Overview of policy and market dynamics for the deployment of renewable energy sources in Italy: Current status and future prospects

Abstract

In recent years, the international community has been strongly committed to promoting energy transition due to the various challenges presented by the global energy market. In this context, renewable sources have increasingly assumed a significant role, representing a viable solution to accelerate decarbonization and promote diversification of energy mix. This paper examines Italian energy profile, its status, and future prospects. Policies and incentives on a European and national scale have been analysed to observe the commitment of institutions in promoting energy transition. Policies and incentives on a European and national scale have been analysed to observe the commitment of institutions in promoting energy transition. Projections on future investments (2030) and economic and employment implications have also been provided. The analysis shows that shared investments are essential to achieve climate goals in the short term and that existing plants need to be converted through the use of new, more effective, cost-efficient technologies. Thus, innovation and investments in research and development are key drivers of energy transition, and with proper management, climate change mitigation can be ensured. The analysis provides some useful implications for policymakers who should ensure tax incentives, feed-in tariffs, and clear regulation at the national and regional levels that do not hinder the deployment of renewable energy infrastructure.

Keywords

• Energy
• Renewable energy resources
• Investments
• Sustainability
• Energy economics