The Investigation and Analysis of the Renewable Energy Development on Macroeconomic Indicators

Document Type : Research Paper

Authors

1 Ph.D. Candidate of Energy Economics, Allameh Tabataba'i University

2 associate professor Allameh Tabatabai University

3 Associate Professor Tehran University

4 Assistant Professor Allameh Tabatabai University

Abstract

Energy provision and reduction environmental emissions are the main reasons for the development of renewable energy in many developed and developing countries. Development of renewable resources have affected economic indicators.
In this paper, the method of economic analysis have been used in order to evaluate of the renewable energy development on macroeconomic indicators including Employment, GDP, value added and economic welfare. The results show that the development of renewable energy will create over 1.8 million jobs in 2015, so that the share of Asian countries more than 60 percent of total employment. Although the development of renewable energy increased an average of 0.63 percent of world GDP, but oil-rich countries are seeing negative growth. Value add is more than 610$ for each Kilowat module in the solar energy and an average of 583$ for each Kilowat in the wind. The impact of renewable energy development on welfare has been positive in different countries and an average 2.81 percent for the selected countries. Economic indicators show that the supply of energy from renewable sources in addition to supply the growing demand for energy and replacing them with part of the demand and consumption of fossil fuels caused positive economic effects on short-term and long-term contribution with different shares. Therefore, improvement of macroeconomic indicators is one of main reasons for the development of programs and policies to increase energy production from renewable resources by the different countries.

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Main Subjects

References

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Strategic Studies of public policy
Volume 7, Issue 24
Special Issue of Foreign Policy and Energy
November 2017
Pages 137-158

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