Fueling the Future With Green Economy: An Integration of Its Determinants From Renewable Sources

Author(s):  
Weiqing Li ◽  
Abdul Razzaq Khan ◽  
Shahid Bashir ◽  
Wasim Iqbal ◽  
Maryam Khokhar

Abstract Green hydrogen energy is a clean alternative fuel that can help developing economies to increase energy security. This study assesses possible solutions for Pakistan's energy scarcity based on a renewable source of green hydrogen generated through wind, solar, biomass, and geothermal energy. For this purpose, four main criteria: economic, commercialization, environmental, and social acceptance, have been assessed. The study used two-step models, the Fuzzy-analytical hierarchal process, and the Data Envelopment Analysis techniques to evaluate hydrogen energy production through available renewable energy sources. According to the fuzzy-led analysis's empirical results, wind energy source optimization is best suited to produce hydrogen energy in Pakistan for all four criteria (economic benefit, environmental impacts, commercial potential, and social acceptance). At the same time, solar is the second-best option in all the given criteria. The DEA-led analysis also considers wind energy as the most efficient source to produce hydrogen energy in Pakistan. This study can help policymakers develop fact-based hydrogen energy projects in their respective areas, especially in developing economies, as most share the same characteristics.

Author(s):  
Talip Arsu

Electricity generation, one of the renewable energy sources (RES), delivers a solution for various problems such as energy efficiency, energy supply security, reducing foreign dependency, and especially, environmental concerns. However, the solutions provided for these problems bring along the question of which RESs are produced more effectively. Therefore, in this research, RESs used for electricity generation in Turkey were analyzed by using generation data to show which one is more effective. Bi-objective multiple-criteria data envelopment analysis (BiO-MCDEA) method, a goal programming-based efficiency determination method, was used for the efficiency analysis conducted for five years between the years of 2014 and 2018. As a result of the analysis, geothermal energy came into prominence as the most effective RES for all of the years included in the solution. Geothermal energy was followed by biomass energy, wind energy, hydroelectric, and solar energy, respectively.


Energies ◽  
2021 ◽  
Vol 14 (16) ◽  
pp. 5107
Author(s):  
Jarosław Gryz ◽  
Barbara Kaczmarczyk

(1) Introduction: The European Union is a global leader in the transition to a low-carbon economy. The community’s population has already reduced greenhouse gas emissions by 22%, while the gross domestic product (GDP) in its member states increased by 58% between 1990 and 2017. The Union has shown that economic growth is possible in the link between politics, nature, and the citizens’ eco-empathy. It has implications for both the European and global economy, infrastructure, food production, public health, and biodiversity, the formula for political stability. The hallmark of the European Union is the blending of politics, culture, and nature in its quest for climate neutrality. The community’s horizon is a zero-emission economy by 2050. (2) Theoretical framework: The cognitive assumptions of the article are the following theses: 1. The Union strives to accelerate the transition process to a regenerative growth model using technologies for obtaining and distributing energy for individual and collective needs; 2. The Union and the European citizens want to hand over more to planet Earth than they take away from it, thus making progress toward keeping resource consumption within planetary limits. 3. The Union aims to reduce its consumption footprint and double the rate of applying closed-loop materials in the next decade. Finally, it fits in with the organization’s policy projections. (3) Methodology and research results: Qualitative and quantitative research methods were used in the research process. The literature has been analyzed on the subject and the applicable legal acts, making it possible to classify, generalize, describe, and systematize the facts collected during the research. A survey was conducted on 1106 students, and in-depth interviews were conducted with three energy experts: Krzysztof Tomaszewski (the University of Warsaw, researcher and lecturer on energy security issues), Dariusz Pachniewski (inventor in energy sector, businessman in hydrogen energy sector), and Tomoho Umeda (President of Polish Chamber of Commerce). The research aimed to identify the environmental and energy awareness, knowledge of renewable energy sources, and opinions of young Poles on their use in two areas: home and work. (4) Discussion: The reinforced narrative of creating a low-carbon society, a green economy, was adapted and evaluated for innovative individual and collective approaches in the research conducted in this paper. In the quantitative and qualitative samples, the assumptions made were double-checked. The former verified the students’ views, while the latter, the experts’ views. The procedure established the directions of knowledge evolution and approach to technologies and innovations among students of technical faculties related to the energy sector. There were existing individual and collective mental constructs on energy transition and climate neutrality identified. (5) Conclusions: The surveys conducted among university students of energy-related majors and specialties and experts revealed important information. First, it concerned the way knowledge is communicated and how it is interpreted; second, informing and implementing the European Union’s climate policy; third, the creation of a low-carbon society; fourth, the perception of climate neutrality among young Poles, and finally, preferences in energy generation and use in homes and businesses.


2015 ◽  
Vol 6 (2) ◽  
Author(s):  
Dragana Milosavljević ◽  
Tomislav Pavlovic ◽  
Dragoljub Mirjanić ◽  
Danica Piršl

This paper reviews the current state of the renewable energy use in Serbia. Further on, the paper describes energy potential and gives examples of the use of solar energy, wind energy, hydropower, geothermal energy, biomass and biogas in Serbia. Extensive body of information is given about support systems and measures of incentives for the investment in the construction and sale of electricity from plants using renewable energy sources. In conclusion, achieved results of the use of renewable energy sources in Serbia and the incentives for their use are presented.


2021 ◽  
Vol 11 (21) ◽  
pp. 10213
Author(s):  
Benjamin Murgas ◽  
Alvin Henao ◽  
Luceny Guzman

The use of renewable energy sources, especially wind energy, has been widely developed, mostly during the last decade. The main objective of the present study is to conduct a literature review focused on the evaluation under uncertainty of wind energy investment using the real options approach to find out whether public opposition (NIMBY projects) has been contemplated, and if so, what have been the flexible strategies applied for its intervention. Overall, 97 publications were analyzed, identifying 20 different models or approaches, which were grouped into eight categories: 1. Real options, 2. Optimization, 3. Stochastics, 4. Financial evaluation, 5. Probabilistic, 6. Estimation, 7. Numerical prediction, and 8. Others. The real options approach, present in 32% of the studies, was the most popular. Twenty-eight types of uncertainties were identified, which were grouped, for better analysis, into nine categories. In total, 62.5% of the studies included the price of electricity as a source of uncertainty; 18.8%, the velocity of wind; and 15.6%, the feed-in rates-subsidy. Both random and non-random techniques were applied to assess the real options and to model the uncertainties. When evaluating real options, the Monte Carlo simulation technique was the most preferred, with 16 (51.6%) applications, followed by non-randomized techniques, decision tree, and dynamic programming, with eight (25.8%) applications each. There is a marked tendency to use stochastic processes to model uncertainty, particularly geometric Brownian motion, which was used in 61.3% (19) of the studies in the sample. When searching for “real options AND (nimby OR public opposition)”, no study was found, which shows the possibility of developing research on this aspect to determine its impact on investments in wind energy projects.


2021 ◽  
Vol 7 (3) ◽  
Author(s):  
Al- Amin ◽  
Al- Amin ◽  
Al- Amin

This paper discusses and analyzes the economics for total cost investment to produce electricity from different sources like Geothermal Energy, Wind Energy, Hydro, Nuclear, Solar, etc. Renewable energy is the focus of this study since it is both affordable and a superior solution than non-renewable energy. The world's nonrenewable energy supply is running out, and prices are rising rapidly. As a result, the use of renewable energy sources is steadily growing. The total installed cost of different sources from 2007-2019 is driven clearly in this paper. An overall discussion on electricity generation is also included in this paper.


2015 ◽  
Vol 8 ◽  
pp. 66-77 ◽  
Author(s):  
Iman Khorsand ◽  
Christine Kormos ◽  
Erin G. MacDonald ◽  
Curran Crawford

2012 ◽  
Vol 1 (2) ◽  
pp. 43-50 ◽  
Author(s):  
Viktória Törocsik ◽  
Zoltán Egri

The communal feature of the utilization of renewable energy sources, spread of technological innovations, and support of energy efficiency is that they all contribute to the sustainable development, the prosperous direction energy supply and through these to the creation of new workplaces. Hopefully in the future this will lead to economic growth, better competitiveness of the country, and the outset of rural planning. In the national respect from the renewable resources the exploitation of biomass, geothermal energy, wind, and solar energy can be guaranteed through the energy supply. As such, a suitable and extensive legal framework is needed, to ensure and track safe and clean energy. This study examines the important economic and environmental connection of the green economy.


Increasing renewable energy footprints now features prominently in the clean energy transition plan for many countries. Consumer’s Willingness To Pay (WTP) for renewable energy is an important variable in this plan. A concept-centric review of 70 research articles conducted in this study reveals that first and most commonly, consumer’s willingness to pay for renewable energy indicates the social acceptance of renewable energy, quantifying the extent of public financial support for meeting nationally set renewable energy targets. Second, it reflects the preferred attributes of renewable electricity supply in deregulated retail electricity markets. And third, it mirrors the non use values of renewable energy sources. A concept augmented matrix presented in the paper helps understand the most popular valuation techniques used to quantify WTP estimates in included studies. This paper concludes by presenting policy enablers to accelerate renewable energy transition in developing economies - where the transition is still in nascent stages.


Sign in / Sign up

Export Citation Format

Share Document