Antonakakis, Nikolaos, Ioannis Chatziantoniou, and George Filis. “Energy consumption,
CO 2 emissions, and economic growth: An ethical dilemma.” Renewable and Sustainable Energy Reviews 68 (2017): 808-824.
This article examines the dynamic interrelationships in the output of energy by applying panel vector auto regression (PVAR) and function analyses to data on energy consumption, carbon dioxide emission and real GDP in 106 countries differently classified on categories of income groups between 1971 to 2011.From the article findings, the effects of different energy types on economic growth and emissions are mixed in certain groups in countries. The article finds out that the relationship between economic growth and energy consumption is bidirectional. The article, therefore, does not have significant evidence to support that renewable energy promotes economic growth consequently providing that there are various opinions on the case. The paper also addresses the issue on green gas emissions phenomena and writes that there is no evidence that developed countries will grow out of environmental pollution because there is a continued process of growth which aggravates greenhouse gasses emission. It questions the efficacy of renewable energy as a means of sustaining growth, therefore, a seemingly ethical dilemma between high economic growth rate and unsustainable environment. This paper is very helpful in first developing my argument on the deployment of renewable energy for economic growth because it provides the fact that there are other factors that can influence economic growth and particularly greenhouse gas emissions. This article helps me in directing the responsible parties on the efficacy of renewable energy and directs my content into providing a recommendation to improve on efficacy.
Apergis, Nicholas, and Dan Constantin Danuletiu. “Renewable energy and economic
growth: evidence from the sign of panel long-run causality.” International Journal of Energy Economics and Policy 4.4 (2014): 578.
This study examines the relationship between renewable energy and economic growth for 80 countries using evidence from the sign of Panel Long Run Casuality.The long run causality test indicates that there is a long-run positive causality in real GDP with renewable energy for the total sample and across the regions as well. Empirical evidence from this study strongly supports that renewable energy consumption is important for economic growth and that economic growth encourages the use of renewable energy hence the two are interdependent. This causality provides an avenue for the governmental policies to enhance the development of renewable energy sector. This paper is useful in providing my study with empirical evidence on the positive impact the renewable energy provides to the economic growth hence essential in meeting economic demands. Considering deployment of renewable energy has been a subject of debate, any conclusion that takes either position should be justified with supportive arguments. Empirical evidence are one of the most valued methods of quantifying information, and this study provides me with one. Evidence are important in proving a point and empirical evidence are supportive enough in taking a position in my study.
Bhattacharya, Mita, et al. “The effect of renewable energy consumption on economic
growth: Evidence from top 38 countries.” Applied Energy 162 (2016): 733-741.
This study aims at investigating the impacts of renewable energy consumption on the economic growth of countries in the world that majorly depend on and use renewable energy for consumption. The authors of this research used the renewable energy attractiveness index developed by Ernst and Young Global Limited and explored 38 countries that are leading in renewable energy consumption from which they explained the economic growth of these countries between 1991 and 2012.The research found out that there was cross-sectional dependence and heterogeneity across the countries. Findings of long-run output revealed that renewable energy consumption impacted the economic growth positively with economic output increasing by 57%.The researchers of this study also carried out time series analysis for long term output elasticities and found out that government, energy planners, international agencies and all other relevant agencies need to work together to increase renewable energy investment to reduce carbon growth in most of these countries. This research provides me with concrete and quantifiable data that provide evidence for my study that renewable energy has actually worked to various economies significantly contributing to economic growth and therefore investing in renewable energy is a guarantee to contributing to increase in economic output. Also, the study helps me in developing my recommendation section on what responsible agencies should do to increase the efficacy of renewable energy and accelerate its investment. The study also helps me in taking my position that it is possible for renewable energy to meet the demand for economic growth.
Kibert, Charles J. Sustainable construction: green building design and delivery. John Wiley
& Sons, 2016.
The purpose of this book is to outline how renewable energy is the root to a sustainable environment. The book provides that renewable energy will shift the landscape for green buildings and this is a business opportunity for both designers and builders. As this business grows, land is set aside for a purpose that is more environmentally sustainable as activities involving the use of fossil fuel declines. The book outlines key factors that ensure a sustainable environment with green house building. First, land resources particularly undeveloped, natural and agricultural land will be put into the green building, and the efforts of the government that look into minimizing urban sprawl into these lands will be addressed. Employing energy resources will also help minimize the use of non-renewable energy and reduce carbon dioxide emission consequently help in mitigating climate change. The innovative approaches to processing and management of waste water through hydraulic power technology address the issue of water shortages in America. Another role renewable energy can play is making use of abandoned and forgotten resources though the green building. This book further provides that renewable energy is one of the best approaches for a sustainable environment. The book gives two most important contribution of deploying renewable energy which goes hand in hand. First is creating a sustainable environment hence cutting costs incurred from global warming and secondly in creating a business opportunity in green building and dominate emerging markets in that regard. This book is relevant in my study as it provides me with the benefits of renewable energy in growing the economy considering my position of the study is that it is possible for renewable energy to meet demand for economic growth. As America works hard in growing the economy, some factors like global warming that is largely contributed by the use of non-renewable energy continue to lag their efforts. Eliminating such factors for example reducing global energy through the use of renewable energy will definitely accelerate economic growth.
Pimentel, David, et al. “Renewable Energy: Current and Potential Issues Renewable
Energy technologies could, if developed and implemented, provide nearly 50% of US energy needs; this would require about 17% of US land resources.” Bioscience 52.12 (2002): 1111-1120.
This journal aims to establish the potential benefits of renewable energy considering the current issues faced by the US. The journal states that United States faces energy shortages and increasing energy prices in the next few decades and therefore if renewable energy technologies were developed, nearly 50% of US energy needs will be provided which would require 17% of US land resources. This journal article provides that the US have consumed a significant amount of its oil reserves and in future, more energy will be required, and hence it will have no option but seek energy elsewhere including increasing importation. Also, the article also mentions how fossil fuel is a major contributor to increasing concentration of Carbon dioxide gas in the atmosphere, a key cause of global warming. The article states the disadvantages of global warming as the reduction of agricultural production and other biological and social problems. The journal article seeks to show how renewable energy can counter these problems and be helpful in fuelling the growth of US economy in future. First, it provides that reducing fossil fuel by using alternative sources of energy which is investing in renewable energy will slow the rate of global warming. Hydroelectricity systems, biomass, wind power and solar energy among other technologies have been projected in the article as technologies that will provide the US with most of it renewable energy in future. These technologies are said to the potential to supply future needs of the US and the whole world regarding land requirements, environmental benefits and risks and economic costs. This article provides my paper with supportive information on the drawbacks of fossil fuels and the opportunity renewable energy provides to countering the energy shortages and increasing energy prices faced today.
Rabia Ferroukhi, Alvaro Lopez-Peña, Ghislaine Kieffer, Divyam Nagpal, Diala
Hawila, Arslan Khalid, Laura El-Katiri, Salvatore Vinci and Andres Fernandez (IRENA). (2016), ‘Renewable Energy Benefits: Measuring The Economics’. IRENA, Abu Dhabi
This publication provides the latest evidence that mitigating climate change through using renewable energy and achieving the desired social and economic economics have mutual benefits. The publication provides that the growing case for renewable energy business means climate change is being mitigated and at the same time achieving the socio-economic objectives, and therefore an investment in one is an investment in both. Considering these investments are low carbon investments, the future energy system is a desirable one and hence reduced global warming and less costs for the nation. This publication provides the first quantification of the macroeconomic impacts of deploying renewable energy by 2030.According to the publication, transition to sustainable energy is the key to meeting development and climate objectives. Most importantly, advocating and accelerating deployment of renewable energy will drive economic growth, created more jobs, enhance the welfare of individuals and contribute to a safe climate in future. The report also states the importance of renewable energy in increasing trade in renewable energy equipment and other investment goods and services as trade for other sources as fossil fuels decrease. This means implication of favorable trade and energy security. Given the high contribution the fossil fuel provides to GDP of some countries, the dependency of the export revenues can have a significant effect on their economies. Countries will see this as an opportunity to diversify their economies and therefore position themselves in the market being created. This publication is significant in my study because it typically focuses on the benefits of renewable energy in accelerating the economies of countries. It explains its significance in increasing trade which is a major bench mark for fuelling the future economic growth of any country. The fact that it predicts economic diversification clearly indicates how renewable energy is an opportunity for a country in investing in other sources of income hence fuelling economic growth. The publication supports arguments for the possibility of renewable energy in fulfilling economic growth which is my stand in the study.
Winfield, Mark, and Brett Dolter. “Energy, economic and environmental discourses and
their policy impact: The case of Ontario׳ s Green Energy and Green Economy Act.” Energy Policy 68 (2014): 423-435.
This paper entirely focuses on the debate around the Ontario’s Green Energy and Green Economy Act (GEGEA) on its impacts on economic growth. From the paper’s exploration of the debate, it finds out that there is extremely limited empirical data on employment impacts of Ontario legislation. However, it finds out that the evidence of the legislation on the economic impacts is basically based on the economic modeling exercises. The paper explores the reasons for different conclusions arrived at by the critics and supporters of the debate. Critics of this legislation explain that differences in modeling approaches and assumption regarding the cost of renewable energy in relation to the cost of non-renewable energy show they cannot be reliable in valuing the impacts of renewable energy to economic growth. The proponents of the policy, on the other hand, view renewable energy initiatives as a politically feasible mechanism for addressing biases with the current energy in favor of conventional technologies. Also, they see this initiative as a means of addressing government failures in solving environmental and social costs associated with conventional technologies. The paper further addresses Ontario’s renewable energy initiative as a strategy for industrial development. The paper finds out that the exercise should have been initiated earlier and that its commitment presents a threat to industrial development because it implies a shift from non-renewable to renewable energy at a large extend which might amount to an expensive intervention. However, the long-term contribution from the investment in developing the industrial sector is still significant to the economy. This paper is very reliable in first developing a thesis statement for my study by introducing an argument as to why renewable energy and its impacts on the economy is an issue of debate. Secondly, this paper provides me with various opinions as to why renewable energy does not fulfill the demand for economic growth which is an argument against benefits of renewable energy to the economic growth. The paper presents its arguments such that renewable energy remains to be important for economic growths in the long run because its drawbacks are temporary.