In this technical report, the Global Green Growth Institute (GGGI) explains approaches to promoting a green energy transformation, such as applying green growth policies and plans and implementing and financing scalable green energy projects and programs.
GGGI has identified several critical issues for the successful transition to a green growth model of development. Sustainable energy is central to a green transformation, and the sustainable energy disruption is in progress. Countries have an opportunity to seize the dynamic changes underway in energy markets, as renewable energy, particularly solar and wind, is becoming the cheapest form of power generation in many countries. Combined with renewable energy, improving energy efficiency reduces the overall effort required from energy supply measures and contributes significantly to spurring economic growth and reducing GHG emissions. The deployment of decentralized sustainable energy systems offers communities new access to electricity, bringing the chance to enhance economic opportunities and social development, without having to wait for grid connection. More robust policy, planning and regulatory frameworks are needed to increase the adoption of and investment in clean energy. GGGI offers this support to several countries, including Cambodia, Ethiopia, Fiji, Guyana, Indonesia, Lao PDR, Mongolia, Nepal, Senegal, Vanuatu, and Viet Nam.
The report concludes that strong political commitment remains critical for phasing out fossil fuel-based power generation. Countries must align their power development plans with their NDC targets, increase the role of renewables in the electricity mix, and reduce fossil fuels in the power sector.