This paper compares renewable energy share in generation and carbon emission intensity of the Single-Buyer Model (SBM) and the Competitive Wholesale Electricity Market (WEM) in 63 emerging and developing countries. Using propensity score matching and panel data analysis, we analyze how the share of renewable energy in generation and carbon emission intensity has changed in different market models between 2010 and 2022. Results reveal that the competitive electricity market model has not outperformed the SBM in increasing renewable energy share in generation and reducing carbon emission intensity. Despite early criticisms labeling the single- buyer model as a “dangerous path” for developing countries, our results suggest that contextual factors, particularly the regulatory framework and incentive mechanisms for renewable energy investments, significantly affect outcomes. The findings emphasize the need for tailored market designs and regulatory reforms to balance efficiency, equity, and sustainability in trans
