Abstract
The world’s ever-increasing population, combined with economic and technological growth and a new, modern way of life, has led to high energy demand and consumption. Fossil fuels have been the main energy source for many years, but their use has many negative impacts on the environment. This has made the transition to renewable energy sources necessary in order to address climate change and meet the 1.5 °C goal. This paper is a review of the different types of renewables, their potentials and limitations, and their connection to climate change, economic growth, and human health. It also examines consumers’ willingness to pay for renewables in different countries, based on the existing literature. IEA (International Energy Agency) data are analyzed, concerning renewables’ current use, the evolution of their usage, and forecasts about their future usage. Finally, policies and strategies are recommended in order to address climate change and fully integrate renewables as a sustainable energy source.
Highlights
Energy is vital for the satisfaction of basic human needs
This paper examines the potentials and limitations of renewable energy sources and the advantages and disadvantages of their usage in relation to the environment, climate change, and economic growth
Renewable energy sources have a significant number of potentials and advantages. They can improve the environmental quality, since they produce little or no GHG emissions. They distribute energy and solve energy security and energy poverty problems, since they can be found in almost every place on earth, while they can be considered as a reliable energy source, compared to fossil fuels
Summary
Energy is vital for the satisfaction of basic human needs. It is essential for human health, everyday living, communications and mobility and, in general, economic and social development and well-being [1]. The negative impact of fossil fuels on the environment has been known for a long time Their burning and usage lead to large emissions of greenhouse gases into the atmosphere, which is a direct cause of global warming and climate change [6]. This paper examines the potentials and limitations of renewable energy sources and the advantages and disadvantages of their usage in relation to the environment, climate change, and economic growth. It presents the customers’ Willingness to Pay (WTP) for renewable energy sources in different countries, as it was calculated by other studies in the recent literature. It analyzes data that concern the evolution of their usage in the past and the projections of their future usage
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