Editorial Board Members’ Collection Series: Renewable Energy Policy and Economics

Dear Colleagues,

Climate change involves national economies, with high costs for people, communities and countries, and it can reasonably be expected to be even more serious in the near future. For this reason, under the United Nations Framework Convention on Climate Change (UNFCCC), the governments of 195 countries signed a new legally binding international agreement in December 2015 at the United Nations Climate Change Conference held in Paris both to address the threat of climate change and to make decisions on how to manage it. The agreement defines a global action plan that reduces CO₂ and GHG emissions, thus limiting global warming below 2 °C.

To achieve this objective, the new treaty must put in place new policies, solutions, technologies, clean and renewable energies and financing for the decarbonisation of the global economy. It requires more prevention actions, structural policies and a serious commitment to reduce CO₂ emissions in order to achieve climate neutrality in the second half of the century. The production and use of energy accounts for more than 75% of the EU’s greenhouse gas emissions. Decarbonising the EU’s energy system is therefore critical to reach our 2030 climate objectives and the EU’s long-term strategy for achieving carbon neutrality by 2050. The energy transition must shift from an energy mix based on fossil fuels to one that produces very limited, if not zero, carbon emissions, based on renewable energy sources. A large contribution to decarbonization also derives from other sectors, such as cleaner transport and improved energy efficiency. The objectives of the European Commission toward achieving a sustainable energy transition are as follows (https://ec.europa.eu/):

• Construct interconnected energy systems to support renewable energy sources;
• Encourage innovative technologies;
• Increase energy efficiency;
• Decarbonise the gas sector and support smart integration across sectors;
• Promote EU energy standards and technologies at a global level;
• Develop the full potential of Europe’s offshore wind energy.

The energy transition must be inclusive, and it must be ensured that no one is left behind. Decarbonisation can provide benefits not only for the climate but also for the economy and society, and has the potential to open the way for new services for consumers. Developing RES is the very core of the energy transition. Targeting renewable sources entails making profound changes to the current setup of the energy industry, in order to move towards a system that is increasingly more geographically scattered, technologically advanced and able to handle power generation and demand spread over a wide geographical area. The desired system would be one that reduces the energy production chain, creates electricity and power directly from renewable sources (sun, wind, geothermal and others) and would gradually allow small users to become increasingly self-sufficient and thus become less dependent on large installations generating and distributing energy.

The challenge lies in making environmental and energy objectives converge, and the overall success of future energy policy will be to demonstrate that economic growth, an assured energy supply and environmental protection are compatible goals. Although some technologies exploiting renewable energy sources (RES) have reached a certain maturity, there are numerous hurdles to their market penetration. It is fundamental to kick-start the launch of RES in order to accelerate and increase their market share. This strategy would favour the creation of economies of scale and, consequently, reduce costs.

Developments in new sectors such as tidal power, green hydrogen energy and storage technologies may soon contribute to the transition. Speeding up renewables permissions is decisive to minimise the time for the roll-out of renewable projects and grid infrastructure improvements.

This Special Issue hosts high-quality papers on renewable energy policies, plans and technologies.

Prof. Dr. Fausto Cavallaro
Prof. Dr. Isabel Soares
Prof. Dr. Ishaq Bhatti
Guest Editors

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