Socioeconomic Importance of Renewable Energy Sources and Their Impacts on the Environment

Abstract

The global scenario is witnessing a shift in the energy transition from conventional sources such as coal, gas, oil, etc., towards renewable energy (RE) sources. Energy is the prerequisite of a strong economy, leading to better social well-being and alleviating poverty. The energy sector has been considered as a key factor to economic development, and the trend of electricity generation from renewable sources has been recording a changing scenario. These sources can be a promising solution to the increasing demand for energy for driving the production and economic growth ahead. Improvement in economic activity is directly linked to social improvement also, through local employment generation, which will help in the reduction of poverty, improvement of health condition, provision of opportunity for local business, etc. The impact of renewable energy on environmental aspects is reflected mostly in the greenhouse gas emissions and on human health related with it. Renewable energy technologies contribute to mitigating climate change and, when locally produced, decrease the national dependence on imported energy and increase local employment. The advantages from the transition towards the clean source of energy such as in employment, the welfare of society, and local industrial growth and its environmental benefits enhance its overall acceptability in global and regional societies.