Towards Green Economy: Case of Electricity Generation Sector in Libya

Abstract

Libya is primarily concerned with the green economy as it relies on a single source of national income and a single source of energy. It loses its national income source as industrial countries abandon fossil fuels and replace them with environmentally friendly alternative energy sources. Therefore, Libya must begin the battle for green economy transformation, and policymakers need to develop strategies for a rapid and safe transition to sustainable green development. This research outlines the basic framework for green economy transition strategies by reviewing other countries’ experiences and theoretical studies. It proposes a temporal and financial transformation plan that includes three paths to achieve the green economy transition. The first path involves reducing emissions by using natural gas instead of oil fuel and introducing carbon capture systems in polluting systems. The second path suggests increasing the contribution of zero-emission technologies in the energy mix, such as solar energy, wind energy, and hydrogen.