The Dynamics and Effects of the Renewable Energy Sector in the European Union: Implications and Recommendations for Developing Countries

Author(s)

Long Xingle , Agyenim Boateng Kofi ,

Download Full PDF Pages: 129-138 | Views: 1019 | Downloads: 300 | DOI: 10.5281/zenodo.3491610

Volume 8 - March 2019 (03)

Abstract

Renewable energy has become a focus in the energy sector driving the fight towards smart climate economies on a global scale. Despite the successes chalked in this area in the European Union (EU), many challenges were faced and strategies have been devised to overcome them. This study was carried out to understand the dynamics of the renewable energy sector between 2005 and 2017 and how outcomes influenced strategic changes towards future targets. It also throws light on the effects of the renewable energy sector on fossil fuel market in the EU and how the future looks like for all stakeholders especially in the developing regions of the world. This study is relevant as a quick guide to understanding the major events surrounding renewable energy development, deployment and uptake in the EU. Recommendations based on lessons from the EU scenario are made for future consideration, especially for developing countries.

Keywords

Renewable Energy Sector, European Union

References

 

                  i.            Adams, S., Klobodu, E.K.M., & Apio, A. (2018). Renewable and non-renewable energy, regime type and economic growth. Renewable Energy, 125, 755-767. https://doi.org/10.1016/j.renene.2018.02.135.

      ii.            Bianco, V., Driha, O.M., & Sevilla-Jiménez, M. (2019). Effects of renewables deployment in the Spanish electricity generation sector. Utilities Policy, 56, 72-81. https://doi.org/10.1016/j.jup.2018.11.001.

    iii.            Burke, M.J., & Stephens, J.C. (2018). Political power and renewable energy futures: A critical review. Energy Research & Social Science, 35, 78-93. https://doi.org/10.1016/j.erss.2017.10.018.

    iv.            Charles, A., Darné, O., & Fouilloux, J. (2013). Market efficiency in the European carbon markets. Energy Policy, 60, 785-792. https://doi.org/10.1016/j.enpol.2013.05.036.

      v.            EIA. (2016). International energy outlook report. Available at: https://www.eia.gov/outlooks/ieo/pdf/0484(2016).pdf. Accessed 13/02/2019 at 01:17.

    vi.            FAO (2015). FAO’s work on climate change- Zero hunger is not possible without tackling climate change. Available at: http://www.fao.org/3/CA2607EN/ca2607en.pdf. Accessed 13/02/2019 at 02:18.

  vii.            Hulshof, D., Jepma, C., & Mulder, M. (2019). Performance of markets for European renewable energy certificates. Energy Policy, 128, 697–710. https://doi.org/10.1016/j.enpol.2019.01.051.

viii.            IPCC (2018). Global Warming of 1.5 degrees C, Intergovernmental Panel on Climate Change, Geneva. Available at: http://www.ipcc.ch/report/sr15/. Accessed 11/2/2019 at 01:04.

    ix.            Jiao, L., Liao, Y., & Zhou, Q. (2018). Predicting carbon market risk using information from macroeconomic fundamentals. Energy Economics, 73, 212-227. https://doi.org/10.1016/j.eneco.2018.05.008.

      x.            Karatayev, M., Hall, S., Kalyuzhnova, Y., & Clarke, M.L. (2016). Renewable energy technology uptake in Kazakhstan: Policy drivers and barriers in a transitional economy. Renew. Sustain. Energy Rev. 66, 120e136.

    xi.            Karpf, A., Mandel, A., & Battiston, S. (2018). Price and network dynamics in the European carbon market. Journal of Economic Behavior & Organization, 153, 103-122. https://doi.org/10.1016/j.jebo.2018.06.019.

  xii.            Kaunda, C.S., Kimambo, C.Z., & Nielsen, T.K. (2012). Hydropower in the context of sustainable energy supply: a review of technologies and challenges. ISRN Renew. Energy, 2012, 1–15. http://dx.doi.org/10.5402/2012/730631.

xiii.            Keček, D., Mikulić, D., & Lovrinčević, Ž. (2019). Deployment of renewable energy: Economic effects on the Croatian economy. Energy Policy, 126, 402-410. https://doi.org/10.1016/j.enpol.2018.11.028.

xiv.            OECD Economic Surveys (2018). Available at: https://www.oecd.org/eco/surveys/European-union-2018-OECD-economic-survey-overview.pdf.  Accessed 12/02/2019 at 23:25.

  xv.            OECD/The World Bank/UN Environment (2018). Financing Climate Futures: Rethinking Infrastructure, OECD Publishing, Paris. https://doi.org/10.1787/9789264308114-en.

xvi.            Pacesila, M., Burcea, S.G., & Colesca, S.E. (2016). Analysis of renewable energies in European Union. Renewable and Sustainable Energy Reviews, 56, 156-170. https://doi.org/10.1016/j.rser.2015.10.152.

xvii.            Peterson, T.R., Stephens, J.C., & Wilson, E.J. (2015). Public perception of and engagement with emerging low-carbon energy technologies: a literature review. MRS Energy Sustain. 2. http://dx.doi.org/10.1557/mre.2015.12.

xviii.            Rosa, E.A., & Dunlap, R.E. (1994). Poll trends: nuclear power: three decades of public opinion. Public Opin. Q., 58 (2), 295. http://dx.doi.org/10.1086/269425.

xix.            Seetharaman, Krishna, M., Nitin, P., Saravanan, & Yash, G. (2019). Breaking barriers in deployment of renewable energy. Heliyon, Article No. e01166. https://doi.org/10.1016/j.heliyon.2019.e01166.

  xx.            Sequeira, T.N., & Santos, M.S. (2018). Renewable energy and politics: A systematic review and new evidence. Journal of Cleaner Production, 192, 553-568. https://doi.org/10.1016/j.jclepro.2018.04.190.

xxi.            UN Environment (2018). Emissions Gap Report. Available at: https://reliefweb.int/sites/reliefweb.int/files/resources/EGR2018_FullReport_EN.pdf. Accessed on 12/02/2019 at 23:36.

xxii.            UNFCCC (2015). The Paris Agreement. Available at: https://unfccc.int/resource/docs/2015/cop21/eng/l09r01.pdf. Accessed 12/02/2019 at 02:14.

xxiii.            USAID (2018). Climate change & development- clean, resilient growth. Available at: https://pdf.usaid.gov/pdf_docs/PDACS780.pdf. Accessed 13/02/2019 at 02:21.

xxiv.            Verma, P., Patel, N., Nair, N-K.C., & Brent, A.C. (2018). Improving the energy efficiency of the New Zealand economy: A policy comparison with other renewable-rich countries. Energy Policy, 122, 506-517. https://doi.org/10.1016/j.enpol.2018.08.002.

xxv.            Watts, R. (2012). Public Meltdown: The Story of the Vermont Yankee Nuclear Power Plant, White River Press, Amherst, Mass, 2012.

xxvi.            World Bank. (2016). Climate Change Action Plan 2016–2020. Available at: https://openknowledge.worldbank.org/bitstream/handle/10986/24451/K8860.pdf. Accessed 13/02/2019 at 02:27.

 

Cite this Article: