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Evaluating natural resources volatility in an emerging economy: The influence of solar energy development barriers

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  • Liang, Jinhao
  • Irfan, Muhammad
  • Ikram, Muhammad
  • Zimon, Dominik

Abstract

Utilizing natural resources aids in China's efforts to overcome its current energy issues. However, the country's ability to fulfill the rising energy demand is hindered by the instability of its natural resources. Multiple barriers to this failure have been identified by researchers. However, little is known about how these barriers affect the volatility of natural resources. In order to solve this research gap, the current work has used a systematic approach for ranking barriers according to their significance. Initially, we identified these barriers based on a comprehensive literature review and the modified Delphi method. Twenty-nine barriers were identified, which were subsequently grouped into six major dimensions, including technological, transparency & accountability, COVID-19, financial, policy & regulatory, and infrastructure. Secondly, using the Analytical Hierarchical Process (AHP), the relative weights and ranks of major barriers and sub-barriers were calculated. The results demonstrate that the “technological” barrier is the highest-ranked barrier, while “unreliable local technology” rates highest among all sub-barriers. Finally, we took an additional step by utilizing the Grey Preference by Similarity to Ideal Solution (G-TOPSIS) method to rank the alternatives. The results indicate that “R&D″ and “corruption-free system” are the most viable alternatives for overcoming these barriers. Research findings emphasize ensuring the availability of a skilled workforce, reforming policy structure, developing infrastructure, improving R&D activities, and highlighting the paybacks that solar energy offers to preserve natural resources by integrative and consistent efforts.

Suggested Citation

  • Liang, Jinhao & Irfan, Muhammad & Ikram, Muhammad & Zimon, Dominik, 2022. "Evaluating natural resources volatility in an emerging economy: The influence of solar energy development barriers," Resources Policy, Elsevier, vol. 78(C).
    • Handle: RePEc:eee:jrpoli:v:78:y:2022:i:c:s030142072200304x
    DOI: 10.1016/j.resourpol.2022.102858
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