Renewable Energy Policies and Global Socioeconomic Impacts: A Comparative Study of Policy Implementation and Outcomes

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@article{1706653,
      author = {Precious Oluwaseun Okedele, Onoriode Reginald Aziza, Portia Oduro, Akinwale Omowumi Ishola},
      title = {Renewable Energy Policies and Global Socioeconomic Impacts: A Comparative Study of Policy Implementation and Outcomes},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {8},
      number = {6},
      pages = {239-251},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1706653.pdf},
      abstract = {The global transition to renewable energy is not only an environmental imperative but also a critical driver of socioeconomic transformation. This study presents a comparative analysis of renewable energy policies and their socioeconomic impacts across different regions. By examining policy frameworks in developed, emerging, and developing economies, the research investigates the effectiveness of renewable energy policies, such as subsidies, tax incentives, and renewable portfolio standards, in driving clean energy adoption and fostering economic growth. The analysis highlights key factors, such as political stability, policy continuity, and investment climate, which influence policy outcomes. The study also explores the broader socioeconomic implications, including employment generation, energy accessibility, and poverty alleviation. Furthermore, it evaluates challenges such as energy inequality, economic disparity, and unintended consequences on local communities. By identifying best practices and lessons learned from diverse geopolitical contexts, the research provides policy recommendations aimed at enhancing the positive impacts of renewable energy policies and mitigating adverse effects. This work contributes to the broader discourse on sustainable development by emphasizing the need for adaptive, inclusive, and equitable policy frameworks to support the global energy transition.},
      keywords = {Socioeconomic Impacts, Comparative Analysis, Policy Implementation, Economic Growth, Employment Generation.},
      month = {December},
  }