Justifiable Renewable Energy Usage from an Economic Angle

Worldwide, there is a huge demand for the application of renewable energy technologies mainly due to the current environmental problems that mostly originated from our fossil-based energy system. This study is aiming at presenting areas which require a bigger share of renewables from the global energy mix but only for economic reasons. We highlight that these alternatives can bear with advantageous economic effects compared to the non-renewable ones. We take into account renewables-based business opportunities, and then we discuss the positive effects of renewables on economic development. Finally, we look at the issuant security of energy supply and talk about beneficial labor market impacts caused by renewable energies.