Abstract
Changes in global development benchmarks, the gradual depletion of natural resources, as well as global climatic changes are forcing economic actors around the world to look for alternative methods of energy production. The transition to them can be difficult due to the high cost of the produced energy and pressure from states and corporations specializing in the extraction of classical energy sources. The article is devoted to the study of the transition to renewable energy. The article uses a statistical analysis of indicators and makes a conclusion about the relationship between development trends. It is clear with a fair amount of confidence that the positive dynamics of the renewable energy market is leading to changes in the energy market in the USA, Europe and some other parts of the world. Keywords: renewable energy sources, export and consumption of fossil energy, alternative energy, resource economies. JEL Classifications: C10, E21, E23, Q41, Q42 DOI: https://doi.org/10.32479/ijeep.10902
Highlights
Due to the growing pace of introduction of new technologies within the renewable energy industry, which is reflected in the improvement of technologies for processing natural gas
One of the promising industries that is gradually starting to be introduced into practice in Australia and other countries is the use of biomass resources for the production of energy, including that obtained with the help of ethanol and other chemical compounds, which illustrates the wide variability of the industry development (Puri et al, 2012; Raison, 2006; Román-Leshkov et al, 2007)
In the context of the study, this information is a collection of materials illustrating the dynamics of energy production from various sources, the consumption of several types of fossil energy carriers, the volume of electricity produced from renewable resources and fossil fuels as a percentage of the total volume of produced energy in a particular region or country
Summary
Due to the growing pace of introduction of new technologies within the renewable energy industry, which is reflected in the improvement of technologies for processing natural gas. Additional difficulties for companies supplying fossil resources may arise due to the expansion of the use of alternative energy in developed countries, including the member states of the European Union, the United States, China and Australia. The latter has ample opportunities in the field of replacing the consumption of energy derived from fossil fuels due to that generated by solar radiation, geothermal processes (Siegel et al, 2014), sea waves and wind (Manasseh et al, 2017; Teske et al, 2016). One of the promising industries that is gradually starting to be introduced into practice in Australia and other countries is the use of biomass resources for the production of energy, including that obtained with the help of ethanol and other chemical compounds, which illustrates the wide variability of the industry development (Puri et al, 2012; Raison, 2006; Román-Leshkov et al, 2007)
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