Understanding the Dynamics of Renewable Energy Transition: Country Performance and Potential

Initiative Electricity Sector Transitions
Type Commentary
Date 11 May 2022

Battery storage
Benefits of electricity trade
Business models
Climate change
Consumer behavior
Decentralized supply
Demand Response
Demand-side management
Digitalization
Distributed generation
Efficient consumption
Electricity
Electricity demand growth
Electrification
Energy efficiency
Energy mix
Energy security
Enregy transitions
Fuel costs
General Equilibrium models
Green Bonds
Grid flexibility
LCOE
Liquid Fuels
Market design
Market Reforms
Natural Gas Demand
Network regulations
New regulations
Policy
Price reforms
Public-private partnerships
Reliability
Renewable energy
Seasonality in demand
Smart grid
Smart meters
Solar PV
Stranded assets
Sustainable finance
Sustainable investment
System flexibility
Technological disruptions
Temperature
Transition risks
Wind Power

Abstract

Renewable energy (RE) is a vital stream of the global energy transition toward sustainable alternatives. Various mitigation strategies, such as enhancing energy efficiency, utilizing fuel switching, deploying nuclear power and adopting carbon capture, have been developed. Of these, RE has captured the most attention globally, especially in the power sector. Despite this global trend, however, RE penetration differs significantly across countries. Some countries, such as Denmark, generate half of their power from renewable resources. In contrast, many others, such as Russia, are generating less than 1% of their power from renewable resources as of 2018. These data facts raise the important question of whether this heterogeneity in RE penetration reflects countries’ potentials.

Authors

Fatih Yılmaz

Senior Research Associate Dr. Yilmaz is a senior research associate in the Energy Transitions and Electric Powerprogram. His current research agenda aims to… Dr. Yilmaz is a senior research associate in the Energy Transitions and Electric Powerprogram. His current research agenda aims to enhance our understanding of the financial and economic consequences of the global energy transition towards renewables, and to design effective policies to balance financial risks and growth prospects. Prior to joining KAPSARC, Dr. Yilmaz had worked as an economist in the Structural Economic Research Department of the Central Bank of the Republic of Turkey, where he actively involved in the research and the design of policies for the private and banking sectors. He had also worked as a consultant for the World Bank and took responsibilities in various consulting projects for the Canadian and Turkish Governments. As an academic, he had spent a year as an assistant professor at the ADA University and worked as a graduate assistant at the University of Calgary and at the Western Illinois University, where he had taught several courses in economics and econometrics. Dr. Yilmaz has authored various academic and policy articles, and book chapters in the past. He has involved in the organization of conferences and workshops, and acted as a referee for many academic journals.

Expertise