Affordable energy

Most. Asikha Aktar and Md. Mahmudul Alam

Chapter 1 in Elgar Encyclopedia of Energy Economics, 2025, pp 1-6 from Edward Elgar Publishing

Abstract: This entry explores the critical need for affordable energy in low-income countries, emphasising the importance of increasing income levels and reducing global economic impacts on energy costs. It highlights the potential of renewable energy sources, such as wind, hydropower, biomass, biofuels, solar, and geothermal energy, to provide cost-effective and sustainable power. The entry underscores the relationship between energy poverty and socioeconomic issues, noting that nearly a quarter of the global population lacks access to electricity, with significant disparities between urban and rural areas. The rising costs of fossil fuels and geopolitical factors further exacerbate energy poverty. The authors advocate for the adoption of renewable energy to meet the United Nations Sustainable Development Goals (SDGs), enhance economic growth, and reduce environmental impacts. They discuss the challenges of transitioning to renewable energy and propose strategies for overcoming these obstacles, including policy measures, technological advancements, and international cooperation.

Keywords: Renewable Energy; Energy Poverty; Sustainable Development Goals (SDGs); Energy Affordability; Carbon Emissions (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035310364
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