Table 3

Barriers to renewable energy expansion.

Barrier Category Barriers
1. Market Failure / Imperfection Highly controlled energy sector
Lack of information and knowledge
Restricted access to technology
Lack of competition
High transaction costs
Lack of market infrastructure
High investment requirements
2. Market Distortions Favoring conventional energy (subsidies) or lack of subsidies for renewable energy.
Taxes on renewable energy
Non-accountability of externalities
Barriers to Trade
3. Economic and Financial Not economically feasible
High discount rates
High payback period
Small market size
High cost of capital
Lack of access to capital
Lack of access to consumer credit
High initial capital cost for investors
Lack of financial institutions to finance renewable energy
4. Institutional Lack of institutions / mechanisms to disseminate information
Lack of legal/regulatory framework
Problems in the realization of financial incentives
Unstable macroeconomic environment
Lack of stakeholder involvement in decision making
Clash of interests
Lack of Research and Development culture
Lack of private sector participation
Lack of professional institutions
Lack of political desire by the elected government
5. Technical Lack of standards, codes and certifications
Lack of qualified personnel / training facilities
Lack of Operation & Maintenance facilities
Lack of entrepreneurs
System restrictions
6. Social, Cultural, and Behavioral Unreliable product
Lack of consumer acceptance of the product
Lack of social acceptance for some renewable energies
7. Other Barriers Uncertainty of government policies, such as incentives
High-risk perception of renewable energies
Lack of infrastructure

Source: Painuly [11].

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