Green Energy Entrepreneurship: Emerging Business Models for Decentralized Renewable Power in Developing Economies

Abstract

Decentralized renewable energy (DRE) systems are becoming a vital part of solving energy access issues and fostering sustainable development in developing countries. In this discussion, we explore how different legislative, economic, and entrepreneurial frameworks can help expand the reach of DRE technologies. We place particular emphasis on the importance of public-private partnerships, innovative business models, and targeted investment strategies that cater to local markets. Despite these hurdles, tremendous opportunities are waiting to be tapped. Creative financing options, community-driven energy projects, and investments focused on climate solutions can all play a crucial role. The transition to renewable energy not only has the potential to create jobs and bolster economic resilience but also to empower youth and communities through skill development and entrepreneurial ventures. Educational institutions and collaborative stakeholder efforts need to step in and help bridge the skills gap, driving inclusive growth. Ultimately, we conclude that a comprehensive and integrated approach, one that combines supportive legislation, financial innovation, and grassroots involvement, is essential for unlocking the full potential of decentralised renewable energy systems. By pursuing these initiatives, we can move toward a just and equitable energy transition that contributes to climate resilience and sustainable development, particularly in the Global South. Significance: Empowering communities through decentralized renewable energy fosters climate resilience, economic growth, job creation, and equitable access in developing regions.