{"title":"The effect of capital markets and climate policy on low and high-carbon energy investment: Evidence from electric utilities","authors":"Christian Wilson, Gireesh Shrimali, Ben Caldecott","doi":"10.1016/j.erss.2025.104163","DOIUrl":"10.1016/j.erss.2025.104163","url":null,"abstract":"<div><div>The cost of capital and climate policy are key drivers of investment in the energy transition. However, given unique regulatory characteristics, electric utilities are often excluded from studies examining the effect of financing costs on firm investment. Furthermore, while accounting data is frequently used to measure firm investment, this is unsuitable when considering the impact of climate policy, as it does not differentiate between low- and high‑carbon energy. To address this, we deploy asset-level data to examine the effect of financing costs and climate policy on firm investment. Using the S&P World Electric Power Plant database, we find that a lower cost of debt and higher debt capital raising increases low- and high‑carbon investment by listed electric utilities firms between 2012 and 2021. Using the OECD Environmental Policy Stringency Index, we find that carbon prices and taxes directly increase low-carbon investment and act as a moderator, strengthening the relationship between debt capital raising and low-carbon investment while doing the opposite for high-carbon investment. These findings demonstrate the importance of capital markets in driving firm-level transitions and highlight how policy interventions can channel capital into low-carbon energy.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"127 ","pages":"Article 104163"},"PeriodicalIF":6.9,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144307602","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Advancing theories on the scalar complexities of Green Sacrifice Zones","authors":"Fiammetta Brandajs","doi":"10.1016/j.erss.2025.104180","DOIUrl":"10.1016/j.erss.2025.104180","url":null,"abstract":"<div><div>This article examines the concept of ‘green sacrifice’, a term coined to describe the processes through which specific territories are disproportionately affected by the extractive and deployment practices associated with green energy production, analyzed through a scalar lens. It engages in a theoretical discussion on how to conceptualize both territorial and non-territorial scales—where the latter are understood as political, non-hierarchical configurations that transcend fixed spatial boundaries—in order to navigate the tensions between localized socio-ecological sacrifices and global sustainability ambitions. Drawing on diverse theories of scale and integrating insights from political ecology, spatial theory, and energy justice, the article argues for the urgent need to re-scale socio-ecological dynamics within renewable energy transitions. It further challenges the logic of sacrifice by proposing a conceptual shift: rather than placing local territories as expendable in pursuit of global goals, it reimagines them as essential components of Earth's shared ecosystem—where global governance may need to exercise restraint to protect specific ecological and cultural systems. In response, the article offers a more nuanced and flexible understanding of scale—one capable of capturing the spatial, systemic, and political complexities of energy production transformation. By doing so, it aims to advance our understanding of how green transitions are reshaping not only territorial governance, but also the broader and uneven geographies of sacrifice.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"127 ","pages":"Article 104180"},"PeriodicalIF":6.9,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144307601","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From vision to reality: A longitudinal qualitative study on Spanish stakeholder perceptions of hydrogen energy technologies","authors":"Joaquín Navajas , Eulàlia Badia , Roser Sala , Lila Gonçalves","doi":"10.1016/j.erss.2025.104178","DOIUrl":"10.1016/j.erss.2025.104178","url":null,"abstract":"<div><div>The social perception of hydrogen is a complex and multifaceted outcome influenced by various factors, including group and social characteristics, political determinants, and historical contexts. This study analyzes the perceptions of hydrogen among key stakeholders in Spain -researchers, industry actors, government agencies, and environmental organizations-, comparing their views in 2023 with those from 2010. Through a qualitative analysis of stakeholders' interpretative repertoires and secondary sources, the study examines the evolution of these perceptions over time. It highlights how historical and social contexts influence key actors' visions, revealing tensions and shifts in their positions, particularly between public and industry actors. Additionally, the study shows how, in the Spanish context, certain barriers appear insuperable, transforming what could have been a research and development opportunity into a case of relative failure in leading a new technology. Thus, the results reveal a strong link between contextual factors and the construction of narratives about the future potential of technologies.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"127 ","pages":"Article 104178"},"PeriodicalIF":6.9,"publicationDate":"2025-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144298112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Raphael Deberdt , Angeline Letourneau , Philippe Le Billon
{"title":"Unleashing American Energy? Uncertainties in energy transition developments under a new Trump administration","authors":"Raphael Deberdt , Angeline Letourneau , Philippe Le Billon","doi":"10.1016/j.erss.2025.104169","DOIUrl":"10.1016/j.erss.2025.104169","url":null,"abstract":"<div><div>The United States (U.S.) needs critical minerals if it wants to compete with China in low-carbon and military technologies. The country is, however, caught in a dual dynamic. It needs increased critical minerals supplies but also engages in aggressive policies aimed at dismantling federal support for low-carbon products as well as establishing foreign trade barriers. This article is informed by political ecology and political economy and addresses the perceptions of economic actors involved in the critical minerals sector during the first 100 days of Donald Trump's second presidency. The U.S. efforts to develop critical minerals have relied on a flurry of administrative and legal instruments. Despite an increased production of official policies and laws in the past 15 years, we find that the 2025 political transition spurred uncertainties. Though the domestic and international landscape remains unclear, a majority of actors within the U.S. critical minerals sector maintains a positive outlook on the impacts of the Trump presidency on their industry. They underline that the new administration is likely to streamline permitting processes and consolidate Federal financial support after the appointment of pro-business and pro-energy department heads. So far, however, the neo‐illiberal turn initiated under the Biden administration and turbocharged by the Trump administration under a blunt agenda alienating many communities and traditional foreign allies has failed to produce the expected results.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"126 ","pages":"Article 104169"},"PeriodicalIF":6.9,"publicationDate":"2025-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144297736","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Matthew Cotton , Clair Cooper , Jake Milner , Lee Towers
{"title":"Hydrogen innovation and just transitions: Exploring sociotechnical configurations of energy futures in a post-industrial community","authors":"Matthew Cotton , Clair Cooper , Jake Milner , Lee Towers","doi":"10.1016/j.erss.2025.104181","DOIUrl":"10.1016/j.erss.2025.104181","url":null,"abstract":"<div><div>Hydrogen innovation is gaining political momentum to meet climate change and energy security goals. In the UK, hydrogen innovation is centred within industrial hubs including Teesside in Northeast England. This study, based on interviews with industry, policy, and public stakeholders (<em>n</em> = 14), community workshop participants (<em>n</em> = 16), and regional survey respondents (<em>n</em> = 1021) across Teesside, explores the place-based sociotechnical configurations of hydrogen governance emerging within a post-industrial community. We find that although urgency and global competition dominate policy and industry sociotechnical configurations of hydrogen innovation, at the local scale, hydrogen is valued for its potential to diversify and reinforce the fragile regional economy; one historically dependent upon petrochemical and steel industries. While hydrogen innovation is recognised for its positive economic impact, community stakeholders express concern over weak regulatory governance and the financial risks associated with early hydrogen adoption. Distrust in hydrogen industries and regulatory authorities arises due to what we term a “contagion effect” stemming from perceived poor governance across other energy and water utilities. Sociotechnical configurations related to just hydrogen transitions are tied to regional identity, with the post-industrial Northeast perceived either as a place of exploitation or as a beacon of hope for future economic renewal. Teesside is often marked by identities tied to deprivation and industrial stigma. A just hydrogen transition therefore necessitates not only recognition of local worker needs and trust-building with industrial authorities but also stronger acknowledgement of regional post-industrial and re-industrialising identities, alongside effective public representation in hydrogen decision-making.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"127 ","pages":"Article 104181"},"PeriodicalIF":6.9,"publicationDate":"2025-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144291591","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Louise-Nour Sassenou , Lorenzo Olivieri , Grégory Kotnarovsky , Danila Longo , Francesca Olivieri
{"title":"Companion modelling for energy transition: A participatory approach to design positive energy districts in Mediterranean cities","authors":"Louise-Nour Sassenou , Lorenzo Olivieri , Grégory Kotnarovsky , Danila Longo , Francesca Olivieri","doi":"10.1016/j.erss.2025.104175","DOIUrl":"10.1016/j.erss.2025.104175","url":null,"abstract":"<div><div>Climate change poses a significant threat to human well-being, making it imperative to transition from the current polluting energy model to one that aligns with the planet's ecological limits. As highlighted by numerous experts and practitioners, engaging local communities in the planning of urban infrastructure and services is essential for accelerating their deployment and fostering public acceptance. However, implementing participatory processes, especially around technical topics like energy, remains a significant challenge. This underscores the urgent need for practical tools, methods, and strategies that can effectively guide public involvement throughout the various phases of local energy planning, such as in the development of positive energy districts (PEDs).</div><div>This research seeks to address this gap by proposing an innovative participatory process designed to enhance public engagement during the modelling phase of PEDs, following the companion modelling approach. The study is structured around three key objectives. First, it establishes a theoretical framework for public participation in PED modelling, identifying good practices and effective methods. Second, it presents a novel methodology, built on existing approaches, for participatory modelling of PEDs in Mediterranean cities. Finally, it introduces a three-session participatory process that immerses stakeholders in the transformation of their district, fostering a deeper understanding and ownership of the proposed changes.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"127 ","pages":"Article 104175"},"PeriodicalIF":6.9,"publicationDate":"2025-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144298113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Powering through the storm: Assessing the resilience of electricity sociotechnical systems in typhoon-impacted coastal communities","authors":"Eireka Orlido Meregillano , Laurence L. Delina","doi":"10.1016/j.erss.2025.104172","DOIUrl":"10.1016/j.erss.2025.104172","url":null,"abstract":"<div><div>The increasing frequency and severity of extreme weather events pose significant challenges for coastal communities in typhoon-prone regions of the Philippines, particularly in maintaining reliable electricity systems. This paper investigates the interactions among hazards, vulnerabilities, and risks that characterise the sociotechnical frameworks of electricity systems in the Calamianes Islands of Palawan. We employed qualitative research methods, including interviews and focus group discussions, to illustrate how typhoons exacerbate existing vulnerabilities, resulting in heightened risks to electricity infrastructure. Our key findings indicate that additional hazards like storm surges and landslides cause substantial damage to electrical assets. Concurrently, technical vulnerabilities—such as ageing infrastructure and limitations within the workforce—intensify these impacts. Moreover, social vulnerabilities, which include household socioeconomic status and communication barriers, further complicate the resilience of these systems. Disruptions to electricity supply originate from physical damage and the interconnectedness of essential services, leading to cascading effects on community well-being. We underscore the necessity of adopting an integrated approach to disaster risk management that considers the sociotechnical dimensions of electricity systems. These insights are crucial for enhancing the resilience of electricity systems in the face of climate change and emerging challenges.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"126 ","pages":"Article 104172"},"PeriodicalIF":6.9,"publicationDate":"2025-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144279405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Old homes, new inequities: Building stock drives racial disparities in heat pump use in the United States","authors":"Xingchi Shen , Jiehong Lou , Morgan R. Edwards","doi":"10.1016/j.erss.2025.104171","DOIUrl":"10.1016/j.erss.2025.104171","url":null,"abstract":"<div><div>The unprecedented scale of the clean energy transition presents a unique opportunity to address energy injustice through adoption of new technologies. However, few studies have examined adoption disparities for heat pumps—a key decarbonization technology—and the factors driving these disparities. Using household-level data, we demonstrate that racial and ethnic minority households are less likely to use heat pumps across geographic scales from state to ZIP code. To explore potential explanations, we assess the determinants of heat pump use from household-level attributes. Our findings reveal that differences in building age—a factor relatively overlooked in previous literature—explain a much larger portion of the racial disparity in heat pump use than income and homeownership. Minority groups are more likely to reside in older buildings, even when controlling for income and wealth, and thus face higher installation costs and lower future returns. Notably, the largest racial gap in building age is found among the lowest income and wealth groups. Our results indicate that income-based subsidies or policy supports are inefficient in addressing broader social inequality in heat pump adoption. Including both building attributes and income into tiered subsidy programs could present a promising policy alternative.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"126 ","pages":"Article 104171"},"PeriodicalIF":6.9,"publicationDate":"2025-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144272285","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Carter Patrick Powers , Jay Mar D. Quevedo , Yasuko Kameyama
{"title":"International blue carbon project management: Comparing the ideographs, innovation styles, and co-impacts of Japanese blue carbon projects to western countries","authors":"Carter Patrick Powers , Jay Mar D. Quevedo , Yasuko Kameyama","doi":"10.1016/j.erss.2025.104174","DOIUrl":"10.1016/j.erss.2025.104174","url":null,"abstract":"<div><div>Blue carbon ecosystems are increasingly included in national plans to reach net zero emissions worldwide. However, despite recent studies on the sociopolitical and institutional aspects of blue carbon projects, challenges remain relating to project management. For instance, non-English speaking countries, which are underrepresented in blue carbon project studies, both show evidence of successful blue carbon project management and face issues such as insufficient local implementation of protection policies. To address this gap and improve global understanding of blue carbon project management methods, we conducted semi-structured interviews and email questionnaires to identify the typologies of ideographs, innovation styles, and co-impacts of two Japanese blue carbon projects and compare them to two western case studies analyzed using the same typologies. The results showed that Japanese case studies had high stakeholder collaboration between the national government, private corporations, and local entities and placed strong emphasis on co-benefits of restoration rather than focusing on carbon sequestration. This trend contrasts with two Western case studies that focused strongly on carbon sequestration but struggled with policy support and stakeholder inclusion. Japanese case studies showed strong institutional potential, but challenges related to carbon sequestration measurement uncertainties and environmental impacts that impeded restoration still need to be overcome. We attribute inclusion of local stakeholders and organizations to the high levels of blue carbon project implementation in Japan and recommend studies on other Japanese projects and projects in countries underrepresented in research to further understand the strengths and weaknesses of different methods and strategies to adapt to local conditions.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"126 ","pages":"Article 104174"},"PeriodicalIF":6.9,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144255493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Unlocking the transformative potential of blockchain to enhance transparency and efficiency in voluntary carbon markets for a sustainable energy transition","authors":"Caleb Kan, Laurence L. Delina","doi":"10.1016/j.erss.2025.104177","DOIUrl":"10.1016/j.erss.2025.104177","url":null,"abstract":"<div><div>This Perspective explores the transformative potential of blockchain technology within the framework of Voluntary Carbon Markets (VCMs), focusing specifically on its role in accelerating energy transition projects. With VCMs projected to reach an annual valuation of US$500 billion by 2050, their effectiveness in promoting climate action is significantly undermined by transparency, efficiency, and scalability challenges. This paper evaluates the current structures of VCMs, technological advancements, and the regulatory landscape to assess whether the intrinsic characteristics of blockchain—such as immutability, transparency, and decentralisation—can effectively address these limitations. The Perspective posits that blockchain technology presents viable solutions by implementing automated validation mechanisms, enhancing market dynamics, and improving transparency. Nevertheless, the widespread adoption of blockchain is hindered by challenges related to market maturity, energy consumption, and regulatory compliance. Ultimately, embracing blockchain technology can significantly enhance the integrity and efficiency of VCMs, positioning them as vital instruments in the global effort to combat climate change.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"126 ","pages":"Article 104177"},"PeriodicalIF":6.9,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144240041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}