Impact of renewable and non-renewable generation on economic growth in Greece

Q1 Social Sciences

Electricity Journal Pub Date : 2024-07-01 DOI:10.1016/j.tej.2024.107421

Melina Dritsaki , Chaido Dritsaki , Vasileios Argyriou , Panagiotis Sarigiannidis

{"title":"Impact of renewable and non-renewable generation on economic growth in Greece","authors":"Melina Dritsaki , Chaido Dritsaki , Vasileios Argyriou , Panagiotis Sarigiannidis","doi":"10.1016/j.tej.2024.107421","DOIUrl":null,"url":null,"abstract":"<div><p>The consumption of coal, oil, and other fossil fuels has raised concerns about climate change. The Kyoto Protocol and the Paris Agreement aimed to address climate change by promoting sustainable clean energy technologies. The UN conference in the United Arab Emirates in December 2023 concluded with an agreement marking the end of the fossil fuel era. All these developments aim to address climate change through the use of clean energy technologies while maintaining economic growth. The connection of climate change with the developing model has gained significant importance on countries’ adjusted plans for climate change. The fossil fuels have a negative impact on economic growth of Greece, implying a continuous dependence from non renewable energy sources and a burden of economic expansion. The reliable estimation of the consequences of climate change on growth, both spatial and temporal, constitutes a decisive parameter for the adjusted plan not only in short term level but also in a long term horizon. Focusing on the improvement of energy efficiency, on the maximization use of renewable energy sources in Greece, on the emphasis given to technologies and fuels storage as well as alternative technologies of energetic and industrial sector, the achievement of energetic and climate transition designed on Greece will be feasible on a long term strategy. The results showed that the growth of renewable energy sources to produce electric energy is necessary for the sustainable growth of Greece. Specifically, the results of ARDL model showed that the renewable energy sources have a positive impact on economic growth in Greece in the long run, and the non-renewable energy sources have a significant effect on economic growth in the short run. These results imply that the aim for investments on renewable energy sources from policy makers should be direct mainly on regions with high levels of carbon dioxide emissions due to lignite combustion.</p></div>","PeriodicalId":35642,"journal":{"name":"Electricity Journal","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1040619024000563/pdfft?md5=791627ba450b843c861c0ea87aa44c98&pid=1-s2.0-S1040619024000563-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Electricity Journal","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1040619024000563","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"Social Sciences","Score":null,"Total":0}

引用次数: 0

Abstract

The consumption of coal, oil, and other fossil fuels has raised concerns about climate change. The Kyoto Protocol and the Paris Agreement aimed to address climate change by promoting sustainable clean energy technologies. The UN conference in the United Arab Emirates in December 2023 concluded with an agreement marking the end of the fossil fuel era. All these developments aim to address climate change through the use of clean energy technologies while maintaining economic growth. The connection of climate change with the developing model has gained significant importance on countries’ adjusted plans for climate change. The fossil fuels have a negative impact on economic growth of Greece, implying a continuous dependence from non renewable energy sources and a burden of economic expansion. The reliable estimation of the consequences of climate change on growth, both spatial and temporal, constitutes a decisive parameter for the adjusted plan not only in short term level but also in a long term horizon. Focusing on the improvement of energy efficiency, on the maximization use of renewable energy sources in Greece, on the emphasis given to technologies and fuels storage as well as alternative technologies of energetic and industrial sector, the achievement of energetic and climate transition designed on Greece will be feasible on a long term strategy. The results showed that the growth of renewable energy sources to produce electric energy is necessary for the sustainable growth of Greece. Specifically, the results of ARDL model showed that the renewable energy sources have a positive impact on economic growth in Greece in the long run, and the non-renewable energy sources have a significant effect on economic growth in the short run. These results imply that the aim for investments on renewable energy sources from policy makers should be direct mainly on regions with high levels of carbon dioxide emissions due to lignite combustion.

查看原文本刊更多论文

可再生能源和不可再生能源发电对希腊经济增长的影响

煤炭、石油和其他化石燃料的消耗引起了人们对气候变化的担忧。京都议定书》和《巴黎协定》旨在通过推广可持续的清洁能源技术来应对气候变化。2023 年 12 月在阿拉伯联合酋长国召开的联合国会议达成了一项协议，标志着化石燃料时代的结束。所有这些发展都旨在通过使用清洁能源技术应对气候变化，同时保持经济增长。气候变化与发展模式之间的联系在各国调整后的气候变化计划中占据了重要地位。化石燃料对希腊的经济增长产生了负面影响，意味着对不可再生能源的持续依赖和经济扩张的负担。对气候变化在空间和时间上对经济增长造成的后果进行可靠的评估，不仅在短期内，而且在长期内都是调整计划的决定性参数。希腊将重点放在提高能源效率、最大限度地利用可再生能源、重视能源和工业部门的技术和燃料储存以及替代技术上，根据长期战略，希腊实现能源和气候转型是可行的。研究结果表明，为了实现希腊的可持续发展，必须增加可再生能源来生产电能。具体而言，ARDL 模型的结果表明，从长期来看，可再生能源对希腊的经济增长有积极影响，而从短期来看，不可再生能源对经济增长有显著影响。这些结果表明，政策制定者对可再生能源的投资目标应主要针对因燃烧褐煤而导致二氧化碳排放量较高的地区。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Electricity Journal Business, Management and Accounting-Business and International Management

CiteScore

5.80

自引率

0.00%

发文量

审稿时长

31 days

期刊介绍： The Electricity Journal is the leading journal in electric power policy. The journal deals primarily with fuel diversity and the energy mix needed for optimal energy market performance, and therefore covers the full spectrum of energy, from coal, nuclear, natural gas and oil, to renewable energy sources including hydro, solar, geothermal and wind power. Recently, the journal has been publishing in emerging areas including energy storage, microgrid strategies, dynamic pricing, cyber security, climate change, cap and trade, distributed generation, net metering, transmission and generation market dynamics. The Electricity Journal aims to bring together the most thoughtful and influential thinkers globally from across industry, practitioners, government, policymakers and academia. The Editorial Advisory Board is comprised of electric industry thought leaders who have served as regulators, consultants, litigators, and market advocates. Their collective experience helps ensure that the most relevant and thought-provoking issues are presented to our readers, and helps navigate the emerging shape and design of the electricity/energy industry.