The digital revolution and energy efficiency – A roadmap for transforming the energy supply chain through green policy planning

Abstract

Transitioning to renewable energy sources and green technologies is crucial for achieving global climate goals and sustainable development. Using policy developments, investments, and technological advancements from 1999 to 2021, this study develops a roadmap for transforming the energy supply chain through adopting green technologies in selected International Energy Agency (IEA) countries. The findings suggest that there has been a significant shift towards green technologies in the energy supply chain of the IEA countries. The adoption of renewable energy sources, such as solar and wind power, has increased exponentially during this period. Additionally, there has been a growth in energy storage technologies, enabling the integration of intermittent renewable energy sources into the power grid. Moreover, the findings highlight the importance of policy interventions to facilitate this transition. The introduction of favorable regulatory frameworks, subsidies, and incentives has encouraged investment in green technologies and promoted their deployment. Establishing renewable energy targets and carbon pricing mechanisms has also played a significant role in adopting cleaner energy sources. The implications of the study for IEA member countries are profound. The findings underscore the need for member countries to continuously update their energy policies to align with the evolving energy landscape. This includes promoting the integration of renewable energy sources into the energy mix, investing in research and development of emerging technologies, and coordinating efforts at a regional or international level.