Renewable Energy and Sustainability - Chapter 14: Climate change, sustainability, and renewable energy in developing economies

This chapter aims to present the nexus among renewable energy, challenges of climate change, and sustainability in developing economies. These economies are contributing significantly to global economic growth by using mostly low-cost nonrenewable energy, which is causing a detrimental impact on the environment and triggering climate change through emitting CO2 to the atmosphere. Since developing economies are affected heavily by climate-induced disasters, they might be able to mitigate climate change through a rapid transition toward low- to no-carbon renewable energy technologies. This chapter presents a detailed account of the production of renewable energy by category in developing economies and portrays their geospatial distribution across the world. It discusses the potential of transition from nonrenewable to renewable energy to promote sustainable development and help mitigate the adverse impacts of climate change. It also explains the challenges and prospects of adopting various renewable energy technologies. Finally, it suggests recommendations on the incentives and investment in research and development, market expansion, and the government's pro-active fiscal and monetary policy support to facilitate the rapid expansion of renewable energy in developing economies.