Management of environmental and economic tradeoffs for the optimization of renewable energy scheme

Abstract

ABSTRACT This study proposes a synergistic approach that aligns environmental sustainability with economic viability to meet the energy trilemma of energy security, affordability, and sustainability. Employing two qualitative methods-bibliometric analysis and systematic literature review- the research focused on Scopus-based articles related to renewable energy optimization using the VOSviewer software. The analysis revealed prevalent environmental tradeoffs in renewable energy schemes, including habitat loss, fragmentation, sediment transportation, and deforestation. Similarly, economic tradeoffs such as high initial costs, intermittency, reliability challenges, job security, resource scarcity, and supply chain risks were identified. Following a thorough examination, the study suggests solutions to manage these tradeoffs viz. strategic planning, continuous monitoring and adaptation, life cycle evaluation, policy and regulation implementation, and diversification of renewable energy sources. In conclusion, the study advocates a three-tiered recommendation for a smooth and predictable transition toward a secure energy future viz. integrated policy frameworks, and technological innovation.