Economic Effects of Renewable Energy Technologies

Open access

Abstract

Rapid economic development has resulted in the more frequent use of renewable energy technologies. On the other hand, the production and use of renewables fosters the development of new technologies, creating many new opportunities for entrepreneurial-minded individuals and, consequently, the economy in general. Renewable energy technologies have a multiplier effect in spurring the economy and the development of not only the energy sector but also all the supporting activities related to such industry. The purpose of this research is to analyse both the positive and the negative economic effects of investing in various renewable technologies, as well as to confirm, by means of the energy-economy model, the benefit of such technologies in boosting the economy.

Armstrong, A. J., & Hamrin, J. (2000). The renewable energy policy manual. United States Export Council for Renewable Energy, Washington. Retrieved from https://www.oas.org/dsd/publications/Unit/oea79e/oea79e.pdf

Borhanazad, H., Mekhilef, S., Saidur, R., & Boroumandjazi, G. (2013). Potential application of renewable energy for rural electrification in Malaysia. Renewable Energy, 59, 210-219. https://doi.org/10.1016/j.renene.2013.03.039

Carley, S. et al. (2011). Energy-based economic development. Renewable and Sustainable Energy Reviews, 15(1), 282-295. https://doi.org/10.1016/j.rser.2010.08.006

DeCarolis, J. F., Hunter, K., & Sreepathi, S. (2012). The case for repeatable analysis with energy economy optimization models. Energy Economics, 34(6), 1845-1853. https://doi.org/10.1016/j.eneco.2012.07.004

Dong, J., Chi, Y., Zou, D., Fu, C., Huang, Q., & Ni, M. (2014). Energy-environment-economy assessment of waste management systems from a life cycle perspective: Model development and case study. Applied Energy, 114, 400-408. https://doi.org/10.1016/j.apenergy.2013.09.037

Ecotec (2002). Renewable energy sector in the EU: Its employment and export potential. A Final Report to DG Environment, Birmingham. Retrieved from http://ec.europa.eu/environment/enveco/eco_industry/pdf/ecotec_renewable_energy.pdf

EEA (2014). Energy support measures and their impact on innovation in the renewable energy sector in Europe. European Environment Agency, Technical report, No. 21, Copenhagen. Retrieved from http://www.eea.europa.eu/publications/energy-support-measures

Energy Modeling Forum (1977). Energy and the economy. EMF Report 1, Volumes 1 and 2, Stanford. Retrieved from https://web.stanford.edu/group/emf-research/docs/emf1/emf1vol1+2.pdf

Fankhauser, S., Sehlleier, F., & Stern, N. (2008). Climate change, innovation and jobs. Climate Policy, 8(4), 421-429. https://doi.org/10.3763/cpol.2008.0513

Hedenus, F., Johansson, D., & Lindgren, K. (2013). A critical assessment of Energy-economy-climate models for policy analysis. Journal of Applied Economics and Business Research, 3(2), 118-132.

IEA RETD TCP (2016). Revitalisation of local economy by development of renewable energy: Good practices and case studies (REvLOCAL). IEA Renewable Energy Technology Deployment Technology Collaboration Programme (IEA RETD TCP), Utrecht. Retrieved from http://iea-retd.org/documents/2016/09/revlocal-summary-report.pdf

IRENA (2016). Renewable energy and jobs - Annual review 2016. IRENA, Abu Dhabi. Retrieved from http://www.irena.org/Document-Downloads/Publications/IRENA_RE_Jobs_Annual_Review_2016.pdf

IRENA (2015). Renewable energy options for the industry sector: Global and regional potential until 2030 - A background paper to “Renewable energy in manufacturing”. IRENA, Abu Dhabi. Retrieved from http://www.irena.org/remap/IRENA_RE_Potential_for_Industry_BP_2015.pdf

IRENA (2014). Renewable energy in manufacturing - A technology roadmap for REmap 2030. IRENA, Abu Dhabi. Retrieved from https://www.irena.org/remap/IRENA_REmap%202030%20Renewable-Energy-in-Manufacturing.pdf

Kavrakoğlu, İ. (1987). Energy policy: modelling and analysis. Mathematical Modelling, 9(9), 659-667. https://doi.org/10.1016/0270-0255(87)90467-2

Labudović, B. et al. (2002). Obnovljivi izvori energije. Energetika marketing, Zagreb.

Llera, S. E. et al. (2010). Local impact of renewables on employment: Assessment methodology and case study. Renewable and Sustainable Energy Reviews, 14(2), 679-690. https://doi.org/10.1016/j.rser.2009.10.017

Manne, A. S., Richels, R. G., & Weyant, J. P. (1979). Feature article - Energy policy modeling: A survey. Operations Research, 27(1), 1-36. https://doi.org/10.1287/opre.27.1.1

Meyer, I., & Sommer, M. W. (2014). Employment effects of renewable energy supply - A meta analysis. WWW for Europe Policy Paper series, No. 12. Retrieved from http://www.wifo.ac.at/jart/prj3/wifo/resources/person_dokument/person_dokument.jart?publikationsid=47225&mime_type=application/pdf

Nakata, T. (2004). Energy-economic models and the environment. Progress in Energy and Combustion Science, 30(4), 417-475. https://doi.org/10.1016/j.pecs.2004.03.001

Nanda, N. et al. (2015). Assessing economic, social and environmental benefits of renewable energy in India. Policy Analysis on Growth and Employment, The Energy and Resources Institute, New Delhi. Retrieved from https://www.pep-net.org/sites/pep-net.org/files/typo3doc/pdf/files_events/2015_kenya_conf/MPIA_12806.pdf

OECD (2011a). Energy. OECD Green Growth Studies, Paris. Retrieved from https://www.oecd.org/greengrowth/greening-energy/49157219.pdf

OECD (2011b). Towards green growth: A summary for policy makers. OECD, Paris. Retrieved from http://www.oecd.org/greengrowth/48012345.pdf

OECD (2011c). Towards green growth: Monitoring progress. OECD, Paris. Retrieved from http://www.oecd.org/greengrowth/48224574.pdf

OECD (2009). Green growth: Overcoming the crisis and beyond. OECD, Paris. Retrieved from https://www.oecd.org/env/43176103.pdf

Omri, E., Chtourou, N., & Bazin, D. (2015). Rethinking the green recovery through renewable energy expansion. International Journal of Sustainable Development, 18(1/2), 59-76. https://doi.org/10.1504/IJSD.2015.066787

Ormerod, R. J. (1980). Energy models for decision making. European Journal of Operational Research, 5, 366-377. https://doi.org/10.1016/0377-2217(80)90123-X

Rader, N. A., Norgaard, R. B. (1996). Efficiency and sustainability in restructured electricity markets: The renewables portfolio standard. The Electricity Journal, 9(6), 37-49. https://doi.org/10.1016/S1040-6190(96)80262-4

REN21 (2013). Renewables 2013 Global Status Report, Renewable energy policy network for the 21st century. REN21 Secretariat, Paris. Retrieved from http://www.ren21.net/Portals/0/documents/Resources/GSR/2013/GSR2013_lowres.pdf

Samouilidis, J.-E., & Mitropoulos, C.S. (1982). Energy-economy models: A survey. European Journal of Operational Research, 11(3), 222-232. https://doi.org/10.1016/0377-2217(82)90246-6

Sedlacko, M., & Gjoksi, N. (2009). Sustainable development and economic growth: Overview and reflections on initiatives in Europe and beyond. European Sustainable Development Network, ESDN Quarterly Report. Retrieved from http://www.sd-network.eu/quarterly%20reports/report%20files/pdf/2009-December-Sustainable_development_and_economic_growth.pdf

Simas, M., & Pacca, S. (2013). Socio-economic benefits of wind power in Brazil. Journal of Sustainable Development of Energy, Water and Environment Systems, 1(1), 27-40. https://doi.org/10.13044/j.sdewes.2013.01.0003

Sreeraj, E. S., Chatterjee, K., & Bandyopadhyay, S. (2010). Design of isolated renewable hybrid power systems. Solar Energy, 84(7), 1124-1136. https://doi.org/10.1016/j.solener.2010.03.017

Tarjanne, R., & Kivistö, A. (2008). Comparison of electricity generation costs. Lappeenranta University of Technology, Faculty of Technology, Department of Energy and Environmental Technology, Research Report EN A-56. Retrieved from http://www.doria.fi/bitstream/handle/10024/39685/isbn9789522145888.pdf?sequence=1

Turton, H. (2008). ECLIPSE: An integrated energy-economy model for climate policy and scenario analysis. Energy, 33(12), 1754-1769. https://doi.org/10.1016/j.energy.2008.07.008

United Nations Environment Programme (UNEP) (2011). Towards a green economy: Pathways to sustainable development and poverty eradication - A synthesis for policy makers. Retrieved from http://www.unep.org/publications/contents/pub_details_search.asp?ID=4188

United Nations Environment Programme (UNEP) (2009). Global green new deal: Policy brief. Retrieved from http://www.unep.org/pdf/A_Global_Green_New_Deal_Policy_Brief.pdf

Van Vliet, B. (2012). Renewable resources. In D. Southerton (Ed.), Encyclopedia of Consumer Culture (pp. 1212-1214). Thousand Oaks, CA: SAGE Publications.

World Bank (2012). Inclusive green growth, the pathway to sustainable development. Retrieved from http://siteresources.worldbank.org/EXTSDNET/Resources/Inclusive_Green_Growth_May_2012.pdf

Zhou, P., Jin, R. Y., & Fan, L. W. (2016). Reliability and economic evaluation of power system with renewables: A review. Renewable and Sustainable Energy Reviews, 58, 537-547. https://doi.org/10.1016/j.rser.2015.12.344

Naše gospodarstvo/Our economy

Journal of contemporary issues in economics and business

Journal Information

Metrics

All Time Past Year Past 30 Days
Abstract Views 0 0 0
Full Text Views 792 449 22
PDF Downloads 366 256 7