1. Energy transition dynamics amid policy uncertainty, environmental regulations, and Geopolitics: Evidence from China.
- Author
-
Dogah, Kingsley E., Lan, Hao, and Zhao, Sheng
- Subjects
- *
ENVIRONMENTAL regulations , *RENEWABLE energy transition (Government policy) , *CLEAN energy , *ENERGY consumption , *ENERGY policy - Abstract
The time-varying dynamics of the transition to renewable energy reflect the effectiveness and efficiency of energy policy. This paper investigates renewable energy transition behavior in China using Markov regime-switching models. Two distinct phases, expansion and contraction, are identified based on the growth rates of renewable energy consumption share. We find that since China started its new-energy national strategy in 2005, there has been an extended period in which it has been in the expansion state, although it occasionally reverts to a contraction state. Intriguingly, we uncover that the timing of transition state changes can be explained by the changes in policy-related, market-based instruments and risk-related indexes. These findings present implications for policymakers in developing more precise and effective policies, that drives investment choices to align with the goal of a sustainable energy system. [Display omitted] [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF