The socioeconomic benefits of renewable energy projects

Ana Rosa Gamarra, Santacruz Banacloche Sánchez, Natàlia Caldés and Yolanda Lechón

Chapter 6 in Handbook on the Economics of Renewable Energy, 2023, pp 118-137 from Edward Elgar Publishing

Abstract: This chapter provides a review and also some concrete examples of case studies of renewable energy investments and policies using multiregional input-output models (MRIO). In addition, a section dedicated to the assessment of the external costs of RES technologies is included. It shows the relevance and wealth of information derived from such studies with four examples. The objective of the first study was to assess the sustainability impacts of specific renewable energy innovations. The second aimed to evaluate the employment impacts of alternative renewable technologies. The third study conducted a comparative assessment of national programmes of RES investments, and the fourth aimed to assess the socioeconomic impact at a regional level in Europe. Besides, the socioeconomic benefits of air pollution mitigation associated with RES penetration in the transport sector are also presented in a final example. One of the conclusions of this chapter is that, when time and resources allow for it, sound and scientific-based quantitative socioeconomic assessments are required to fully understand the magnitude and causality of such impacts in order to inform and guide investment decisions, design policies, implement measures to minimize adverse effects, boost positive impacts and raise awareness.

Keywords: Economics and Finance; Environment; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2023
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