Investments in renewable energy sources in OPEC members

Abstract

In this paper we analyze the key factors promoting the investments in renewable energy sources in a panel dataset of Petroleum Exporting Countries (OPEC) members. To address these issues, a dynamic panel analysis of renewable investments in the sample of OPEC with distinct economic and social structures, in the years between 1980 and 2009, is proposed. Results confirm that key factors promoting investments in renewable energy sources are similar to other studies which include more developed countries. However, lack of grants and/or incentives to promote the installations of new renewable power plants is a limit for the future and sustainable development of these countries.