Abstract
Renewable energy (RE) is a vital stream of the global energy transition toward sustainable alternatives. Various mitigation strategies, such as enhancing energy efficiency, utilizing fuel switching, deploying nuclear power and adopting carbon capture, have been developed. Of these, RE has captured the most attention globally, especially in the power sector. Despite this global trend, however, RE penetration differs significantly across countries. Some countries, such as Denmark, generate half of their power from renewable resources. In contrast, many others, such as Russia, are generating less than 1% of their power from renewable resources as of 2018. These data facts raise the important question of whether this heterogeneity in RE penetration reflects countries’ potentials.
