The Belt and Road Initiative and its Implications for Global Renewable Energy Development

Abstract

Purpose of Review: This article first demonstrates the natural potential of renewable energy development in BRI countries; second, the Rising Power Framework is introduced to investigate the improvement brought by BRI for renewable energy development in host countries. Finally, the political and economic challenges as well as those caused by the COVID-19 pandemic for renewable energy development are also identified. Recent Findings: The review shows that the BRI project indeed improved the renewable energy development in host countries, while the scale of renewable energy development, especially solar and wind energy, is heavily dependent on the amount of funding; moreover, the degree of technological improvement is determined by host countries’ development needs and absorption capacity. Summary: In conclusion, this paper proposes a consideration related to the structure of energy investment under the BRI.