Study on the international competitiveness of geothermal energy products in regional comprehensive economic partnership (RCEP) agreement countries

Abstract

Renewable energy usage has entered a research boom, and the exceptional use of geothermal energy in urban heating and power generation has garnered the interest of an increasing number of nations. Regional Comprehensive Economic Partnership Agreement (RCEP) countries have launched new cooperation to promote the green recovery of the regional economy, which has prompted new demands for the integration and upgrade of existing environmental resource cooperation platforms in the region, and the development of geothermal energy has greater strategic significance for RCEP nations. Using the constant market share model and innovative revealed comparative advantage index method, this article measures and analyzes the changing trend of international competitiveness of geothermal energy products in RCEP nations. The findings of this study indicate that (1) the comparative advantages of geothermal energy products in RCEP countries are insufficient; (2) structural effects have negative effects on export growth; (3) competitiveness is an important factor in promoting export trade; and (4) second-order effects have a greater impact on exports. Based on the aforementioned research findings, this article proposes appropriate countermeasures.