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date: 05 March 2021

Abstract and Keywords

This chapter investigates the prospects of renewable energy from an economic point of view and presents a few economic models that address specific issues. Although the transition to renewable energy is inevitable given the threats the world faces otherwise, the path is not so simple and definitely cannot be driven by only market forces. The upshot is that the prospects of substantial and cheap availability of renewable energy are very unlikely on economic grounds unless a number of issues, in particular regarding substantial technical breakthroughs and binding agreements on global warming mitigation, are simultaneously satisfied. Otherwise crucial players will counteract or undermine the apparent profitability. However, there is no alternative to renewable energy. Ultimately, renewable energy must prove its use in the market, and energy poverty in the Third World provides a huge and profitable playground for this.

Keywords: barriers, commitment, constraints, forecast, modeling, R&D, renewable energy, transition

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