Breaking barriers in deployment of renewable energy

Abstract

Several economic, institutional, technical and socio-cultural barriers hinder countries from moving from the high to the low emission pathway. The objective of this research is to find out the impacts of social, economic, technological and regulatory barriers in the deployment of renewable energy. Data were collected through an online questionnaire responded to by 223 professionals working in the energy sector all over the globe. This research shows that social, technological and regulatory barriers have a strong influence on the deployment of renewable energy, while economic barriers significantly influence it indirectly. By breaking research and development-related barriers, organizations will be able to invest greatly in developing advanced technologies that can optimize usage of renewable energy and make renewable energy appear more lucrative. With less polluting and lower tariff energy solutions being made available to local people, and higher profits for manufacturers, this will create an atmosphere where all stakeholders are satisfied.