Social, Economic, and Environmental Impacts of Renewable Energy Resources

Kumar, Mahesh

doi:10.5772/intechopen.89494

Cited by 170 publications

(87 citation statements)

References 22 publications

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“…One of the main reasons given to encourage the development and consumption of renewable energy is that it is environmentally friendly and can, therefore, reduce CO 2 emissions unlike non-renewable energy (Kumar, 2020; Kumar and Majid, 2020). Some studies have ascertained the effect of renewable energy on CO 2 emissions.…”

Section: Literature Reviewmentioning

confidence: 99%

What determines renewable energy consumption? Startling evidence from Ghana

Kwakwa

2020

IJESM

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Purpose Owing to the adverse effect of carbon dioxide emission, there have been calls for economies to rely on (cleaner) renewable energy. Although empirical studies on the subject matter abound the conflicting outcome, the less attention paid to combustible renewable and waste, and the little empirical evidence of the effect of financial development and industrialization on renewable energy consumption necessitate further studies. This study aims to examine the drivers of renewable energy consumption for Ghana whose share of renewable energy consumption in the total energy consumption has been reducing over the past decade, with fossil fuel consumption remaining high. Design/methodology/approach Based on the demand theory and empirical studies, the paper models total renewable energy consumption and combustible renewables and waste as a function of income, price, financial development and industrialization. Regression and variance decomposition techniques were used to analyze the data. Findings Ghana’s renewable energy consumption is positively influenced by industrialization, but negatively influenced by price, income and financial development in the long run, while in the short run, industrialization and financial development affect renewable energy consumption. Research limitations/implications The findings imply that the transition to cleaner energy is not a matter of income level alone. Future research should investigate the drivers of other renewable energy consumption and the possible challenges to green finance in Ghana’s financial sector. Originality/value The effect of financial development and industrialization on renewable energy consumption is examined. Previous econometric analyses have also focused on total renewable energy, but this study adds combustible renewable and waste to the analysis.

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Section: Literature Reviewmentioning

confidence: 99%

What determines renewable energy consumption? Startling evidence from Ghana

Kwakwa

2020

IJESM

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“…These include tackling poverty, hunger, improving, specified in the implementation of the Sustainable Development Strategy (Ciuła et al 2019;Gielen et al 2019;Hák et al 2016;Hutsaliuk et al 2020;Owusu and Asumadu-Sarkodie 2016). The use of renewable energy sources contributes to the sustainable development of cities, which thanks to solar, wind, biogas plants, small hydropower plants can provide themselves with electricity, while reducing their costs and resource dependence (Kumar 2020;Spillias et al 2020;Tsimoshynska et al 2021). The population can generate electricity independently and control its distribution, while also minimizing losses during long-distance transmission (Mulatu 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

Forecasting solar generation in energy systems to accelerate the implementation of sustainable economic development

Sribna¹,

Koval²,

Olczak³

et al. 2021

Polityka Energetyczna – Energy Policy Journal

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The analysis and assessment of the development of solar energy were carried out and it was noted that the production of solar electricity in the world has increased by more than 15% over the last year. In 2020 there are more than 37 countries with a total photovoltaic capacity of more than one GW, and the share of solar energy in total world electricity production was 8.15%. In the regional context, the largest production of electricity by solar energy sources is in Asia (at the expense of India and China) and North America (USA). The study assesses the main factors in the development of solar energy from the standpoint of environmental friendliness and stability of the electricity supply. The problem of the utilization of solar station equipment in the EU and the US is considered. According to the IPCC, IEA, Solar Power Europe, forecasting the development of solar energy in the world is considered. It is proved that the main factor in assessing the economic efficiency of solar energy production is a regional feature due to natural and climatic conditions (intensity of solar radiation). The use of solar generation is auxiliary for the operation of modern electrical networks as long as the efficiency of photovoltaic cells increases by at least 60-65%. Marginal costs of solar energy are minimal in those countries where active state support is provided. The competitiveness of solar energy is relatively low. However, from the standpoint of replacing energy fuel at a cost of USD 10 per 1 Gcal of solar energy saves 10-20 million tons of conventional fuel. Industrial production of solar electricity at modern solar power plants forms a price at the level of USD 250-450 for 1 MWh.

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“…In order to reduce greenhouse gases, it is necessary to use renewable energy sources (RES) [4,7], e.g., renewable energy in the form of water, wind, solar, biomass, or geothermal energy [8]. It is considered that after 2050, 50% of the global energy supply will be produced by RES, where the volume of RES is considered as 140 times greater than the worldwide annual energy consumption [9]. According to the International Energy Agency (IEA), the world will see an increase in total renewable Energies 2021, 14, 5977 2 of 32 energy of around 50% by 2040 [10].…”

Section: Introductionmentioning

confidence: 99%

“…According to the International Energy Agency (IEA), the world will see an increase in total renewable Energies 2021, 14, 5977 2 of 32 energy of around 50% by 2040 [10]. Currently, all RES allow to achieve about 15-20% of the world's total energy [9]. In turn, to achieve the climate goal of limiting global warming to below 2 • C, the share of RES in the final demand of energy needs to grow from 19% in 2017 to 65% in 2050.…”

Section: Introductionmentioning

confidence: 99%

Model of Choice Photovoltaic Panels Considering Customers’ Expectations

Siwiec

Pacana

2021

Energies

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Photovoltaic electricity generation is key to achieving deep decarbonization with a high degree of electrification. It is predicted that the energy sector will reduce carbon dioxide by producing electricity mainly from photovoltaic (PV) power. Although dynamic development of the implementation of photovoltaic panels has been observed, their choice considering customer specificity is still a problem. Therefore, the purpose of this study is to propose the model of choice photovoltaic panels considering customers’ expectations. It can support the choice of a photovoltaic panel of a certain quality (satisfaction of concrete customer) in combination with the cost of its purchase. The proposed model includes acquiring and then processing customers’ expectations into technical criteria, while simultaneously considering the weighting of these criteria. It is realized in a standardized way, i.e., the zero-unitarization method (MUZ), after which normalized values of the quality of the photovoltaic panels’ criteria are obtained. In turn, the quality of these products is estimated by the weighted sum model (WSM) and then integrated with purchase cost in qualitative cost analysis (AKJ). As a result, using the scale of relative states, it is possible to categorize customer satisfaction from indicating qualitative cost and selecting the photovoltaic panel expected by customers (the most satisfactory). The effectiveness of the model was demonstrated by a sensitivity analysis, after which the key PV criteria were indicated. The proposed model is intended for any entity who selects a photovoltaic panel for customers. The computerization of calculations may contribute to its utilitarian dissemination.

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Social, Economic, and Environmental Impacts of Renewable Energy Resources

Cited by 170 publications

References 22 publications

What determines renewable energy consumption? Startling evidence from Ghana

What determines renewable energy consumption? Startling evidence from Ghana

Forecasting solar generation in energy systems to accelerate the implementation of sustainable economic development

Model of Choice Photovoltaic Panels Considering Customers’ Expectations

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