Leading Aspects of Transition from the Traditional Energy to Renewable Energy Sources After the COVID-19 Pandemic

Khalida Sadigova, Farhad Aliyev and Matin Firuzi ()
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Khalida Sadigova: SABAH Center, Azerbaijan State University of Economics (UNEC)
Farhad Aliyev: SABAH Center, Azerbaijan State University of Economics (UNEC)
Matin Firuzi: SABAH Center, Azerbaijan State University of Economics (UNEC)

Chapter Chapter 24 in Leadership, Entrepreneurship and Sustainable Development Post COVID-19, 2023, pp 343-359 from Springer

Abstract: Abstract The growing demand for energy resources which represents the leading drivers of modern society tempts states and businesses to provide consumers with these resources. Energy resources are involved in many essential life processes of modern human beings. In fact, as much as energy resources are important in our life, still they are the main causes for pollution and climatic changes. Moreover, the depletion of the fossil fuels worldwide makes them scarce and costly. The idea of this research is to investigate the current situation in the world related to energy resources and present the ways how the alternative energy resources are applied and which policies related to expanding these sources are implemented in the post-pandemic era. We also discuss the role of the traditional sources of energy, like oil and gas; oil in modern society; and the advantages of using renewable energy sources after COVID-19. In addition, we show that the degree to which COVID-19 and its attendant disruptions to economic activity and reductions in demand can be expected to trigger a new wave of creative destruction and generate market-based incentives for the transition toward renewables remains to be observed. A quantitative and qualitative data were used in this paper for comparison of different case studies and countries. Some criteria as actuality, credibility, and the accuracy of information and reliability of sources are applied. Following that, the inquiry turned to the cases of numerous nations at varying levels of economic growth. Our results outline the need of converting to alternative energy as a means of tackling the climate change and sustaining the leading position in the world of the future.

Keywords: Renewable energy; Leadership; Energy transition (search for similar items in EconPapers)
JEL-codes: P50 Q20 Q42 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-28131-0_24

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DOI: 10.1007/978-3-031-28131-0_24

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