Open Access
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 |
| Environment | |
| High-risk perception of renewable energies | |
| Lack of infrastructure |
Source: Painuly [11].
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