Green Energy Policies and Their Economic Impacts on National Economies: A Comprehensive Analysis of Sustainability, Growth, and Equity

• Author(s): Veeranna S C
• Paper ID: 1701107
• Page: 377-389
• Published Date: 13-05-2019
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 2 Issue 10 April-2019

Abstract

The research paper provides a detailed exploration of how the implementation of green energy policies, aimed at promoting the adoption and development of renewable energy sources such as wind, solar, hydroelectric, and geothermal power, has profound economic implications for national economies, where the study critically examines the dual aspects of these policies, including their potential to drive technological innovation, foster the creation of new industries, and enhance energy security by reducing dependence on fossil fuels, which in turn can stabilize energy prices, reduce greenhouse gas emissions, and support long-term economic growth, as evidenced by studies like those of Stern (2007) and Acemoglu et al. (2012), who underscore the positive relationship between green energy investments and economic resilience; however, this abstract also addresses the challenges associated with green energy transitions, particularly the significant upfront costs required for developing renewable energy infrastructure and the economic disruptions that can occur in traditional energy sectors, which may lead to job losses and regional economic decline, especially in areas heavily reliant on fossil fuel industries, as highlighted by Sovacool (2009) and Hepburn (2010), and the abstract further emphasizes the need for a just transition that includes retraining programs, economic diversification strategies, and policies that ensure equitable access to the benefits of the green economy, thereby preventing the exacerbation of social inequalities, as discussed by Bowen and Kuralbayeva (2015); this study ultimately seeks to provide a comprehensive analysis of the ways in which green energy policies can be structured to balance the goals of sustainability, economic growth, and social equity, offering policy recommendations that are informed by empirical data and case studies from both developed and developing countries, thus contributing to the broader discourse on how nations can navigate the complexities of transitioning to a green economy in a manner that is both economically viable and socially inclusive.

Keywords

Green Energy Policies, Renewable Energy, Economic Growth, Sustainability, Just Transition, Energy Security

Citations

IRE Journals:
Veeranna S C "Green Energy Policies and Their Economic Impacts on National Economies: A Comprehensive Analysis of Sustainability, Growth, and Equity" Iconic Research And Engineering Journals Volume 2 Issue 10 2019 Page 377-389

IEEE:
Veeranna S C "Green Energy Policies and Their Economic Impacts on National Economies: A Comprehensive Analysis of Sustainability, Growth, and Equity" Iconic Research And Engineering Journals, 2(10)