Extent of global decarbonization of the power sector through energy policies and governance capacity

Abstract

During the 2007-2008 global financial crisis, many countries enacted clean energy policies as a part of their economic stimulus packages. These policies are believed to have contributed to a significant reduction in the CO<inf>2</inf> intensity of electricity. Here we conduct a retrospective overview and evaluation of energy policies’ effectiveness in reducing the CO<inf>2</inf> intensity of electricity. We utilize governance capacity as a measure of policy implementation stringency, and the interaction between governance capacity and the number of categorized policies to adjust policy variables for governance effectiveness. We distinguish between the short- and long-term effects of these policies to investigate the impacts of policy instruments on CO<inf>2</inf> mitigation. The results suggest that the increased policy efforts, when executed with effective governance, have led to long-term cumulative effects. Our findings provide insights into the spatiotemporal dynamics of energy policies in CO<inf>2</inf> mitigation, serving as a reference for policymakers in the post-COVID-19 era.