Green Lights: Political Influences behind Renewable Energy Investments

• In Event: Energy Policy and Politics

Abstract

The role of the green movement has become increasingly visible and politicized amid crucial and urgent global questions on climate change and the need for sustainable energy sources. In response, we highlight that democracies have seen changes within their domestic policies with regards to greater politically, socially, and environmentally supportive and resilient systems for technological and energy-centric innovation. In this paper, we analyze the influence of green parties as they enter democratic governments’ parliaments and their impact on decision-making and policies by providing both greater political pressure and reliance on scientific expertise. Specifically, we argue and find statistically significant results that green parties help drive government public investment in the research and development of renewable energy, building greater infrastructure and processing capabilities to help the transition from fossil fuels. We analyze panel data on 19 OECD countries across 20 years and use focused case studies to demonstrate successful impacts by green parties on governmental investments and policies about environmental issues and renewable energy sources.

Authors

• Aleksandra Gracheva, Columbia University

• Anastasia Gracheva, Wharton School, University of Pennsylvania