Wealth and Renewable Energy: The Growing Division Within the Energy Economy

Authors: Jesse Lane*, University of North Carolina at Greensboro
Topics: Economic Geography, Energy, Natural Resources
Keywords: Economics, renewable, energy, market, development
Session Type: Poster
Day: 4/5/2019
Start / End Time: 3:05 PM / 4:45 PM
Room: Lincoln 2, Marriott, Exhibition Level
Presentation File: Download

The economic viability of renewable energies has come to the forefront of research due to the rising concerns over carbon dioxide emissions. Research in this area has focused on the cost-effectiveness of renewable energy on an aggregated and individual level. There is a growing debate over the fossil fuel industry’s market control of energy production and economists are considering other alternatives to the leading energy suppliers. Some countries are diversifying national energy markets by using different forms of energy generation while other countries are continuing to depend on limited sources. This paper researches the changing dynamics in the global generation of renewable energy and how this relates to gross domestic product. Findings suggest that the energy divide between core and periphery countries is increasing. Developed countries have the financial capital to promote the change from fossil fuels to renewable energy production while developing countries find it difficult to get the appropriate capital for energy diversification. Policy initiatives by developed and developing countries should speak to this growing division and provide practical solutions to these issues.

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