Towards 2050: Evaluating the Role of Energy Transformation for Sustainable Energy Growth in Serbia

Nemanja Backović, Bojan Ilić, Jelena Andreja Radaković (), Dušan Mitrović, Nemanja Milenković, Marko Ćirović, Zoran Rakićević and Nataša Petrović ()
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Nemanja Backović: Faculty of Organizational Sciences, University of Belgrade, 11000 Belgrade, Serbia
Bojan Ilić: Faculty of Organizational Sciences, University of Belgrade, 11000 Belgrade, Serbia
Jelena Andreja Radaković: Faculty of Organizational Sciences, University of Belgrade, 11000 Belgrade, Serbia
Dušan Mitrović: Faculty of Organizational Sciences, University of Belgrade, 11000 Belgrade, Serbia
Nemanja Milenković: Faculty of Organizational Sciences, University of Belgrade, 11000 Belgrade, Serbia
Marko Ćirović: Faculty of Organizational Sciences, University of Belgrade, 11000 Belgrade, Serbia
Zoran Rakićević: Faculty of Organizational Sciences, University of Belgrade, 11000 Belgrade, Serbia
Nataša Petrović: Faculty of Organizational Sciences, University of Belgrade, 11000 Belgrade, Serbia

Sustainability, 2024, vol. 16, issue 16, 1-22

Abstract: This paper aims to investigate the outlook of energy generation by means of transformation within the context of sustainable energy development. An analysis is conducted to assess the stability of energy systems so to implement cutting-edge energy production models at the national level, with a focus on a contemporary approach to energy modeling. Considering the energy transition and the existing constraints within the energy industry, the model assesses the feasibility of the practical advancement of renewable energy sources. The bottom-up energy model was used to determine how the components of energy development sustainability can be applied until the year 2050. To perform comparison testing with the reference state scenario, the LEAP energy model was used. This instrument was selected because of its ability to provide flexible and advanced options for selecting suitable parameters for energy transformation prediction. A progressive reduction in environmental pollution can be achieved by the deployment of current methods of energy generation by transformation until the year 2050 in Serbia, as indicated by the findings. The research highlights the significance of utilizing green energy sources for the continuing development of energy and the gradual reduction in environmental pollution through value co-creation.

Keywords: energy economics; energy transformation; energy efficiency; bottom-up modeling; LEAP modeling tool (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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