Influence of the EU Circular Economy Action Plan on Turkey's Energy Policy and Investments in Renewables

Abstract

The European Union Circular Economy Action Plan is a new enactment but rapidly growing to transform EU economies into more sustainable sources and surroundings adopting measures that include renewable energy investments and low carbon strategy. As the world still faces huge environmental changes and climate problems, energy remains the major issue for both economic and ecological sustainability. Low carbon energy strategy is the main target for EU circular economy enforcing renewable energy sources which are healthy, clean, and cheap. In this chapter, circular energy act and its development in Turkey are explored and questioned. The study emphasizes the great potential of renewables in Turkey and shows that there is still much to be done to transform the energy market in order to adopt circular economy in the future. Barriers of economic risks and lack of cultural awareness strongly challenge the progress of Turkey in energy solutions. And more than that, those problems trigger the financial concerns limiting the future energy projects.