Harnessing renewable energy sources: Inclusion of net-zero industry for climate change mitigation

Purpose: Economists and governments worldwide are largely concerned about sustainability, CO₂ footprint and climate change, which are mostly caused by fossil fuel emissions. This study aims to provide an in-depth analysis of the significant role played by renewable energy (RE) sources in generating clean energy for achieving sustainable net-zero standards and mitigating climate change. 

Methodology: A thorough review of literature was conducted on the topic to provide insights into the existing state about the adoption of RE sources to achieve the net-zero goals. 

Findings: As a result of the extensive review, it is found that all forms of RE, such as hydropower, solar energy, wind energy, bioenergy and geothermal power, are currently being used in many countries. Also, application of these sources across various sectors and their environmental consequences also vary for each RE source. 

Implications: This chapter emphasises that adoption of RE sources is crucial to reduce the usage of limited fossil-based natural resources, which have significant negative effects on the environment. The adoption of RE at large scale requires the implementation of new regulations and policies along with technological progress for enhancing the affordability and effectiveness of these sources. 

Originality: This chapter provides compelling evidence to support the acceleration of the transition from a vulnerable fossil fuel–dependent economy to a sustainable low-carbon one, with RE sources playing a central role.