One strong belief across various energy transition strategies in several countries is the principle of ‘letting markets work.’ By conducting the energy transition through markets, governments often expect that competition and entrepreneurship will lead to the emergence of new actors, technologies, and patterns capable of ‘unlocking’ what was previously inaccessible. Markets are seen as way to fix the energy transition in a single step. However, in practice, it becomes evident that as countries advance in their energy transition and renewables take on a significant share, markets become increasingly complex with multiple dimensions. The ‘letting markets work’ principle proves insufficient to address the nuanced challenges of the energy transition effectively. In this presentation, we explore this concept through empirical lessons drawn from the Chilean context.
About the Speaker
Dr. Shahriyar Nasirov. Dr. Nasirov holds a PhD in Economics and Policies and has over 15 years of interdisciplinary research experience in the energy industry, primarily in Europe and Latin America. Currently, he is a visiting professor at the Waterloo Institute for Sustainable Energy (WISE) at the University of Waterloo. Additionally, he serves as an Associate Research Professor at the Center for Energy Transition (CENTRA UAI) at Universidad Adolfo Ibáñez (UAI) in Chile. Dr. Nasirov led the creation of the Executive Master’s Program in Technologies and Management of Renewable Energies (MERE) and served as its first director. Previously, he was a visiting PhD researcher at the Department of East Asia (Energy Division) of the Asian Development Bank (ADB) in Manila, Philippines.
