Effectiveness of Renewable Energy Policies in Promoting Renewable Energy Development: The case of Feed-in-Tariff (FiT) and Renewable Portfolio Standard (RPS)

With the renewed global motivation to develop cleaner infrastructure technologies, particularly on energy production, and to strengthen response to the threat of climate change, several countries have adopted various policies such as feedin- tariff (FiT) and renewable portfolio standard (RPS) to promote the development of renewable energy. This paper therefore examines the effectiveness of FiT and RPS in promoting global renewable energy capacities using a panel data of 183 countries worldwide. Results suggest that, in general, FiT and RPS helps increase renewable installed capacities, both in cumulative and additional capacities, in various magnitude across different types of renewable energy sources (solar, wind, and geothermal). These findings were utilized to provide insights on potential implications in dealing with policy decisions towards a sustainable and progressive energy sector