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Renewable Energy and its Importance on the International Level

Ivan Dimitrov
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Ivan Dimitrov: University of National and World Economy, Sofia, Bulgaria

Economic Alternatives, 2021, issue 3, 430-442

Abstract: The renewable energy is becoming more and more popular due to its role as a mean against the climate change. Therefore, its importance on international level is growing with every single day and a lot of funds are being invested in its development. But is the goal of zero emissions really feasible before year 2050? The answer could be found in the rise of the green energy. During the previous year the world has undergone many changes that have affected all spheres of public life, as well as the global economy. In times of crisis, the renewable energy has traditionally performed significantly better than its competitors – the fossil fuels. This analysis is intended to create a brief summary of the current situation about the renewable energy, its sources and the overall impact on the international business. The paper outlines some key factors about the green energy such as power capacity, global production, investments, key players and cultural factors for the future expansion. The findings were made through analysis and synthesis of empirical information, content analysis of various publications on economic and environmental topics. The results lead the logical conclusion that renewable energy will continue its future expansion.

Keywords: international business; renewable energy sources (search for similar items in EconPapers)
JEL-codes: F18 F23 F64 Q42 Q56 (search for similar items in EconPapers)
Date: 2021
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Handle: RePEc:nwe:eajour:y:2021:i:3:p:430-442