02-02-24 | Odunayo Adewunmi Adelekan, Bamidele Segun Ilugbusi, Olawale Adisa, Ogugua Chimezie Obi, Kehinde Feranmi Awonuga, Onyeka Franca Asuzu, & Ndubuisi Leonard Ndubuisi
The paper "Energy Transition Policies: A Global Review of Shifts Towards Renewable Sources" by Odunayo Adewunmi Adelekan et al. provides a comprehensive review of the global shift towards renewable energy sources. It explores the motivations, policy frameworks, technological advancements, and socio-economic implications of this transition. The authors highlight the urgent need to address climate change, enhance energy security, and promote sustainable development, driven by environmental concerns, economic competitiveness, and energy security. The paper examines diverse policy initiatives, regulatory mechanisms, and financial incentives adopted by countries worldwide, including ambitious targets, feed-in tariffs, carbon pricing, and public-private partnerships. It also discusses the technological advancements in solar, wind, geothermal, and hydroelectric power, emphasizing the role of government funding and international collaboration in driving innovation. The socio-economic impacts of the energy transition are analyzed, focusing on job creation, workforce transitions, and community development. The paper concludes with recommendations for strengthening international collaboration, harmonizing policies, and ensuring inclusivity and long-term commitments to achieve a sustainable and resilient energy future.The paper "Energy Transition Policies: A Global Review of Shifts Towards Renewable Sources" by Odunayo Adewunmi Adelekan et al. provides a comprehensive review of the global shift towards renewable energy sources. It explores the motivations, policy frameworks, technological advancements, and socio-economic implications of this transition. The authors highlight the urgent need to address climate change, enhance energy security, and promote sustainable development, driven by environmental concerns, economic competitiveness, and energy security. The paper examines diverse policy initiatives, regulatory mechanisms, and financial incentives adopted by countries worldwide, including ambitious targets, feed-in tariffs, carbon pricing, and public-private partnerships. It also discusses the technological advancements in solar, wind, geothermal, and hydroelectric power, emphasizing the role of government funding and international collaboration in driving innovation. The socio-economic impacts of the energy transition are analyzed, focusing on job creation, workforce transitions, and community development. The paper concludes with recommendations for strengthening international collaboration, harmonizing policies, and ensuring inclusivity and long-term commitments to achieve a sustainable and resilient energy future.