The Influence of Institutional Factors on Sustainable Renewable Energy Policy Development: New Evidence from the Thai Experience

Abstract

Renewable energy has become the buzzword in the 21st century especially during the United Nations declarations of the Submit 21 in which world leaders renewed their efforts in achieving the seventeen sustainable development goals. One of the challenges of the developing world is achieving a reliable energy supply for industrialization and energy security. Thailand is one of the countries with the highest energy consumption within the ASEAN region and hence, several policies have been implemented to deploy a clean source of energy for both domestic and manufacturing purposes. However, there are many institutional factors that seem to impede this drive for a greener energy supply in the country. This study sought to investigate the institutional factors that support sustainable renewable energy policy development in the Thai context. The study selected 400 respondents from renewable energy producing companies in Bangkok and Ayutthaya using a survey instrument. The results were analyze using SPSS version 22.0 with multiple regression technique. The results showed that institutional variables such as stakeholder involvement, government R&D framework, regulatory procedures, and government subsidies had an influence on sustainable renewable policy development. The study recommends that future government policies should engage key stakeholders in the policy dialogue and implementation process.