Does renewable energy modulate the negative effect of environmental issues on the socio-economic welfare?
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Renewable energy plays a crucial role in mitigating the negative effects of environmental issues on socio-economic welfare. By shifting towards renewable sources like solar, wind, hydro, biomass, and others, countries can reduce greenhouse gas emissions, improve air quality, and create sustainable employment opportunities. However, the transition to renewable energy sources also poses challenges such as increased demand for rare earth minerals, high recycling costs, and potential financial disruptions in fossil fuel-dependent industries. Social sustainability in renewable energy projects is vital, as it involves evaluating the welfare impacts on local communities, acknowledging their concerns, and quantifying negative impacts for a comprehensive assessment of economic viability, social equity, and environmental impact. Overall, renewable energy offers a pathway to address environmental issues while positively impacting socio-economic welfare.
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| Papers (5) | Insight |
|---|---|
21 Jan 2020 | Yes, renewable energy mitigates environmental issues, benefiting socio-economic welfare by reducing emissions and promoting sustainable development through job creation, improved health, and community development. |
Open access•Posted Content | Renewable energy power plants can impact socio-economic welfare differently based on location and type, highlighting the need to consider local residents' perspectives for a comprehensive sustainability analysis. |
19 Mar 2021 | Renewable energy mitigates environmental impacts but may increase demand for rare earth minerals, leading to negative socio-economic effects. Strong regulations and recycling can help address these challenges. |
6 Citations | Renewable energy technologies positively impact socio-economic welfare by mitigating environmental issues, as shown in the analysis of OECD countries' employment data and renewable energy productivity. |
| Renewable energy sources like solar, wind, hydro, and biomass can positively impact socio-economic welfare by mitigating environmental issues, as discussed in the paper. |
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