Impacts of El Nino on renewable energy industry and fishery and aquaculture industry around the pacific

Abstract

The effects of climate change on the world economy come into view in recent years, in El Nino is one of the most intricate and solid problems in predicting its occurrence and mitigating its effects. Former studies include its impacts on fishery and aquaculture, agriculture and major crops and the renewable energy market. Possible impacts include reproductive failure of fish, worsening well-being of people in coastal consortiums, decreasing production in maize, especially in warmer regions and decreasing efficiency and quantity of wind power production. Observed regions varied from the South American Coast and Peruvian waters to Malaysia, but neither of them compared the differences between each region as their major part. In this paper, fixed effects and dummy variable regression are used to evaluate El Ninos impact on fishery and renewable energy industries and contrast the differences between Japan, the USA and Australia. Results show that El Nino has a clear restraint on both industries but a stable increase in renewable energy production makes the relationship positive. Among the countries, Japan is the most restrained in both industries while the USA is the least affected. Among the different renewable energy sources, solar energy is promoted while hydro energy is restrained.