Cost-Environment Trade-Off in Using Renewable Energy in an Energy System

Ehsan Haghi () and Grace Anne Thompson ()
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Ehsan Haghi: Musqueam Indian Band
Grace Anne Thompson: University of Waterloo

A chapter in Handbook of Smart Energy Systems, 2023, pp 3261-3280 from Springer

Abstract: Abstract The development of renewable energy capacity is of interest to many countries that seek the decarbonization of their energy systems. Renewable technologies such as wind power and solar PV reduce GHG emissions and health impacts from energy consumption. Wind and solar technologies, however, are intermittent sources of energy and do not provide the same services conventional technologies such as natural gas and nuclear do. This chapter is aimed at presenting an overview of the factors that affect the cost-environment trade-off in using renewable technologies, including the initial cost of the technology, the O&M cost, and the health and climate impact reduction potential. The chapter begins with an overview of the trend in renewable energy development and the policies implemented to accelerate that. Then, the advantages of renewable technologies and the challenges of a transition toward emission-free energy systems are discussed. The chapter continues by presenting an overview of the factors affecting the cost-environment trade-off of renewable technologies, including capital cost, O&M cost, backup generation requirements, and health and climate impact cost. To provide an insight into the future energy systems, this chapter concludes with a review of the literature focused on assessing the feasibility and cost-effectiveness of 100% renewable systems.

Keywords: Renewable electricity; GHG emission; Health impacts; Climate impacts; Levelized cost; Carbon cost; Wind power; Solar PV (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-97940-9_56

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DOI: 10.1007/978-3-030-97940-9_56

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