Barriers to renewable energy expansion.
|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
|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
|Lack of standards, codes and certifications
|Lack of qualified personnel / training facilities
|Lack of Operation & Maintenance facilities
|Lack of entrepreneurs
|6. Social, Cultural, and Behavioral
|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 .
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