Measuring the effect of trade liberalisation on the consumption of non-renewable energy sources in Latin America & the Caribbean Countries

2021 ◽  
Vol 10 (4) ◽  
pp. 349-358
Author(s):  
Matheus Koengkan ◽  
José Alberto Fuinhas ◽  
Isabel Vieira
Keyword(s):  
Economic Growth ◽  
Latin America ◽  
Renewable Energy ◽  
Error Correction ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Trade Openness ◽  
Energy Sources ◽  
The Caribbean ◽  
The Impact

This article investigates the impact of trade openness on the consumption of fossil fuels for a panel of fourteen LAC countries over the period from 1990 to 2014. To this end, a PARDL model in unrestricted error-correction form is estimated. The results of the model regression point indicate that the impact of economic growth and elasticity of trade openness are statistically significant at the 1% level and contribute to increased consumption of fossil fuels in the LAC countries. However, the impact and elasticity of consumption of renewable energy are statistically significant at 1% and 5% levels and thus contribute to decreasing consumption of fossil fuels.

scholarly journals The Reaction of the Consumption of Fossil Fuels to Trade Openness in Latin America & the Caribbean Countries

2021 ◽  
Vol 22 (45) ◽  
Author(s):  
Matheus Koengkan ◽  
José Alberto Fuinhas ◽  
Isabel Vieira
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Fossil Fuels ◽  
Positive Impact ◽  
Renewable Energy Sources ◽  
Trade Openness ◽  
Energy Sources ◽  
The Caribbean ◽  
The Impact ◽  
Model Point

This article investigates the impact of trade openness and renewable energy on the consumption of fossil fuels for a panel of fourteen LAC countries over the period from 1990 to 2014. To this end, a PARDL model in unrestricted error-correction form is estimated, and robustness checks are performed by estimating a PNARDL model. The results of the PARDL model point indicate that the impact of economic growth and elasticity of trade openness are statistically significant at the 1% level and contribute to increased consumption of fossil fuels in the LAC countries. However, the impact and elasticity of consumption of renewable energy are statistically significant at 1% and 5% levels and thus contribute to decreasing consumption of fossil fuels. Nevertheless, the asymmetry of the impact of consumption of renewable energy and its elasticity decrease the consumption of fossil fuels. Therefore, the positive impact of trade openness on the consumption of fossil fuels suggests that the process of globalisation by trade liberalisation in the LAC countries is not sufficient to bring more investment that encourages R&D in energy efficiency technologies, and equipment that reduces the consumption of energy from non-renewable energy sources by households and firms.

Kazakhstan: Assessment of Renewable Energy Support and a Green Economy

2021 ◽  
Vol 12 (3) ◽  
pp. 631
Author(s):  
Sergey BESPALYY
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Power Plants ◽  
Renewable Energy Sources ◽  
The State ◽  
Green Economy ◽  
Energy Sources ◽  
Environmentally Sustainable ◽  
The Government ◽  
The Impact

The growth of renewable energy sources (RES) shows the desire of the government of Kazakhstan to meet challenges that affect the welfare and development of the state. National targets, government programs, policies influence renewable energy strategies. In the future, renewable energy technologies will act as sources of a green economy and sustainable economic growth. The state policy in the field of energy in Kazakhstan is aimed at improving the conditions for the development and support of renewable energy sources, amendments are being made to provide for the holding of auctions for new RES projects, which replaces the previously existing system of fixed tariffs. It is expected that the costs of traditional power plants for the purchase of renewable energy will skyrocket, provided that the goals in the field of renewable generation are achieved. This article provides an assessment of international experience in supporting renewable energy sources, as well as analyzes the current situation in the development of renewable energy in Kazakhstan and the impact on sustainable development and popularization of the «green» economy. The study shows that by supporting the development of renewable energy sources, economic growth is possible, which is achieved in an environmentally sustainable way.

Energy Resources and Their Consumption

2022 ◽  
pp. 267-276
Author(s):  
Harpreet Kaur Channi
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Primary Source ◽  
Energy Sources ◽  
Total Capital ◽  
Growth Economic

Power is a significant cause of economic growth and crucial to the sustainability of the economy. Energy consumption is an indicator of a nation's economic growth. Economic growth is focused, among other aspects, on the long-term acquisition of affordable, existing resources, and their use does not pollute the environment. Industrialization serves economic growth and consumes energy. In 2018, 68% of total capital power was consumed by largest energy-intensive areas. When fossil fuel is the primary source of energy, energy consumption is positively correlated with ecosystem cleanliness. Fossil fuels account for more than 70% of the decent energy expectations of India and other economies. In this chapter, problems related to non-renewable energy sources are discussed, and emphasis is given to use more renewable sources.

scholarly journals Model of a building heating system with renewable energy sources

2020 ◽  
Vol 207 ◽  
pp. 02006
Author(s):  
Nicolay Komitov ◽  
Nicolay Shopov ◽  
Violeta Rasheva
Keyword(s):  
Renewable Energy ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Wind Farms ◽  
Heating System ◽  
Energy Sources ◽  
Gas Generator ◽  
Additional Energy ◽  
Photovoltaic Panel ◽  
The Impact

The current century is characterized by an increasing use of renewable energy - wind farms, solar parks, bio fuels, etc. Climate change and rising prices of fossil fuels lead to increased investment in renewable energy. This raises the need to examine the impact of various factors on the efficiency of energy production from renewable energy sources. This is related to the development of adequate models and the implementation of appropriate computer systems to manage and control these processes. The present work presents the main aspects of the modelling of a building heating installation using renewable energy sources - a solar photovoltaic panel and a HHO gas generator. The additional energy needed to heat the building is provided by a pellet boiler. An energy balance of the studied building is made taking into account the external and internal temperatures and energy loss. The computer model was developed in order to build a system for process control in the building’s heating system.

scholarly journals Analyzing the Impact of the Renewable Energy Sources on Economic Growth at the EU Level Using an ARDL Model

Mathematics ◽  
2020 ◽  
Vol 8 (8) ◽  
pp. 1367 ◽  
Author(s):  
Mihail Busu
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Regression Model ◽  
Negative Impact ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
The European Union ◽  
Causality Analysis ◽  
The Impact ◽  
The Eu

Energy is one of the most important drivers of economic growth, but as the population is increasing, in normal circumstances, in all countries of the world, there is a demand for energy produced from conventional resources. Increasing prices of conventional energy and the negative impact on the environment are two of the main reasons for switching to renewable energy sources (RESs). The aim of the paper is to quantify the impact of the RESs, by type, on the sustainable economic growth at the European Union (EU) level. The research was performed for all 28 EU member states, for a time frame from 2004 to 2017, through a panel autoregressive distributed lag (ARDL) approach and causality analysis. Furthermore, Hausman test was performed on the regression model. By estimating the panel data regression model with random effects, we reveal through our results that RESs, namely wind, solar, biomass, geothermal, and hydropower energy, have a positive influence on economic growth at EU level. Moreover, biomass has the highest impact on economic growth among all RES. In fact, a 1% increase in biomass primary production would impact the economic growth by 0.15%. Based on econometric analysis, our findings suggest that public policies at the EU level should be focused on investment in RESs.

scholarly journals The prevalence of renewable energy in the Russian energy market

2019 ◽  
Vol 124 ◽  
pp. 04018
Author(s):  
E. A. Konnikov ◽  
K. V. Osipova ◽  
N. A. Yudina ◽  
E.P. Korsak
Keyword(s):  
Renewable Energy ◽  
Power Supply ◽  
Alternative Energy ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
Energy Market ◽  
Alternative Energy Sources ◽  
World Energy ◽  
The Impact

The energy crisis of 1973-1974 showed that it is difficult to constantly increase the power supply of production, based only on traditional energy sources. The power supply of society is the basis of its scientific and technological progress. It means that it is necessary to introduce unconventional, alternative energy sources more widely. Unlike fossil fuels, unconventional forms of energy are not limited to geologically reserves. Their use and consumption does not lead to the inevitable exhaustion of stocks. However, currently, the reform of world energy markets and increasing the share of renewable energy sources in their structure is a long and innovative process. Lots of countries (Russia in particular) bear significant risks because of reforming their own energy market, which causes a slight increase in the share of renewable energy sources. In this regard, the purpose of this study is to analyse the influence of environmental factors on the development of renewable energy sources in Russia. The result of this study is a system of econometric equations, which allows to evaluate the impact of changes in key drivers of the development of the renewable energy market.

scholarly journals The Impact of Renewable Energy Sources on the Economic Growth of Poland and Sweden Considering COVID-19 Times

Energies ◽  
2022 ◽  
Vol 15 (1) ◽  
pp. 332
Author(s):  
Bogusław Ślusarczyk ◽  
Patrycja Żegleń ◽  
Aldona Kluczek ◽  
Anna Nizioł ◽  
Małgorzata Górka
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Statistical Significance ◽  
National Income ◽  
Energy Sources ◽  
Government Officials ◽  
Analysis Of Results ◽  
The Impact

A demonstration of the relationship between the share of renewables in gross marginal energy and selected countries’ economic growth is the basis of this research. The paper seeks to investigate mutual correlations between renewable energy sources and economic growth for two EU economies and how it influences their fluctuations (increase and decrease). The comparative analysis of results was carried out for less-income Polish and high-income Swedish economies. This research used a regression model to answer the research questions examining the presence of correlations between renewable energy sources in gross marginal energy consumption and economic growth. This study analyzes data starting from 1991 to 2022. The results indicated a positive correlation (statistical significance) between Gross Domestic Product and Gross National Income variables for Sweden (84.6% and 83.7%, respectively) and Poland (79.9% and 79.2%, respectively), which influence the use of renewable energy sources. The findings also reveal that the higher economic growth caused by the use of renewables is observed for the leading countries but at the same time the risk of a greater recession is much more likely than in other countries. These findings would help government officials and policymakers to better understand the role of renewable energy in the economic growth of these countries. This study has contributed to the literature on renewable energy sources and statistical reports under the EU energy sector framework.

scholarly journals Social Aspects of Energy Production from Renewable Sources

2021 ◽  
Vol 16 (1) ◽  
pp. 61-66
Author(s):  
Wojciech Czekała ◽  
◽  
Filip Tarkowski ◽  
Patrycja Pochwatka ◽  
◽  
...  
Keyword(s):  
Renewable Energy ◽  
Energy Production ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Biofuel Production ◽  
Social Aspects ◽  
Energy Sources ◽  
The Social ◽  
The Impact ◽  
Positive Effect

The increased demand for energy determines the need to search for its next sources. One of them could be renewable energy sources, whose importance is increasing, among others, due to the limited resources of fossil fuels. In addition, renewable energy production has many benefits, mainly environmental and economic. Moreover, the social aspects associated with it cannot be ignored. The aim of this work was to discuss selected social benefits resulting from the production of renewable energy. Among the most important advantages of renewable energy sources is their local aspect, since energy production solves many regional problems, mainly related to its transport. The issue of energy security is also essential. In the case of biofuel production, the possibility of involving waste in energy production is extremely beneficial. The use of renewable energy itself directly affects the improvement of the environment, which in turn has a positive effect on people. Nowadays, sustainable development is one of the most critical challenges of humanity. These activities are closely related to the use of renewable energy sources. It is important to pay attention not only to subjects related to the environmental and economic aspects but also the impact of renewable energy sources on society.

scholarly journals How economic growth in Australia reacts to CO2 emissions, fossil fuels and renewable energy consumption

2018 ◽  
Vol 12 (4) ◽  
pp. 696-713 ◽  
Author(s):  
Patrícia H. Leal ◽  
Antonio Cardoso Marques ◽  
Jose Alberto Fuinhas
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Annual Data ◽  
Renewable Energy Consumption ◽  
Content Type ◽  
Distributed Lag ◽  
The Impact

Purpose Australia is one of the ten largest emitters of greenhouse gases but stands out from the others due to its economic growth without recession for 26 consecutive years. This paper aims to focus on the energy-growth nexus and the effects of energy consumption on the environment in Australia. Design/methodology/approach This analysis is performed using annual data from 1965 to 2015 and the autoregressive distributed lag model. Findings The paper finds empirical evidence of a trade-off between economic growth and carbon dioxide (CO2) intensity. The results show that increased gross domestic product (GDP) in Australia increased investment in renewable energy sources (RESs), although the renewable technology is limited and has no impact on reducing CO2 intensity in the long run. In contrast to investment in RES, fossil fuels, coal and oil, are decreased by GDP. However, oil consumption increased renewable energy consumption, and this reflects the pervading effect of the growing economy. Originality/value Overall, this paper contributes to the literature by analysing the behaviour of both energy consumption and the environment on the growing Australian economy. In addition, this paper goes further by studying the impact of economic growth on renewable and non-renewable energy consumption, as well as on CO2 emissions. The study is conducted on a single country for which literature is scarce, using a recent approach and a long time period.

scholarly journals The Impact of Renewable Energy Sources on Economic Growth and CO2 Emissions - a SVAR approach

2012 ◽  
Vol XV (Issue 4) ◽  
pp. 133-144 ◽  
Author(s):  
Susana Silva ◽  
Isabel Soares ◽  
Carlos Pinho
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Co2 Emissions ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
The Impact
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