Polish energy mix is still based on energy production from coal, while the EU is steadily increasing gross energy production from renewable energy sources. Contribution / Value Added: The analysis defines the role of biogas in circular economy as well as in modern economy with the consideration of environmental economics and sustainable development. It underlines the importance of biogas in energy transition in Poland, taking into consideration the Energy Policy of Poland until 2040 (Pol. Polityka energetyczna Polski do 2040 r.). [ABSTRACT FROM AUTHOR]

This paper assesses the relationship between energy security and renewable energy in the context of geopolitical risk through the quantile-on-quantile method. The finding suggests that energy security positively impacts renewable energy in the upper to middle quantiles, meaning that renewable energy inclusion in the energy mix significantly affects conflicts and lessens energy security. Moreover, energy security positively impacts renewable energy across all quantiles. On the other hand, the results recommend that renewable energy positively impacts energy security in the higher to medium quantiles. Finally, the results show that renewable energy consistently positively impacts energy security across the board except in the medium run. The increased reliance on fossil fuels implies that energy markets are not set up to promote renewables. Therefore, the transition to renewable energy must be accelerated immediately. • Examine energy security and renewable energy in the context of geopolitical risk. • Energy security positively impacts renewable energy in the upper to middle quantiles. • Energy security positively impacts renewable energy across all quantiles. • Renewable energy positively impacts energy security in the higher to medium quantiles. • Renewable energy consistently positively impacts energy security. [ABSTRACT FROM AUTHOR]

Public utilities in the electricity sector globally face increasing competition in the power generation segment, specifically considering government liberalization reforms that facilitate the clean energy transition process. Although the utilities may significantly impact this process, the literature has thus far neglected the perceptible strategies they employ to cope with the emerging competition, particularly with regard to renewable energy resources. This study addresses the lacuna by focusing on the case of Israel Electric Corporation (IEC), demonstrating how the coping strategies employed by this public utility evolved over time and thus shaped the local electricity sector. • Public utilities in the electricity sector are facing increasing competition. • This competition often goes hand in hand with the energy transition process. • The study explores what coping mechanisms public utilities employ in response to this process. • The qualitative case study focuses on the Israeli Electric Corporation. • The study demonstrates the evolution of the coping mechanisms over time. [ABSTRACT FROM AUTHOR]

• Renewable energy megaprojects are influenced by a series of lock-ins, strongly associated with regret cost. • This research focuses on the Ashalim giant thermal solar facility in southern Israel as a case study. • The case study reveals four groups of lock-ins: project, psychological, social, and organizational. • The findings illuminate the low flexibility and irreversibility of renewable energy megaprojects. • Despite the various methods to prevent lock-ins, they appear to be embedded in the mechanism of megaprojects. The energy transition process nowadays is characterized by the replacement of fossil fuels-based means of production with renewable energy (RE). Alongside the diffusion of decentralized RE, this process is associated with the increased promotion of RE megaprojects. Such megaprojects, however, are often shaped by path-dependent lock-ins and thus continue to be promoted with limited changes despite the emergence of better alternatives along the way. This study explores the role of lock-ins in the irreversibility of RE megaprojects while highlighting the notion of regret cost. In particular, the study sheds light on the influence of lock-ins within megaprojects, specifically focusing on their execution stage. Using the establishment process of Ashalim, a giant thermal solar power station in southern Israel, as a case study, we demonstrate how various lock-ins increase regulators' regret cost, thus escalating their commitment to the megaproject and causing them to neglect diverse "exit doors" during execution. We thus illuminate the irreversibility of RE megaprojects and question their capability to meet the growing need of energy markets for flexibility. [ABSTRACT FROM AUTHOR]

After many years at the forefront of renewable energy (RE) implementation both in Europe and worldwide, Spain experienced a sudden transformation in 2012 to its RE development model in which national government backing and financial incentives for renewables were removed, throwing the RE sector into a paralysis which continues to the present day. This is in marked contrast to the case of the other major European RE leader, Germany, where it has been argued that RE implementation has produced a “regime shift” that has transformed the energy generation model to a new resilient pathway. In this paper, key differences between Spanish regions are identified in the way the RE implementation process has been carried out. The research brings these different characteristics into focus and analyses the strengths and weaknesses of the RE implementation process in each region. If stakeholders at all levels are empowered and motivated towards the implementation process goal, it is less likely that a few, very powerful actors (e.g. multinational energy companies or governments) can dominate the process, and thus systemic instability can be reduced. In this way, lock-down situations like the current one can be avoided in future and a more resilient system can be designed. [ABSTRACT FROM AUTHOR]

With respect to decision making by companies, normative approaches such as the net present value (NPV) method are widely applied, even though it is known that investors may make non-normative decisions. This study aimed to obtain new information on the decision-making behavior of renewable energy (RE) companies under uncertainty in the energy market, which is not provided by the conventional normative approach. In this study, we designed a novel framework that expressed both normative and non-normative perspectives of decision making, and developed a behavioral decision-making model of a power generation company investing in large-scale RE (RE company). We also examined the decisions of the RE company under uncertainty in the energy market using the developed model, considering the Kansai region in Japan as an example study area. As a result, compared to the conventional NPV method, we obtained the following information: (i) heavy investments in either photovoltaics (PV) or wind resulted in decreased variable renewable energy (VRE) capacity, even though financial support was sufficient; (ii) balanced investments in both PV and wind yielded a larger VRE capacity in cases where financial support was sufficient; and (iii) co-worker's suggestions that lowered the decision-makers' reference point (RFP) encouraged VRE investments despite insufficient financial support. [ABSTRACT FROM AUTHOR]

The present study documents a positive market reaction to mergers and acquisition (M&A) deals involving renewable energy companies. Acquirers record positive post-deal cumulative risk-adjusted returns upon taking over a renewable energy target, especially if the former also operates in the renewable energy sector. Such deals often involve purchases of majority equity stakes financed with acquirers' stock rather than cash. Acquirers of renewable energy firms tend to be more profitable and cash-rich than their industry peers, yet they are less likely to be serial acquirers and channel cash reserves towards M&As. We evidence that the quality of corporate governance in the energy sector may play a substantial role in shaping the choice of targets; a director's outside affiliations increase the likelihood of takeovers of non-energy firms, while the presence of outsiders on board appears to incentivize diversification into renewable energy. While acquisitions of renewable energy firms feature lower-than-average acquisition premia and generate positive short-term stock returns, they are found to exercise an overall negative short- and medium-term impact on the combined entities' operating performance. Overall, capital markets appear to attach a sizeable premium to risky deals involving renewable energy firms, possibly in expectation of wealth accrual in the long term. [ABSTRACT FROM AUTHOR]

In order to achieve the goal of a carbon neutral EU by 2050 and meet the climate targets of the Paris Agreement, a sustainable, efficient, competitive and secure energy system needs to be developed. This paper presents the synthesis of sustainable renewable energy supply networks within the EU-27, proposing a stepwise energy transition in the transport and power sectors, achieving a carbon net neutral target by 2050. A multi-period mixed-integer programming model is developed, with the objective of maximizing sustainability net present value, considering different biomass and waste resources for the production of biofuels, renewable electricity, hydrogen, food and bioproducts, employing different types of technologies. The results show that, with further development of existing technologies, the goal of a carbon-neutral EU can be achieved without compromising food production. Wind farms have proven to be the most promising solution at present for the rapid expansion of electricity generation from renewable energy sources, while the importance of solar photovoltaics is increasing over the years, reaching the 43% share of electricity generation from RES in 2050. Moreover, the energy transition within the EU could have a significant positive impact on the economic, environmental and also social aspects of sustainability, with more than 1.5 million new job opportunities created across the EU over the next 30 years. [Display omitted] • Mathematical programming approach for the transition to carbon-neutral EU by 2050. • Critical review of technologies and synthesis of renewable energy supply networks. • Sustainable multi-period selection of locations, products and types of technologies. • Large economic, eco and social benefits if optimization is carried out at EU level. • Carbon-neutral EU can be achieved through further development of technologies. [ABSTRACT FROM AUTHOR]

Aside from reducing the energy sector's negative impacts on the environment, renewable power generation technologies are creating new wealth and becoming important job creators for the 21st century. Employment creation over the duration of the global energy transition is an important aspect to explore, which could have policy ramifications around the world. This research focuses on the employment impact of an accelerated uptake of renewable electricity generation that sees the world derive 100% of its electricity from renewable sources by 2050, in order to meet the goals set by the Paris Agreement. An analytical job creation assessment for the global power sector from 2015 to 2050 is estimated and presented on a regional basis. It is found that the global direct jobs associated with the electricity sector increases from about 21 million in 2015 to nearly 35 million in 2050. Solar PV, batteries and wind power are the major job creating technologies during the energy transition from 2015 to 2050. This is the first global study presenting job creation projections for energy storage. The results indicate that a global energy transition will have an overall positive impact on the future stability and growth of economies around the world. • Global jobs in the power sector rises from 21 million in 2015 to 35 million in 2050 • Solar PV, batteries and wind power are the major job creating technologies • First global study presenting job creation projections for energy storage • Renewable energy accounts for 80% of total direct energy jobs by 2050 • Operation and maintenance jobs contribute 50% of total by 2050 [ABSTRACT FROM AUTHOR]