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Energy Economics

Concepts, Issues, Markets and Governance

  • © 2019
  • Latest edition
  • Subhes C. Bhattacharyya 0

Institute of Energy and Sustainable Development, De Montfort University, Leicester, UK

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  • Revised and updated to include recent developments such as the changes in the global economy and oil prices as well as the Paris Agreement
  • Provides a reader-friendly discussion of the topics to make the book accessible for those without specific knowledge of energy
  • Offers examples from a range of sectors, including industry, transport, and residential consumers
  • Introduces sophisticated methods of demand forecasting
  • Written by an expert in energy economics

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About this book

This book provides an updated and expanded overview of basic concepts of energy economics and explains how simple economic tools can be used to analyse contemporary energy issues in the light of recent developments, such as the Paris Agreement, the UN Sustainable Development Goals and new technological developments in the production and use of energy. 

The new edition is divided into four parts covering concepts, issues, markets, and governance. Although the content has been thoroughly revised and rationalised to reflect the current state of knowledge, it retains the main features of the first edition, namely accessibility, research-informed presentation, and extensive use of charts, tables and worked examples.

This easily accessible reference book allows readers to gain the skills required to understand and analyse complex energy issues from an economic perspective. It is a valuable resource for students and researchers in the field of energy economics, as well asinterested readers with an interdisciplinary background.

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research topics in energy economics

Introduction: Dynamics of Energy, Environment, and Economy; A Sustainability Perspective

research topics in energy economics

Energy Technology, Policy and Valuation

research topics in energy economics

Smart Grid Economics

  • Energy economics textbook
  • Energy Markets
  • Energy Pricing
  • Paris Agreement
  • Energy Security
  • Pollution Control
  • Climate Change
  • Climate change management

Table of contents (28 chapters)

Front matter, introduction to energy economics.

Subhes C. Bhattacharyya

Economic Concepts Applied to the Energy Sector

Energy data and energy balance, energy demand analysis, sectoral energy demand analysis, energy demand forecasting, economic analysis of energy investments, economics of non-renewable energy supply, the economics of renewable energy supply, energy pricing and taxation, the economics of environment protection, the economics of climate change, overview of challenges facing the energy sector, energy and sustainable development, energy security issues, impact of price volatility, energy investment issues, energy access, authors and affiliations, about the author.

Professor Subhes Bhattacharyya is an internationally respected energy specialist at De Montfort University, UK, working on global energy–environment issues. He specialises in energy, regulatory, and environmental studies from a multidisciplinary perspective, taking technoeconomic, governance, and management and policy aspects into consideration. He has been involved in the energy sector in various capacities for more than 25 years, including graduate-level teaching and research and industry experience. Subhes mainly focuses on applied, interdisciplinary research on developing economies, particularly energy and environmental issues in South and South East Asia (especially India, Thailand and Vietnam). He has worked extensively on energy sector management issues such as energy sector regulation and restructuring in developing countries, and policy matters related to reconciling energy security and climate changes, and energy access. His research involves various models, including end-use, long-range energy–environment system modelling, operations research and other decision support systems as well as regulatory and investment analysis tools.

Bibliographic Information

Book Title : Energy Economics

Book Subtitle : Concepts, Issues, Markets and Governance

Authors : Subhes C. Bhattacharyya

DOI : https://doi.org/10.1007/978-1-4471-7468-4

Publisher : Springer London

eBook Packages : Economics and Finance , Economics and Finance (R0)

Copyright Information : Springer-Verlag London Ltd., part of Springer Nature 2019

Hardcover ISBN : 978-1-4471-7467-7 Published: 14 November 2019

Softcover ISBN : 978-1-4471-7470-7 Published: 14 November 2020

eBook ISBN : 978-1-4471-7468-4 Published: 02 November 2019

Edition Number : 2

Number of Pages : XXI, 849

Number of Illustrations : 82 b/w illustrations, 261 illustrations in colour

Topics : Industrial Organization , Energy Policy, Economics and Management , Organization , Renewable and Green Energy , Climate Change Management and Policy

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Articles on Energy economics

Displaying 1 - 20 of 28 articles.

research topics in energy economics

Known unknowns: controversy over CSIRO’s electricity report reveals an uncomfortable truth

Bruce Mountain , Victoria University

research topics in energy economics

Why cheap renewables are stalling

Jack Marley , The Conversation

research topics in energy economics

If the first solar entrepreneur hadn’t been kidnapped, would fossil fuels have dominated the 20th century the way they did?

Sugandha Srivastav , University of Oxford

research topics in energy economics

3 reasons US coal power is disappearing – and a Supreme Court ruling won’t save it

Rebecca J. Davis , Stephen F. Austin State University

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As the world moves away from fossil fuels, Canada’s energy security may be at risk

Noha Razek , University of Regina

research topics in energy economics

Climate change: how economists underestimated benefits of action for decades

Dimtri Zenghelis , University of Cambridge

research topics in energy economics

Utilities are starting to invest in big batteries instead of building new power plants

Jeremiah Johnson , North Carolina State University and Joseph F. DeCarolis , North Carolina State University

research topics in energy economics

The nuclear industry is making a big bet on small power plants

Scott L. Montgomery , University of Washington

research topics in energy economics

To slow climate change, the US needs to address nuclear power’s dismal economics

Tim Profeta , Duke University

research topics in energy economics

Macron’s pledge to wipe out coal is just as meaningless as Trump’s plan to revive it

Jay L. Zagorsky , The Ohio State University

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Why OPEC’s gambit to raise oil prices might not work

Gürcan Gülen , The University of Texas at Austin

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BP’s extreme climate forecast puts energy giant in a bind

Roger Dargaville , The University of Melbourne ; Annabelle Workman , The University of Melbourne ; Changlong Wang , The University of Melbourne ; Dimitri Lafleur , The University of Melbourne ; Dylan McConnell , The University of Melbourne ; Martin Wainstein , The University of Melbourne , and Ryan Alexander , The University of Melbourne

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Mexican energy reform may be a bridge to a low carbon economy – or a fossil fuel past

Baltazar Solano Rodriguez , UCL

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Energy efficient homes could help Treasury balance the books

Grant Wilson , University of Sheffield

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Those crying Not Under My Back Yard must not call the shots on fracking

Mark Shackleton , Lancaster University

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US-style fracking success far from guaranteed on British soil

Andrew Aplin , Durham University

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Do solar power subsidies benefit rich homeowners at the expense of the poor?

Christopher Emmott , Imperial College London

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Back to the CEGB? Greater central control of UK energy may be inevitable

John Rhys , University of Oxford

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British hi-tech engineering is more successful than you think

Jim Platts , University of Cambridge

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Budget 2014: short-term gains for business, bad news for the environment

Jim Watson , UK Energy Research Centre

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A new energy economy is emerging

  • Executive summary
  • Key themes of WEO 2021
  • Introduction
  • Scenario trajectories and temperature outcomes
  • Keeping the door to 1.5 °C open
  • Energy consumers of tomorrow
  • Mobilising investment and finance
  • People centred transitions
  • Phasing out coal
  • Prices and affordability
  • Energy security and the risk of disorderly change
  • Fuels: old and new

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IEA (2021), World Energy Outlook 2021 , IEA, Paris https://www.iea.org/reports/world-energy-outlook-2021

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There are unmistakeable signs of change. In 2020, even as economies sank under the weight of Covid-19 lockdowns, additions of renewable sources of energy such as wind and solar PV increased at their fastest rate in two decades, and electric vehicle sales set new records. A new energy economy is coming into view, ushered forward by policy action, technology innovation and the increasing urgency of the need to tackle climate change. There is no guarantee that the emergence of this new energy economy will be smooth, and it is not coming forward quickly enough to avoid severe impacts from a changing climate. But it is already clear that tomorrow’s energy economy promises to be quite different from the one we have today.

Electricity is taking on an ever-more central role in the lives of consumers and, for an increasing number of households, it promises to become the energy source on which they rely for all their everyday needs: mobility, cooking, lighting, heating and cooling. The reliability and affordability of electricity is set to become even more critical to all aspects of people’s lives and well-being.

Electricity’s share of the world’s final consumption of energy has risen steadily over recent decades, and now stands at 20%. Its rise accelerates in future years as the pace of transitions picks up. In the NZE, electricity accounts for around 50% of final energy use by 2050 (around 30% in the APS). Given that electricity delivers useful energy services with better efficiency than other fuels, the contribution of electricity is even higher than these numbers would suggest.

The rise of electricity requires a parallel increase in its share of energy-related investment. Since 2016, global investment in the power sector has consistently been higher than in oil and gas supply. The faster that clean energy transitions proceed, the wider this gap becomes, and as a result electricity becomes the central arena for energy-related financial transactions. In the NZE, investment in power generation and infrastructure is six-times higher than in oil and gas supply by 2030.

Clean technologies in the power sector and across a range of end-uses have become the first choice for consumers around the world, initially due to policy support but over time because they are simply the most cost-effective. In most regions, solar PV or wind already represents the cheapest available source of new electricity generation. Based on total costs of ownership, the case for electric cars in many markets is already a compelling one.

In the new energy economy, the huge market opportunity for clean technology becomes a major new area for investment and international competition; countries and companies jostle for position in global supply chains. We estimate that, if the world gets on track for net zero emissions by 2050, then the annual market opportunity for manufacturers of wind turbines, solar panels, lithium-ion batteries, electrolysers and fuel cells grows tenfold to USD 1.2 trillion by 2050, around 3.5-times larger than in the STEPS. These five elements alone would be larger than today’s oil industry and its associated revenues. 

The new energy economy involves varied and often complex interactions between electricity, fuels and storage markets, creating fresh challenges for regulation and market design. A major question is how to manage the potential for increased variability on both the demand and supply sides of the energy equation. The variability of electricity supply will be affected by rising shares of wind and solar PV, putting a huge premium on robust grids and other sources of supply flexibility. The variability of demand will be shaped by increasing deployment of heat pumps and air conditioners (the latter especially in developing economies, where current ownership levels are low), and could be exacerbated by poorly sequenced recharging of EV fleets or by cold snaps, heat waves or other extreme weather events. Without effective policies to prepare for and manage these fluctuations, the daily variation of demand could increase on the basis of announced pledges to 270 gigawatts (GW) in the European Union (from 120 GW today) and over 170 GW in India (from 40 GW) by mid-century.

Digital technologies play crucial roles in integrating different aspects of the new energy system. Sectors that have hitherto operated largely independently (such as electricity and transport) become connected in new ways with the rise of electric mobility, and grids need to cope with a much greater diversity and complexity of flows as many new players, including households, enter the arena as producers. Managing the platforms and data required to keep this system operating effectively becomes a central part of the new energy economy, as does mitigating associated cybersecurity and data privacy risks.

Clean electrification is the dominant theme in the early phases of the transformation of the global energy economy together with the quest for improvements in efficiency. Over time, however, continued rapid deployment in these areas needs to be accompanied by clean energy innovation and the widespread use of technologies that are not yet readily available on the market. These technologies are vital to decarbonise areas such as heavy industry and long-distance transport that are not readily susceptible to electrification for one reason or another, and they include advanced batteries, hydrogen electrolysers, advanced biofuels, and new technologies for the capture and use of CO 2 , including direct air capture. Building these additional pillars of the new energy economy requires early and sustained investment in energy R&D and an accelerated programme of demonstration projects.

These changes redirect global flows of trade and capital . The combined share of hydrogen and critical minerals (such as lithium, cobalt, copper and rare earths elements) in global energy-related trade rises to one-quarter of the total in the APS, and takes a dominant share in the NZE as the value of fossil fuels trade declines significantly. This completely upends the present dynamics of international energy-related trade, and it is accompanied by a major shift in energy-related financial flows: the decline in the value of trade in fossil fuels causes the dollar-denominated revenues accruing to producer economies from oil and gas exports to decline significantly over time.

The new energy economy depicted in the NZE is a collaborative one in which countries demonstrate a shared focus on securing the necessary reductions in emissions, while minimising and taking precautions against new energy security risks. However, the APS highlights the possibility of new divisions and fragmentation as countries proceed at different speeds through energy transitions. By the 2030s, for example, the APS sees the production of “green” steel in economies that have pledged to reach net zero alongside the continuing use of traditional emissions-intensive methods elsewhere, deepening tensions around trade in energy-intensive goods. There could be a gulf too in international investment and finance: increasingly stringent disciplines applicable to financial flows may mean that capital from the “net zero” world does not flow very freely to countries undergoing slower transitions. Successful, orderly and broad-based transitions in which countries enjoy the benefits of global trade will depend on finding ways to lessen and manage the potential tensions in the international system that are highlighted in the APS.

Sizing the market opportunity for clean energy

Achieving net zero emissions requires an unparalleled increase in clean energy investment. In the NZE, annual investment in clean energy rises to USD 4 trillion by 2030, more than tripling from current levels. Mobilising such a large investment will be challenging, but the investment required to secure clean energy transitions offers an unprecedented level of market opportunities to equipment manufacturers, service providers, developers and engineering, procurement and construction companies along the entire clean energy supply chain.

In the NZE, the combined size of the market for wind turbines, solar panels, lithium-ion batteries, electrolysers and fuel cells represents a cumulative market opportunity to 2050 worth USD 27 trillion. At over 60% of the total, batteries account for the lion’s share of the estimated market for clean energy technology equipment in 2050. With over 3 billion electric vehicles (EVs) on the road and 3 terawatt-hours (TWh) of battery storage deployed in the NZE in 2050, batteries play a central part in the new energy economy. They also become the single largest source of demand for various critical minerals such as lithium, nickel and cobalt.

Estimated market sizes for selected clean energy technologies by technology and region, 2020-2050

Advanced economies and China have been building up their research and development (R&D) programmes and increasing spending on clean energy innovation, but patterns of spending will change as deployment expands everywhere in the world. In the NZE, the Asia Pacific region is home to 45% of the estimated market for clean energy technologies by 2050, and the share of the market accounted for by North America and Europe is lower than it was earlier in the period.

Many countries are seeking to develop manufacturing expertise and capabilities that would allow them to use some locally produced products to meet domestic demand, and also to participate in global supply chains and to license related intellectual property. Energy start-up companies have an important part to play in this. Despite the pandemic, record-breaking levels of capital have flowed to clean energy technology start-ups, with investment in 2021 expected to surpass the USD 4 billion in early-stage equity raised in 2019, which was the previous peak year. The United States still accounts for around half of the capital being invested, but Europe was the only major region to increase investment in 2020 and China’s share of the market has risen from 5% in the 2010-14 period to over 35% in the last three years.

Governments everywhere are also actively seeking to attract additional talent. India and Singapore have launched government initiatives to support international clean energy entrepreneurs. China, Japan and United States have recently made high-level commitments to energy R&D and innovation, framing it as a critical area of technological competition in coming years. In Europe, public initiatives like the European Battery Alliance are actively seeking to create new value chains. There is a momentous opportunity for the best innovators to capture a share of emerging value chains that have huge future potential.

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Energy, Economy, and Climate Interactions: Challenges and Opportunities

Loading... Editorial 16 October 2023 Editorial: Energy, economy, and climate interactions: challenges and opportunities Chuanbao Wu , Xander Wang  and  Lirong Liu 637 views 0 citations

research topics in energy economics

Original Research 25 April 2023 Research on the risk evaluation of enterprises' carbon compliance failure Xu Wang ,  1 more  and  Wei Li 1,227 views 1 citations

Loading... Review 23 February 2023 The development of green finance under the goal of carbon neutrality: A review from China’s perspective Yawei Xue ,  2 more  and  Yingying Ma 3,370 views 7 citations

Original Research 20 February 2023 Evolution trend and hot topic measurement of climate migration research under the influence of climate change Bing Liang ,  3 more  and  Min Zhou 3,434 views 3 citations

Original Research 19 January 2023 Embodied carbon transfers and employment-economic spillover effects in China’s inter-provincial trade Dewei Yang ,  7 more  and  Weijing Ma 1,790 views 2 citations

Original Research 19 January 2023 Green urbanization efficiency of 18 urban agglomerations in China: Evidence from spatial–temporal evolution Xiaofei Lv  and  Lu Wang 827 views 0 citations

Original Research 13 January 2023 Carbon footprint of black tea products under different technological routes and its influencing factors Congguang Zhang ,  2 more  and  Xiong Yang 2,900 views 2 citations

Original Research 13 January 2023 A characteristics analysis of carbon emission based on multi-dimensional carbon emission accounting methods and structural decomposition analysis: A case study of Beijing, China QingHua Li  and  Cong Chen 1,412 views 2 citations

Original Research 06 January 2023 Exploring the wicked problem dilemmas and driving mechanism of green transition: Evidence from the Yellow River Basin, China Weiwei Xie ,  1 more  and  Tianlin Jin 876 views 0 citations

Original Research 04 January 2023 Development of greenhouse gas emissions baseline and identification of carbon offset cost for maritime vessels of a developing country Basra Semab ,  2 more  and  Muhammad Atiq Ur Rehman Tariq 2,208 views 1 citations

Loading... Original Research 14 September 2022 Does the growth of the digital economy boost the efficiency of synergistic carbon-haze governance? evidence from China Bin Zhou ,  3 more  and  Jiawei Liu 3,231 views 22 citations

Original Research 25 August 2022 Spatial imbalance and factors influencing carbon emission efficiency in China’s transport industry Qifei Ma ,  1 more  and  Haibo Kuang 1,538 views 3 citations

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EERE SETO Postdoctoral Research Award 2018

The Energy Efficiency and Renewable Energy (EERE) Postdoctoral Research Awards are intended to be an avenue for significant energy efficiency and renewable energy innovation. The EERE Postdoctoral Research Awards are designed to engage early career postdoctoral recipients in research that will provide them opportunities to understand the mission and research the needs of EERE and make advances in research topics of importance to EERE programs. Research Awards will be provided to exceptional applicants interested in pursuing applied research to address topics listed by the EERE programs sponsoring the Research Awards.

Applicants may select one research proposal on one research topic. Proposals must be approved by the research mentor listed in the application. 

Solar Energy

S-501 Applying Data Science to Solar Soft Cost Reduction

Possible disciplines: Economics, computer science, business management

The emergence of new big data tools can revolutionize how solar technologies are researched, developed, demonstrated, and deployed. From computational chemistry and inverse material design to adoption, reliability, and correlation of insolation forecasts with load use patterns, data scientists have opportunities to dramatically impact the future scaling of solar energy.

EERE's Solar Energy Technologies Office (SETO) is seeking to support postdoctoral researchers to apply and advance cutting-edge data science to drive toward the national solar cost reduction goals.

Areas of interest include:

  • Novel analysis of Green Button (smart meter) and PV performance data with the Durable Module Materials (DuraMAT) Consortium.
  • Power system planning and operation modeling to better understand the performance of solar generation assets on both the transmission and distribution grid.
  • Quantification of direct and total system cost and benefits of distributed energy generation and storage, especially as related to reliability and resiliency.
  • Data analytics for prediction of solar generation and PV system performance.
  • Computational methods for revealing insights about diffusion of solar technologies at the residential, commercial, and utility scales that integrate large administrative, geospatial, economic, and financial datasets.
  • Data tools for advancing photovoltaic (PV) and concentrating solar power (CSP) to reduce the non-hardware-related costs for solar energy. Specifically this could include work related to transactive energy value, such as analysis of the potential for PV and CSP to act autonomously in response to different grid and market signals and/or creating software that can perform these activities, as well as other novel topics not included here.
  • Studies of the impact of federal government funding of solar technologies and programs (e.g. connecting scientific articles, patents, and commercial press releases to understand how federal R&D dollars in clean energy are communicated to and understood by the marketplace).

S-502 Solar Systems Integration

Possible disciplines: Power systems engineering, electrical engineering, computer science, mechanical engineering, atmospheric sciences

The Systems Integration program of SETO aims to address the technical and operational challenges associated with connecting solar energy to the electricity grid. We seek postdoctoral research projects that will help address significant challenges in the following areas:

  • Planning and operation models and software tools are essential to the safe, reliable and resilient operation of solar PV on the interconnected transmission and distribution grid, especially for understanding how power flows fluctuate due to clouds or other fast-changing conditions, as well as interacting with multiple inverter-based technologies.
  • Sensors and cybersecurity communication infrastructures and big data analytics enable visibility and situational awareness of solar resources for grid operators to better manage generation, transmission and distribution, and consumption of energy, especially in the face of man-made or natural threats.
  • Higher solar PV penetration will require more advanced protection systems in distribution grids given that normal power flow (and fault current) are no longer unidirectional. Directional and distance relays may no longer operate as expected with inverter-based distributed energy resources.
  • Cybersecurity for PV systems integration into utility operations, such as isolated layers of trust and mutual authentication. Advanced PV cybersecurity may be needed to ensure access control, authorization, authentication, confidentiality, integrity, and availability for the future smart grid.
  • Power electronic devices, such as PV inverters and relevant materials, are critical links between solar panels and the electric grid, ensuring reliable and efficient power flows from solar generation.
  • Integrating solar PV with energy storage would help to enable more flexible generation and grid and provide operators more control options to balance electricity generation and demand, while increasing resiliency. When combined with the capability to island from the area power grid, solar -- plus energy storage microgrids -- support facility resiliency. Resiliency is particularly needed for strengthening the security and resilience of the nation's critical infrastructure (e.g. for safety, public health and national security.)
  • The ability to better predict solar generation levels can help utilities and grid operators meet consumer demand for power and reliability.

S-503 Concentrating Solar Thermal for Electricity, Chemicals, and Fuels

Possible disciplines: Mechanical engineering, chemical engineering, materials science

Concentrating solar power (CSP) technologies use mirrors or other light collecting elements to concentrate and direct sunlight onto receivers.[1]  These receivers absorb the solar flux and convert it to heat. The heat energy may be stored until desired for dispatch to generate electricity, synthesize chemicals, desalinate water or produce fuels, among other applications. The dispatchable nature of solar thermal energy derives from the relative ease and cost-effectiveness of storing heat for later use, for example, when the sun does not shine or when customer demand increases or time value premiums warrant. Heat and/or extreme UV intensities from sunlight may also be used to synthesize chemicals or produce fuels. The ability to produce heat for chemical processes without the added cost of fuel and to shift electricity production to alternative energy forms can provide benefits. To realize these benefits operations must be efficient and cost-effective.

SETO seeks to develop processes that can occur at a competitive cost compared to traditional synthetic routes. Careful analysis of integrated solar thermochemical systems will be required due to the complexity of most chemical processes and the typically thin profit margins in commodity chemical markets.

Topics of interest include, but are not limited to:

  • Novel thermochemical materials or cycles for high volumetric energy density storage systems (with accessible thermal energy storage densities > 3000 MJ/m3 of storage media). Of particular interest are designs that are capable of cost-effective, simple, periodic recovery from performance degradation.
  • Novel concepts for using solar thermal sources to produce value-added chemicals, such as ammonia, methanol, dimethyl ether or other chemicals for which there is a sizeable market.
  • Innovative catalysts, materials, and reactor designs to enhance the thermochemical conversion processes.
  • Development of thermal transport systems and components. Generally, proposed innovations should support a 50% efficient power cycle (or other highly efficient end use), a 90% efficient receiver module, and multiple hours of thermal energy storage with 99% energetic efficiency and 95% exergetic efficiency, while minimizing parasitic losses. Novel concepts should also be compatible with 30 years of reliable operation at the targeted temperature conditions.

This is a broad call and postdoctoral applicants interested in using heat from solar installations to create value-added products at a national scale are encouraged to apply.

Stekli, J.; Irwin, L.; Pitchumani, R.  “Technical Challenges and Opportunities for Concentrating Solar Power With Thermal Energy Storage,” ASME Journal of Thermal Science Engineering and Applications; Vol. 5, No. 2; Article 021011; 2013; http://dx.doi.org/10.1115/1.4024143.

S-504 Photovoltaic Materials, Devices, Modules, and Systems

Possible disciplines: Materials science and engineering, electrical engineering, chemical engineering, applied physics, physics, chemistry

In photovoltaic hardware, substantial materials and system challenges remain in many current and near-commercial technologies.  Research projects are sought in applied and interdisciplinary science and engineering to improve the performance and reliability of photovoltaic materials, devices, modules, and systems in order to drive down energy costs.  Areas of interest include:

  • New module architectures, module components, and innovative cell designs that enable modules to produce more electricity at lower cost and improved reliability; modules that are compatible with higher system voltage and/or have improved shading tolerance especially in monolithically integrated thin-film modules.
  • Development or adaptation of new characterization techniques to evaluate defects and increase collection efficiency of absorber materials or interfaces. Projects should expand understanding of effective methods to control material quality in order to improve PV device efficiency and stability.
  • Scalable, high-speed measurement and characterization methods and tools for cells, modules, panels and systems.
  • Fundamental understanding of degradation mechanisms in PV devices, modules and systems. Development of models based on fundamental physics and material properties to predict PV device or module degradation and lifetime in order to enable shorter testing time and high-confidence performance prediction.
  • Cost-effective methods to recycle PV modules and related components that can be implemented into the current recycling infrastructure or module architectures designed for improved recyclability.
  • Stable, high-performance photovoltaic absorber materials and cell architectures to enable module efficiencies above 25% while reducing manufacturing costs.
  • Transparent electrodes and carrier selective contacts to enable low-cost cell and module architectures amenable to mass production.
  • Low-cost materials and high throughput, low cost processes for current collection and transport.

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Linking environmental sustainability and financial resilience through the environmental footprints and their determinants: a panel data approach for g7 countries.

research topics in energy economics

1. Introduction

2. literature review.

Click here to enlarge figure

3. Model and Methodology

3.1. entropy weighted method, 3.2. model construction, 4. results and discussion, 4.1. descriptive analysis, 4.2. correlation matrix, 4.3. cross-sectional dependency, 4.4. pedroni test for cointegration, 4.5. fully modified ordinary least squares, 4.6. robustness test, 4.7. discussion, 5. conclusions and policy recommendations, recommendations and limitations, author contributions, data availability statement, conflicts of interest.

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S. NoVariablesNotationIndicatorsSource LinkLiterature
1Environmental FootprintsEFPEcological Footprint [ ]
2Green GrowthGGGDP, Nitrous oxide emissions in the energy sector (% of total), CO , PM2.5 pollution, population exposed to levels exceeding WHO Interim Target-1 value (% of total), Industrial waste Resource consumption, Solid waste emissions [ ]
3Financial RiskFRTotal debt service (% of exports of goods, services, and primary income) [ ]
4Technological InnovationTIMedium and high-tech exports (% manufactured exports) [ ]
6Financial InclusionFIAutomated teller machines (ATMs) (per 100,000 adults) [ ]
7UrbanizationURBUrban Population [ ]
8IndustrializationINDIndustry (including construction), value added (annual % growth) [ ]
9Human Capital DevelopmentHCDHuman Development Index [ ]
VariablesObservationsMeanStandard DeviationMinimumMaximum
2316.7321.3217.98117.932
2310.6340.0230.0300.0024
23115.34112.0035.00399.934
2313.3562.3013.8967.006
2313.2340.8230.0975.561
2313.0450.0060.0045.831
2313.454.2815.0813.921
2313.1563.9312.4515.321
2315.6542.3123.2456.892
VIF
2.031
1.24−1.23 *1
1.252.34 *1.5221
1.29−1.62 *0.051.031
1.253.41 *0.82−1.92 *2.45 *1
2.56−2.83 *1.032.431.433.21 *1
2.02−0.34 *2.311.453.253.212.031
2.21−3.21 *2.023.120.930.430.320.921
2.130.420.820.520.821.912.810.971.231
Variable NameCD-TestProbabilityAver. Joint TMean PMean abs (p)
14.890.05140.030.34
105.910.00140.040.24
15.780.00140.030.34
3.090.05140.050.43
14.670.00140.330.54
54.560.00140.170.45
72.340.00140.210.67
37.890.00140.030.54
0.980.00140.20.78
TestValuep-Value
Δ21.46 *0.0000
Δ adjusted29.310.0000
Pesaran’s Cross ADFCross IPS Unit Root
VariablesI(0)I(1)I(0)I(1)
−1.233.21 **1.453.56 ***
−1.433.23 **2.12 **3.245 ***
2.122.89 **2.213.56 ***
−3.123.23 **1.673.87 ***
−1.453.45 ***1.833.78 **
−1.22 **3.23 ***1.82 **3.67 **
3.213.41 ***1.463.89 **
1.023.67 **2.693.67 **
2.813.45 **1.953.68 **
t-StatProb.Result
Modified Phillips Perron test15.13230.0000“Cointegration Exists”
Modified Phillips Perron test−8.92410.0000“Cointegration Exists”
Augmented Dickey–Fuller test−8.72710.0000“Cointegration Exists”
Variable EFPCoefficientsStd. Errort-StatisticsProb.
−6.092410.000613−0.2333270.0725
−0.050344.1496171.3725620.0264
−0.24510.0129862.3277690.0023
0.042510.01415−9.3932420.002
0.034120.0164613.485640.0003
0.029940.0047836.2603030.00
0.029940.0047836.260303
0.029940.0047836.260303
R 0.66464 dependent variable 11.33871
Adj. R 0.570456Standard deviation dependent variable 1.632583
Standard error0.10454SSR 16.05428
Long run 0.035672
Variable EFPCoefficientsStandard Errort-StatisticsProbability
−3.92344.15370.9445580.034
0.0002590.0005890.4392150.066
−0.0995390.012282−8.104620.00
0.0233490.0126611.8441560.065
0.0719740.0150724.7753720.00
0.029940.0047836.2603030.00
0.029940.0047836.260303
0.029940.0047836.260303
R 0.56442 dependent variable 11.33871
Adj. R 0.570456Standard deviation dependent variable 1.632583
Standard error0.20344SSR 16.05428
Long run 0.035672
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Share and Cite

Lian, T.; Li, C. Linking Environmental Sustainability and Financial Resilience through the Environmental Footprints and Their Determinants: A Panel Data Approach for G7 Countries. Sustainability 2024 , 16 , 7746. https://doi.org/10.3390/su16177746

Lian T, Li C. Linking Environmental Sustainability and Financial Resilience through the Environmental Footprints and Their Determinants: A Panel Data Approach for G7 Countries. Sustainability . 2024; 16(17):7746. https://doi.org/10.3390/su16177746

Lian, Tao, and Changhao Li. 2024. "Linking Environmental Sustainability and Financial Resilience through the Environmental Footprints and Their Determinants: A Panel Data Approach for G7 Countries" Sustainability 16, no. 17: 7746. https://doi.org/10.3390/su16177746

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