Assessment of SAARC nations' solar energy potential for sustainable development

Abstract

Energy is very vital for the economic development and prosperity of any nation. Expanding a country's use of renewable energy sources can help it meet its current and future energy needs, as well as spur economic growth. Sustainable energy supply, electrification rate, population shifts, and per-capita power use affect economic development and prosperity. Electricity use is a key sign of a country's economic growth, and as the economy grows, so does the need for energy. Electricity generation relies on the availability of primary sources, implementation of technology as well as on policy imperatives. The South Asian Association for Regional Cooperation is the regional intergovernmental organization and geopolitical union of states in South Asia. Its member states are India, Afghanistan, Bhutan, Bangladesh, Nepal, Maldives, Sri Lanka, and Pakistan. SAARC countries are wealthy in natural resources, yet economic growth is a difficulty. This study aims to assess the solar energy potential of SAARC countries, which has received little attention. Prior research on solar energy possibilities in SAARC concentrated on one country or group. According to the study, SAARC countries rely heavily on imported fossil fuels and a single energy source. Renewable energy sources, especially solar energy, are important for their sustainable expansion, diversity of energy basket, energy security, and fulfilling rising electricity demand. The SAARC region has superior daily average horizontal sun irradiances than the UK and Germany, indicating untapped potential for solar photovoltaic systems. This study aims to encourage stakeholders to execute efficient solar energy governance planning for sustainable growth.

Nexus Between Urbanization, Industrialization, Natural Resources Rent, and Anthropogenic Carbon Emissions in South Asia: CS-ARDL Approach

“…The generation of electricity currently relies most heavily on fossil fuels, which can upset the delicate eco-balance that exists on our planet (Raihan and Voumik 2022a;Voumik et al 2022c). There is a ton of room for the development of solar photovoltaic systems in the SAARC region, as it has been demonstrated that the present average horizontal sun irradiances are higher there than they are in the UK and Germany (Mittal 2022). Besides, hydropower, wind power, and nuclear power may become very important for keeping the South Asian environment healthy.…”