Editorial: Economics and policies in formulating renewable power development plans

Energy production is considered as the pillar of the national security and foundation of the economy (Li and Wang). Fossil fuel consumption leads to serious climate change and environmental pollution issues that results from carbon emissions and pollutants. Hence, renewable energy has been considered as an effective way to ameliorate these issues. Multiple international organizations such as the Intergovernmental Panel on Climate Change (IPCC) have invested a lot of effort to coordinate the benefits of countries. However, several countries, including developed and developing countries, have initiated certain policies to mitigate climate change and reduce carbon emissions. Consequently, increasing preferential policies are being formulated to accelerate the development of renewable power (Zhu and Jin). Energy security affected by the bottleneck of crude oil supply and the global issues ensuing from the fossil energy consumption are two compelling reasons for the rapid development of renewable energy (Liu et al.). In the past decades, the share of renewable energy in the energy mix has been steadily increasing, which indicates that the development and utilization of renewable energy has become the consensus policy of several nations.