Scandurra, Giuseppe and Romano, Antonio Angelo (2011): The investments in renewable energy sources: do low carbon economies better invest in green technologies?
Download (378kB) | Preview
The aim of this study is to analyse the driving of investment in renewable energy sources in low carbon and high carbon economies. To address these issues, a dynamic panel analysis of the renewable investment in a sample of 29 countries was proposed. Results demonstrate that the dynamic of investments in renewable sources is similar in the two panels, and depends by nuclear power generation, GDP and technological efficiency. Results show that countries try to reduce their environmental footprint, decreasing the CO2 intensity . Based on the estimation results, we think that energy sustainability passes through the use of renewable resources that can complement the nuclear technology on condition that both exceed their limits.
|Item Type:||MPRA Paper|
|Original Title:||The investments in renewable energy sources: do low carbon economies better invest in green technologies?|
|Keywords:||CO2 intensity; Dynamic model; Nuclear Energy|
|Subjects:||C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C23 - Panel Data Models ; Spatio-temporal Models
O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O13 - Agriculture ; Natural Resources ; Energy ; Environment ; Other Primary Products
Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy > Q42 - Alternative Energy Sources
|Depositing User:||Giuseppe Scandurra|
|Date Deposited:||20. Oct 2011 17:01|
|Last Modified:||25. Apr 2015 02:14|
Afgan, N.H., Carvalho, M.G. (2002), Multi-criteria assessment of new and renewable energy power plants. Energy, 27(8),739–755.
Afgan, N.H., Carvalho, M.G. (2002), Sustainability assessment of hydrogen energy systems. International Journal of Hydrogen Energy, 29(13), 1327–1342.
Apergis, N., Payne, J. E. (2010), A panel study of nuclear energy consumption and economic growth. Energy Economics, 32, 545 – 549.
Arellano, M., Bond, S. R. (1991), Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58, 277 – 297.
Baltagi, B. H. (2005), “Econometric Analysis of Panel Data – 3rd Ed.”. John Wiley & Sons Ltd, Chichester.
Bird, L., Bolinger, M., Gagliano, T., et al. (2005), Policies and market factors driving wind power development in the United States. Energy Policy, 33, 1397 – 1407.
Blok, K. (2005), Enhanced policies for the improvement of electricity efficiencies. Energy Policy, 33,1635–1641.
Bradley, T., Ewing, B. T., Sary, R. and Soytas, U. (2007), Disaggregate energy consumption and industrial output in the United States. Energy Policy, 35, 1274- 1281.
Carley, S. (2009), State renewable energy electricity policies: an empirical evaluation of effectiveness. Energy Policy, 37, 3071 – 3081.
European Commission (2011), Roadmap for moving to a low-carbon economy in 2050. Available on line [http://ec.europa.eu/clima/documentation/roadmap/docs/com_2011_112_en.pdf] (June 23rd, 2011)
Fosberg, C. W. (2009), Sustainability by combining nuclear, fossil, and renewable energy sources. Progress in Nuclear energy, 51, 192 – 200.
Ghanadan , R, Koomey, J.G. (2005), Using energy scenarios to explore alternative energy pathways in California. Energy Policy, 33, 1117–1142.
Jaccard, M. K., Nyboer, J., Bataille, C., et al. (2003), Modeling the cost of climate policy: distinguishing between alternative cost definitions and long run cost dynamics. The Energy Journal, 24( 1), 49 - 73.
Li, X. (2005), Diversification and localization of energy systems for sustainable development and energy security. Energy Policy, 33, 2237–2243.
Lior, N. (1997), Advanced energy conversion to power. Energy Conversion and Management , 38, 941–955.
Lior, N. (2002), Thoughts about future power generation systems and the role of exergy analysis in their development. Energy Conversion and Management, 43, 1187–1198.
Lior, N. (2011), Sustainable Energy development: The present (2009) situation and possible paths to the future. Energy, 35, 3976- 3994.
Lofstedt, R. (2008), Are renewables an alternative to nuclear power? An analysis of the Austria/Slovakia discussions. Energy Policy, 36, 2226 - 2233.
Lund, H. (1999), Implementation of energy-conservation policies: the case of electric heating conversion in Denmark. Applied Energy, 64, 117–127.
Lund, H. (2010), The implementation of renewable energy systems. Lessons learned from the Danish case. Energy, 35, 4003–4009.
Marques, A. C., Fuinhas J. A. (2011), Do energy efficiency measures promote the use of renewable sources? Environmental Science & Policy, 14, 471 – 481.
Marques, A.C., Fuinhas, J.A., Pires Manso, J. R. (2010), Motivations driving renewable energy in European countries: a panel data approach. Energy Policy, 38, 6877 - 6885.
Matsui, K., Ujita, H., Tashino, M. (2008), Role of nuclear Energy in environment, Economy and Energy Issues of the 21st century Green House Gas emission Constraint Effects. Progress in Nuclear energy, 50, 97 - 102.
Menz, F. C., Vachon, S. (2006), The effectiveness of different policy regimes for promoting wind power: experiences from the States. Energy Policy, 45, 133 – 155. Philibert, C. (2011), Interactions of Policies for Renewable Energy and Climate. International Energy Agency Working Paper.
Romano, A.A., Scandurra, G. (2011), New investments in electricity generation plants for sustainable energy: nuclear or renewable sources? Proceeding of the 6th Dubrovnik Conference on Sustainable Development of Energy, Water and Environment Systems.
Sadorsky, P. (2009), Renewable energy consumption, CO2 emissions and oil prices in the G-7 countries. Energy Economics, 31, 456 – 462.
Sary, R., Soytas, U. (2004), Disaggregate energy consumption, employment and income in Turkey. Energy Economics, 26, 335 – 344.
Sawin, J.L., Moomaw, W. R. (2009), Renewable Revolution: Low-Carbon Energy by 2030. Worldwatch Report. Available on line [http://www.worldwatch.org/files/pdf/Renewable%20Revolution.pdf} (June 05th, 2011)
Silva, S., Soares, I., Pinho, C. (2011), The impact of renewable energy sources on economic growth and CO2 emissions - a SVAR approach. FEP Working Papers 407, Universidade do Porto, Faculdade de Economia do Porto.
Soytas, U., Sary, R. (2009), Energy consumption, economic growth, and carbon emissions: challenges faced by an EU candidate member. Ecological Economics, 68, 1667 - 1675.
Verbruggen, A. (2008), Renewable and nuclear power: A common future?. Energy Policy, 26, 1036-1047 .