THE GROWTH AND CHALLENGES OF NEW ENERGY PROJECTS

Abstract

In recent years, the global energy system has undergone a profound transformation, with the development of new energy projects emerging as a crucial measure to address climate change and achieve sustainable development. As traditional fossil fuels are depleted and environmental issues become increasingly severe, new energy has been widely recognized as a vital component of future energy supply across nations. New energy projects have been shown to contribute to the reduction of greenhouse gas emissions, while also driving economic growth and technological innovation. Nevertheless, despite substantial progress in technology, policy, and market aspects, the development of new energy projects continues to confront a multitude of challenges.Presently, new energy projects have garnered widespread attention and active promotion on a global scale. Numerous countries have instituted policies to promote the development of new energy sources, including subsidies, tax incentives, and renewable energy targets. Technological advancements have led to enhanced efficiency and reliability in new energy projects, accompanied by a steady decline in costs. However, extant research suggests that the development of new energy projects still faces multiple challenges, including an imperfect legal system, high financing costs, fierce market competition, and high technological barriers. Furthermore, the evaluation system for investment benefits in new energy projects remains underdeveloped, exhibiting a dearth of comprehensive and scientific assessment methodologies.