Special Issue "Assessment of Energy–Environment–Economy Interrelations"

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "Energy Economics and Policy".

Deadline for manuscript submissions: closed (30 November 2019).

Printed Edition Available!
A printed edition of this Special Issue is available here.

Special Issue Editor

Prof. Dr. George Halkos
Website
Guest Editor
Laboratory of Operations Research, Department of Economics, University of Thessaly, 28hs Octovriou 78, Volos 383 33, Greece
Interests: applied statistics and econometrics; simulations of economic modelling; environmental economics; applied micro-economic with emphasis in welfare economics; air pollution; game theory; mathematical models (non-linear programming)
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Special Issue Information

Dear Colleagues,

Energy consumption and economic growth have been of great interest to researchers and policy-makers. Knowledge of the actual causality relationship between energy and economy with respect to the environment has important implications for modelling environmental and growth policies. The development of new energy and environmental policies, the new climate regime, and the development of new scientific techniques provide enough space for further research. Projects on energy efficiency have been prioritized in the portfolio of policies of many countries, as these policies have been considered as no-regret options, meaning that they may even provide gains for the economy. In order to fill a gap in the literature, this Special Issue is intended to provide an analysis of the energy–environment–economy interrelations, with special attention to the potential role of energy and economic growth on the environment.

Prof. Dr. George Ε. Halkos
Guest Editor

Manuscript Submission Information

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Keywords

  • Economic Growth
  • Environment
  • Renewable energy
  • Conventional energy
  • Green Economy
  • Sustainability
  • Transport
  • Energy Funding and Investments

Published Papers (11 papers)

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Research

Open AccessArticle
Study on Global Industrialization and Industry Emission to Achieve the 2 °C Goal Based on MESSAGE Model and LMDI Approach
Energies 2020, 13(4), 825; https://doi.org/10.3390/en13040825 - 13 Feb 2020
Cited by 3
Abstract
The industrial sector dominates the global energy consumption and carbon emissions in end use sectors, and it faces challenges in emission reductions to reach the Paris Agreement goals. This paper analyzes and quantifies the relationship between industrialization, energy systems, and carbon emissions. Firstly, [...] Read more.
The industrial sector dominates the global energy consumption and carbon emissions in end use sectors, and it faces challenges in emission reductions to reach the Paris Agreement goals. This paper analyzes and quantifies the relationship between industrialization, energy systems, and carbon emissions. Firstly, it forecasts the global and regional industrialization trends under Representative Concentration Pathway (RCP) and Shared Socioeconomic Pathway2 (SSP2) scenarios. Then, it projects the global and regional energy consumption that aligns with the industrialization trend, and optimizes the global energy supply system using the Model for Energy Supply Strategy Alternatives and their General Environmental Impact (MESSAGE) model for the industrial sector. Moreover, it develops an expanded Kaya identity to comprehensively investigate the drivers of industrial carbon emissions. In addition, it employs a Logarithmic Mean Divisia Index (LMDI) approach to track the historical contributions of various drivers of carbon emissions, as well as predictions into the future. This paper finds that economic development and population growth are the two largest drivers for historical industrial CO2 emissions, and that carbon intensity and industry energy intensity are the top two drivers for the decrease of future industrial CO2 emissions. Finally, it proposes three modes, i.e., clean supply, electrification, and energy efficiency for industrial emission reduction. Full article
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Open AccessArticle
Measuring Impact of Uncertainty in a Stylized Macroeconomic Climate Model within a Dynamic Game Perspective
Energies 2020, 13(2), 482; https://doi.org/10.3390/en13020482 - 18 Jan 2020
Abstract
In this paper, we present a stylized dynamic interdependent multi-country energy transition model. The goal of this paper is to provide a starting point for examining the impact of uncertainty in such models. To do this, we define a simple model based on [...] Read more.
In this paper, we present a stylized dynamic interdependent multi-country energy transition model. The goal of this paper is to provide a starting point for examining the impact of uncertainty in such models. To do this, we define a simple model based on the standard Solow macroeconomic growth model. We consider this model in a two-country setting using a non-cooperative dynamic game perspective. Total carbon dioxide (CO2) emission is added in this growth model as a factor that has a negative impact on economic growth, whereas production can be realized using either green or fossil energy. Additionally, a factor is incorporated that captures the difficulties of using green energy, such as accessibility per country. We calibrate this model for a two-player setting, in which one player represents all countries affiliated with the Organization for Economic Cooperation and Development (OECD) and the other player represents countries not affiliated with the OECD. It is shown that, in general, the model is capable to describe energy transitions towards quite different equilibrium constellations. It turns out that this is mainly caused by the choice of policy parameters chosen in the objective function. We also analyze the optimal response strategies of both countries if the model in equilibrium would be hit by a CO2 shock. Also, here we observe a quite natural response. As the model is quite stylized, a serious study is performed to the impact several model uncertainties have on the results. It turns out that, within the OECD/non-OECD framework, most of the considered uncertainties do not impact results much. However, the way we calibrate policy parameters does carry much uncertainty and, as such, influences equilibrium outcomes a lot. Full article
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Open AccessArticle
Energy Commodities: A Review of Optimal Hedging Strategies
Energies 2019, 12(20), 3979; https://doi.org/10.3390/en12203979 - 18 Oct 2019
Cited by 1
Abstract
Energy is considered as a commodity nowadays and continuous access along with price stability is of vital importance for every economic agent worldwide. The aim of the current review paper is to present in detail the two dominant hedging strategies relative to energy [...] Read more.
Energy is considered as a commodity nowadays and continuous access along with price stability is of vital importance for every economic agent worldwide. The aim of the current review paper is to present in detail the two dominant hedging strategies relative to energy portfolios, the Minimum-Variance hedge ratio and the expected utility maximization methodology. The Minimum-Variance hedge ratio approach is by far the most popular in literature as it is less time consuming and computationally demanding; nevertheless by applying the appropriate multivariate model Garch family volatility model, it can provide a very reliable estimation of the optimal hedge ratio. However, this becomes possible at the cost of a rather restrictive assumption for infinite hedger’s risk aversion. Within an uncertain worldwide economic climate and a highly volatile energy market, energy producers, retailers and consumers had to become more adaptive and develop the necessary energy risk management and optimal hedging strategies. The estimation gap of an optimal hedge ratio that would be subject to the investor’s risk preferences through time is filled by the relatively more complex and sophisticated expected utility maximization methodology. Nevertheless, if hedgers share infinite risk aversion or if alternatively the expected futures price is approximately zero the two methodologies become equivalent. The current review shows that when evidence from the energy market during periods of extremely volatile economic climate is considered, both hypotheses can be violated, hence it becomes reasonable that especially for extended hedging horizons it would be wise for potential hedgers to take into consideration both methodologies in order to build a successful and profitable hedging strategy. Full article
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Open AccessArticle
Analysing the Energy Efficiency of EU Member States: The Potential of Energy Recovery from Waste in the Circular Economy
Energies 2019, 12(19), 3718; https://doi.org/10.3390/en12193718 - 28 Sep 2019
Cited by 5
Abstract
This paper examines energy efficiency across 28 selected European Union (EU) Member States and reviews the potential for energy recovery from waste according to the efficiency scores obtained. The efficiencies are assessed through data envelopment analysis (DEA) and the following variables are used, [...] Read more.
This paper examines energy efficiency across 28 selected European Union (EU) Member States and reviews the potential for energy recovery from waste according to the efficiency scores obtained. The efficiencies are assessed through data envelopment analysis (DEA) and the following variables are used, inputs: final energy consumption, labour, capital, population density and outputs: gross domestic product (GDP), nitrogen oxide (NOx) emissions, sulphur oxide (SOx) emissions and greenhouse gas (GHG) emissions for the years 2008, 2010, 2012, 2014 and 2016. Results show that most countries maintain their efficiency scores with only a few marginally improving theirs and at the same time, it is noticed that most are decreasing after 2012. Based on these efficiency scores, this paper recommends moving towards waste-to-energy with two main objectives, namely sufficient and sustainable energy production and effective treatment of municipal solid waste (MSW). This option would enhance the circular economy, whereas prioritization needs to be given to prevention, preparation for reuse, recycling and energy recovery through to disposal. Together with the EU Commission’s competition strategy, these options would ensure reliable energy supplies at rational prices and with the least environmental impacts. Moreover the efficiency scores need to be examined along the financial crisis which has been affecting the EU since 2008, showing a decrease in those efficiency scores after 2012 under a more imminent crisis. Full article
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Open AccessArticle
Cost Allocation Mechanism Design for Urban Utility Tunnel Construction Based on Cooperative Game and Resource Dependence Theory
Energies 2019, 12(17), 3309; https://doi.org/10.3390/en12173309 - 28 Aug 2019
Cited by 4
Abstract
The urban utility tunnel presents solutions for the sustainable development of urban underground space, and is an important carrier of power distribution network and integrated energy systems. Considering the high investment cost of utility tunnels and the limitations of traditional cost sharing methods [...] Read more.
The urban utility tunnel presents solutions for the sustainable development of urban underground space, and is an important carrier of power distribution network and integrated energy systems. Considering the high investment cost of utility tunnels and the limitations of traditional cost sharing methods (i.e., spatial proportional method, direct-laying cost method and benefit-based proportional method), it is of great significance to establish a fair and practical cost sharing mechanism. First, an improved Shapley value-based spatial proportional method is proposed. A comprehensive decision-making mechanism for utility tunnel construction cost allocation is established by using the improved spatial proportion, the life-cycle direct-laying cost proportion, and the benefit proportion of pipeline companies as the cost allocation indexes. The resource dependence theory is introduced to quantify the bargaining power of each pipeline company in the negotiation of the cost allocation. The weights of the cost allocation indexes in the comprehensive decision-making model are optimized with the objective of maximizing the overall satisfaction of the pipeline companies. Simulations based on the data of utility tunnel pilots in China illustrate that the proposed cost allocation mechanism has the highest overall satisfaction and is more acceptable and more feasible than the traditional cost allocation methods. For power companies, the cost of laying power cables can be significantly reduced by utility tunnels, and laying 10 kV power cables has been shown to have higher economic benefits. Full article
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Open AccessArticle
Influence of Different Biofuels on the Efficiency of Gas Turbine Cycles for Prosumer and Distributed Energy Power Plants
Energies 2019, 12(16), 3173; https://doi.org/10.3390/en12163173 - 19 Aug 2019
Cited by 5
Abstract
The efficiency of a gas turbine can be affected by the use of different biofuels usually with a relatively Lower Heating Value (LHV). The paper evaluates the impact of calorific value of fuel on turbine performance and analyzes the possibilities of optimizing turbine [...] Read more.
The efficiency of a gas turbine can be affected by the use of different biofuels usually with a relatively Lower Heating Value (LHV). The paper evaluates the impact of calorific value of fuel on turbine performance and analyzes the possibilities of optimizing turbine construction from the point of view of maximum efficiency for a particular fuel. The several variants of design of small power microturbines dedicated to various biofuels are analyzed. The calculations were carried out for: gas from biomass gasification (LHV = 4.4 MJ/kg), biogas (LHV = 17.5 MJ/kg) and methane (LHV = 50 MJ/kg). It is demonstrated that analyzed solution enables construction of several kW power microturbines that might be used on a local scale. Careful design of such devices allows for achieving high efficiency with appropriate choice of the turbine construction for specific fuel locally available. Such individually created generation systems might be applied in distributed generation systems assuring environmental profits. Full article
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Open AccessArticle
Do Carbon Emissions and Economic Growth Decouple in China? An Empirical Analysis Based on Provincial Panel Data
Energies 2019, 12(12), 2411; https://doi.org/10.3390/en12122411 - 23 Jun 2019
Cited by 9
Abstract
Global warming has emerged as a serious threat to humans and sustainable development. China is under increasing pressure to curb its carbon emissions as the world’s largest emitter of carbon dioxide. By combining the Tapio decoupling model and the environmental Kuznets curve (EKC) [...] Read more.
Global warming has emerged as a serious threat to humans and sustainable development. China is under increasing pressure to curb its carbon emissions as the world’s largest emitter of carbon dioxide. By combining the Tapio decoupling model and the environmental Kuznets curve (EKC) framework, this paper explores the relationship between China’s carbon emissions and economic growth. Based on panel data of 29 provinces from 2007 to 2016, this paper quantitatively estimates the nexus of carbon emissions and economic development for the whole nation and the decoupling status of individual provinces. There is empirical evidence for the conventional EKC hypothesis, showing that the relationship between carbon emissions and per capita gross domestic product (GDP) is an inverted U shape and that the inflection point will not be attained soon. Moreover, following the estimation results of the Tapio decoupling model, there were significant differences between individual provinces in decoupling status. As a result, differentiated and targeted environmental regulations and policies regarding energy consumption and carbon emissions should be reasonably formulated for different provinces and regions based on the corresponding level of economic development and decoupling status. Full article
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Open AccessArticle
Does Energy-Growth and Environment Quality Matter for Agriculture Sector in Pakistan or not? An Application of Cointegration Approach
Energies 2019, 12(10), 1879; https://doi.org/10.3390/en12101879 - 16 May 2019
Cited by 12
Abstract
The main objective of this paper is to examine the long-term effects of financial development, economic growth, energy consumption (electricity consumption in the agriculture sector), foreign direct investment (FDI), and population on the environmental quality in Pakistan during the period of 1980 to [...] Read more.
The main objective of this paper is to examine the long-term effects of financial development, economic growth, energy consumption (electricity consumption in the agriculture sector), foreign direct investment (FDI), and population on the environmental quality in Pakistan during the period of 1980 to 2016. We use CO2 emissions from the agriculture sector as a proxy indicator for environmental quality. We employ various unit root tests (e.g., ADF, PP, ERS, KPSS) and structural break unit root tests (Z&A, CMR) to check the stationarity and structural break in the data series. Cointegration tests, i.e., Johansen, Engle-Granger, and ARDL cointegration approaches are used to ensure their robustness. Results showed that significant long-term cointegration exists among the variables. Findings also indicated that an increase in financial development and foreign direct investment (FDI) improves environmental quality, whereas the increase in economic growth and electricity consumption in the agriculture sector degrades environmental quality in Pakistan. Based on the findings, we suggest policymakers should provide a conducive environment for foreign investment. Moreover, it is also suggested that a reliance on fossil fuels be reduced and a transition to renewable energy sources be encouraged to decrease the environmental pollution in the country. Full article
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Open AccessArticle
Analyzing Carbon Emissions Embodied in Construction Services: A Dynamic Hybrid Input–Output Model with Structural Decomposition Analysis
Energies 2019, 12(8), 1456; https://doi.org/10.3390/en12081456 - 17 Apr 2019
Cited by 1
Abstract
The energy embodied in construction services consumed by industrial sectors used to increase capacities has led to massive energy-related carbon emissions (ERCE). From the perspective of consumer responsibility, ERCE embodied in construction services is driven by technological changes and the increases in final [...] Read more.
The energy embodied in construction services consumed by industrial sectors used to increase capacities has led to massive energy-related carbon emissions (ERCE). From the perspective of consumer responsibility, ERCE embodied in construction services is driven by technological changes and the increases in final demand of various sectors, including final consumption, fixed assets investment, and net export. However, little attention has been paid to decomposing sectoral responsibilities from this perspective. To fill this research gap, we propose a dynamic hybrid input–output model combined with structural decomposition analysis (DHI/O-SDA model). We introduce DHI/O modeling into the estimation of ERCE embodied in construction services from the perspective of consumer responsibility and introduce SDA into DHI/O models to improve the resolution of the estimate. Taking China as a case study, we verified the DHI/O-SDA model and present the bilateral relationships among sectoral responsibilities for ERCE embodied in construction services. A major finding is that the “Other Tertiary Industry” sector is most responsible for ERCE embodied in construction services and strongly influences other sectors. Therefore, controlling the final demand increase of the service industry will be the most effective policy to reduce the ERCE embodied in construction services. Full article
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Open AccessArticle
Energy, Economy, and Environment: A Worldwide Research Update
Energies 2019, 12(6), 1120; https://doi.org/10.3390/en12061120 - 22 Mar 2019
Cited by 12
Abstract
This paper has reviewed the international research on the interactions between the Economy, Energy, and Environment (3E) in the 21st century. For this purpose, a bibliometric and cluster analysis by fractional accounting has been carried out based on the two most important databases: [...] Read more.
This paper has reviewed the international research on the interactions between the Economy, Energy, and Environment (3E) in the 21st century. For this purpose, a bibliometric and cluster analysis by fractional accounting has been carried out based on the two most important databases: Web of Science (WoS) and Scopus. The research found and studied 2230 documents from the WoS Core Collection and 3,149 from Scopus. The results show a continuous increase in the number of articles that were published and citations during the whole period. They also showed that China and the United States (U.S.) were the most productive countries and there was a predominance of Asian organizations supporting and fostering researches. The main contribution of this article is the analysis of keywords from 2001 to 2018. The trends show that the main common elements are sustainable development and sustainability and they also include CO2 emissions and consumption. Future research in this field should address the energy transition issue in the area of sustainable development by adapting it to the restrictions of this economic model. Full article
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Open AccessEditor’s ChoiceArticle
Inter-Criteria Dependencies-Based Decision Support in the Sustainable wind Energy Management
Energies 2019, 12(4), 749; https://doi.org/10.3390/en12040749 - 24 Feb 2019
Cited by 21
Abstract
Decision problems related to the wind energy require considering many, often interrelated and dependent on each other, criteria. To solve such problems, decision systems based on Multi-Criteria Decision Analysis (MCDA) methods are usually used. Unfortunately, most methods assume independence between the criteria, therefore, [...] Read more.
Decision problems related to the wind energy require considering many, often interrelated and dependent on each other, criteria. To solve such problems, decision systems based on Multi-Criteria Decision Analysis (MCDA) methods are usually used. Unfortunately, most methods assume independence between the criteria, therefore, their application in decision problems related to the wind energy is debatable. This paper presents the use of the Analytic Network Process (ANP) method to solve a decision problem consisting in selecting the location and design of a wind farm. The use of the ANP method allows capturing the complexity of the decision problem by taking into consideration dependencies between criteria. As part of the verification of the solution, the results of the ANP method were compared with those of the Analytic Hierarchy Process (AHP) method, which uses only hierarchical dependencies between criteria. The conducted verification showed that the inter-criteria dependencies may have a significant influence on the obtained solution. On the basis of the conducted sensitivity analysis and the research into robustness of the rankings to the rank reversal phenomenon, it has been found out that the ranking obtained with the use of the ANP is characterized by a higher quality than by means of the AHP. Full article
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