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

Deadline for manuscript submissions: closed (10 March 2023) | Viewed by 29884

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Dr. George Halkos

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Laboratory of Operations Research, Department of Economics, University of Thessaly, 28hs Octovriou 78, 383 33 Volos, 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 policymakers. Knowledge of the actual causal relationship between energy and the economy with respect to the environment will help us to model environmental and growth policies. The development of new energy and environmental policies, the new climate regime, and the development of new scientific techniques provide us with opportunities for further research. Projects on energy efficiency have been prioritized in the portfolio of policies of many countries, as these policies are considered to be 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 aims to provide an analysis of energy–environment–economy interrelations, paying special attention to the potential impact of energy and economic growth on the environment.

Prof. Dr. George Halkos
Guest Editor

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Keywords

economic growth and the environment
environmental problems related to energy issues
natural resources and energy management
environmental policy tools
renewable energy sources
green economy, sustainability, and innovation
corporate social responsibility
sustainable transport
sustainable tourism
estimation and management of risk
environmental impact assessment
energy and health problems
environmental funding and investments in energy
energy communities.

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Published Papers (10 papers)

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Research

13 pages, 2838 KiB

Open AccessArticle

The Dynamics of US Gasoline Demand and Its Prediction: An Extended Dynamic Model Averaging Approach

by Sakar Hasan Hamza and Qingna Li

Energies 2023, 16(12), 4795; https://doi.org/10.3390/en16124795 - 19 Jun 2023

Viewed by 1425

Abstract

This study contributes to the body of literature on modeling and predicting gasoline demand by using nonlinear econometric techniques. For this purpose, dynamic model averaging (DMA) and Bayesian model averaging (BMA) combined with Artificial Bee Colony (ABC) are used to forecast gasoline consumption in the United States. The article’s independent variables include demographic characteristics, economic activity, income, driving expenditures, automobile price, and road availability for annual data from 1960 to 2020. In the proposed model, not only may the coefficients and elasticity of a predictor of gasoline demand change over time, but other sets of predictors can also emerge at different periods. Moreover, this study aims to automate the process of picking two forgotten variables of the DMA model using the ABC model. Our findings indicate that dynamic model averaging significantly improves forecasting performance when compared to basic benchmark techniques and advanced approaches. Additionally, integrating it with an Artificial Bee Colony (ABC) may result in improved outcomes when time-varying forgetting variables are present. The findings of this research provide policymakers in the fields of energy economics and the environment with helpful tools and information. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

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19 pages, 18773 KiB

Open AccessArticle

Comprehensive Benefit Analysis of Port Shore Power Based on Carbon Trading

by Yang He and Yun Zhu

Energies 2023, 16(6), 2755; https://doi.org/10.3390/en16062755 - 15 Mar 2023

Cited by 1 | Viewed by 1789

Abstract

The concept of “oil to electricity” is crucial for expanding the share of electricity in final energy consumption as well as for encouraging energy efficiency and emission reduction. Initially, a multidimensional strategy analysis is conducted for the government, ports, and ships concerned. From an economics perspective, a mathematical model of electricity substitution benefit analysis based on multiagent cooperative game theory under cap and trade and carbon tax policies is constructed, and the effect of carbon emissions caused by ships on the environment and society is converted into economic value. How several variables, such as transformation costs, ship electricity consumption, subsidy rates, carbon tax prices, and the ratio of shore power usage time to berthing time, affect the functioning of shore power is analyzed. The best electricity price under various circumstances is determined while considering the benefits of the three parties to maximize social welfare. The reduction in carbon dioxide and pollutant emissions is calculated. Meanwhile, the environmental advantages of the “replacement of oil with electricity” procedure are estimated. An example supports the claim that the suggested modeling approach can successfully resolve the economic benefits of each participant for the period that fosters the growth of electricity replacement projects and offers a sound scientific foundation for the formation of pertinent legislation. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

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19 pages, 335 KiB

Open AccessArticle

Determinants of Renewable Energy Consumption in Africa: Evidence from System GMM

by Adedoyin Isola Lawal

Energies 2023, 16(5), 2136; https://doi.org/10.3390/en16052136 - 22 Feb 2023

Cited by 11 | Viewed by 4354

Abstract

The adoption of renewable energy remains Sub-Saharan Africa’s best option to achieve sustainable growth and mitigate climate change. The essence of this study is to examine the factors that determine the adoption of renewable energy adoption in Africa by employing the System Generalized Methods-Of-Moment (GMM) to analyze data sourced from 1990 to 2019 on some selected African economies. The study examined the tripartite role of the economic, environmental, and socio-political factors on renewable energy adoption in Africa and noted that a positive relationship exists between economic and renewable energy adoption, supporting the validity of the feedback hypothesis. Hence, a policy that supports simultaneous growth of the economy and renewable energy could be adopted. The results further show that environmental factors such as carbon emission and ecological footprint negatively impact renewable energy (RE) adoption in Sub-Saharan African economies. The impact of socio-political factors is, at best mixed; for instance, the result of urbanization is positive and significant, suggesting that urbanization helps in the quick adoption of renewable energy in the studied economies, while the results of corruption show otherwise. To account for single-country dynamics, the study employed the full PMG and noted that the pollution haven hypothesis holds for a number of African economies. The results offer some policy implications. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

27 pages, 381 KiB

Open AccessArticle

The Nexus between Economic Growth, Energy Consumption, Agricultural Output, and CO₂ in Africa: Evidence from Frequency Domain Estimates

by Adedoyin Isola Lawal

Energies 2023, 16(3), 1239; https://doi.org/10.3390/en16031239 - 23 Jan 2023

Cited by 3 | Viewed by 2783

Abstract

This study examined the nexus between economic growth, energy consumption, and the environment with the moderating role of agricultural value addition and forest in Africa based on data sourced from 1980 to 2019. We employed both the time domain and frequency domain panel Granger causality estimation techniques to compare results across the different horizons. Extant literature suggests the inability of time domain estimation techniques to account for causality at different frequencies. The study also accounts for the nexus among our variables both at the single-country and multi-country levels. The results at the single-country level are at best mixed. The results of the panel Granger causality at the frequencies domain suggest that a bi-directional relationship exists between energy consumption and economic growth, and that energy consumption Granger causes carbon emissions in Africa. The results align with the feedback hypothesis on the one hand but contradict the conservation hypothesis on the other hand. The study has some policy implications. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

16 pages, 1777 KiB

Open AccessArticle

Assessing Fossil Fuels and Renewables’ Impact on Energy Poverty Conditions in Europe

by George Halkos and Eleni-Christina Gkampoura

Energies 2023, 16(1), 560; https://doi.org/10.3390/en16010560 - 3 Jan 2023

Cited by 28 | Viewed by 3431

Abstract

The disadvantages of fossil fuels and their impact on the environment have made the transition to renewable energy sources essential to cover our energy needs. However, different energy resources have a different impact on energy poverty conditions in the world, an issue that is important to examine and properly address. This study examines the impact that fossil fuels final energy consumption in households per capita and renewables and biofuels final energy consumption in households per capita have on energy poverty conditions in Europe, using panel data from 28 European countries for the time period 2004–2019 and static and dynamic regression models, while also performing various econometric tests. The findings indicate that GDP per capita and fossil fuels are linked to an inverse relationship to energy poverty conditions. Renewables and biofuels are also linked to an inverse relationship to the inability to keep homes adequately warm and the presence of leaks, damp, or rot in the dwelling, but they could be considered a driver of arrears on utility bills. In addition, a comparative analysis between Sweden, Germany, and Greece and their conditions on energy poverty and energy transition was conducted, highlighting the differences existing between the three European countries. The findings of the research can be useful for governments and policy makers to develop strategies that promote energy transition while protecting energy consumers. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

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24 pages, 3437 KiB

Open AccessArticle

Combustion, Ecological, and Energetic Indicators for Mixtures of Hydrotreated Vegetable Oil (HVO) with Duck Fat Applied as Fuel in a Compression Ignition Engine

by Oleksandra Shepel, Jonas Matijošius, Alfredas Rimkus, Olga Orynycz, Karol Tucki and Antoni Świć

Energies 2022, 15(21), 7892; https://doi.org/10.3390/en15217892 - 24 Oct 2022

Cited by 6 | Viewed by 1852

Abstract

The aim of the present study was to investigate the effects of the application of hydrotreated vegetable oil (HVO) mixed with pure duck fat (F100) as fuel, replacing the conventional fossil diesel fuel (D100). The tests were performed using a four-stroke direct injection CI engine diesel engine. Six fuel samples were used: D100, HVO100, F100, as well as three HVO–fat mixtures F25, F50, and F75. To further study the main characteristics of fuel combustion, the AVL BOOST software (Burn program) was applied. The results of experimental studies showed that with the addition of pure fat to HVO, the ignition delay phase increased with an increase in the amount of heat released during the premix combustion phase and the pressure and temperature rise in the cylinder increased; however, the mentioned parameters were not higher as compared to diesel fuel. It was found that as the concentration of fat in the HVO–fat mixtures increases, the viscosity and density increases, while LHV was decreased, which thereby increases brake specific fuel consumption and slightly decreases brake thermal efficiency in comparison to diesel fuel. A decrease of CO₂, HC, NO_x emissions, and smoke was established for all HVO–fat mixtures as compared to diesel fuel at all loads; however; under low loads, CO emissions increased. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

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23 pages, 7706 KiB

Open AccessArticle

Forecasting the CO₂ Emissions at the Global Level: A Multilayer Artificial Neural Network Modelling

by Pradyot Ranjan Jena, Shunsuke Managi and Babita Majhi

Energies 2021, 14(19), 6336; https://doi.org/10.3390/en14196336 - 4 Oct 2021

Cited by 29 | Viewed by 3390

Abstract

Better accuracy in short-term forecasting is required for intermediate planning for the national target to reduce CO₂ emissions. High stake climate change conventions need accurate predictions of the future emission growth path of the participating countries to make informed decisions. The current study forecasts the CO₂ emissions of the 17 key emitting countries. Unlike previous studies where linear statistical modeling is used to forecast the emissions, we develop a multilayer artificial neural network model to forecast the emissions. This model is a dynamic nonlinear model that helps to obtain optimal weights for the predictors with a high level of prediction accuracy. The model uses the gross domestic product (GDP), urban population ratio, and trade openness, as predictors for CO₂ emissions. We observe an average of 96% prediction accuracy among the 17 countries which is much higher than the accuracy of the previous models. Using the optimal weights and available input data the forecasting of CO₂ emissions is undertaken. The results show that high emitting countries, such as China, India, Iran, Indonesia, and Saudi Arabia are expected to increase their emissions in the near future. Currently, low emitting countries, such as Brazil, South Africa, Turkey, and South Korea will also tread on a high emission growth path. On the other hand, the USA, Japan, UK, France, Italy, Australia, and Canada will continuously reduce their emissions. These findings will help the countries to engage in climate mitigation and adaptation negotiations. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

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16 pages, 804 KiB

Open AccessArticle

Medium- and High-Tech Export and Renewable Energy Consumption: Non-Linear Evidence from the ASEAN Countries

by Cong Khai Dinh, Quang Thanh Ngo and Trung Thanh Nguyen

Energies 2021, 14(15), 4419; https://doi.org/10.3390/en14154419 - 22 Jul 2021

Cited by 7 | Viewed by 2954

Abstract

Sustaining economic growth while reducing dependence on fossil fuels remains a challenge for our world to fight against climate change and therefore finding a way to promote economic growth and increase renewable energy use is needed. This paper uses a 22-year panel dataset (1994–2015) of 9 countries in the Association of Southeast Asian Nations provided by the World Bank World Development Indicators to examine the impact of medium- and high-tech export on renewable energy use. We employ a fixed-effects regression model with the Driscoll–Kraay nonparametric covariance matrix estimator to account for sectoral and temporal dependence. We also control for inflation, employment, population growth, and gross domestic product per capita in our estimations. Our results demonstrate a U-shaped association between medium- and high-tech export and renewable energy consumption of these economies. The results propose that enhancing medium- and high-tech export could be a feasible solution for promoting renewable energy consumption. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

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23 pages, 2885 KiB

Open AccessArticle

Assessing the Economic and Environmental Impacts of Alternative Renewable Portfolio Standards: Winners and Losers

by Jamal Mamkhezri, Leonard A. Malczynski and Janie M. Chermak

Energies 2021, 14(11), 3319; https://doi.org/10.3390/en14113319 - 5 Jun 2021

Cited by 23 | Viewed by 3767

Abstract

State-mandated renewable portfolio standards affect substantial portions of the total U.S. electricity supply. Renewable portfolio standards are environmentally motivated policies, yet they have the potential to greatly impact economy. There is not an agreement in the literature on the impact of renewable portfolio standards policies on regional economies, especially on job creation. By integrating various methodologies including econometrics, geographic information system, and input–output analysis into a unique system dynamics model, this paper estimates the economic and environmental impacts of various renewable portfolio standards scenarios in the state of New Mexico, located in Southwestern U.S. The state is endowed with traditional fossil fuel resources and substantial renewable energy potential. In this work we estimated and compared the economic and environmental tradeoffs at the county level under three renewable portfolio standards: New Mexico’s original standard of 20% renewables, the recently adopted 100% renewables standard, and a reduced renewable standard of 10%. The final one would be a return to a more traditional generation profile. We found that while the 20% standard has the highest market-based economic impact on the state as a whole, it is not significantly different from other scenarios. However, when environmental impacts are included, the 100% standard yields the highest value. In addition, while the state level economic impacts across the three scenarios are not significantly different, the county-level impacts are substantial. This is especially important for a state like New Mexico, which has a high reliance on energy for economic development. A higher renewable portfolio standard appears to be an economic tool to stimulate targeted areas’ economic growth. These results have policy implications. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

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24 pages, 2732 KiB

Open AccessArticle

Examining the Linkages among Carbon Dioxide Emissions, Electricity Production and Economic Growth in Different Income Levels

by George E. Halkos and Eleni-Christina Gkampoura

Energies 2021, 14(6), 1682; https://doi.org/10.3390/en14061682 - 18 Mar 2021

Cited by 24 | Viewed by 2608

Abstract

Our industrialized world highly depends on fossil fuels to cover its energy needs. Although fossil fuels have been linked with economic growth, their use has also been found to have severe impacts on the environment. The linkages among carbon dioxide emissions, energy consumption and economic growth have been extensively examined in the current literature. The present study focuses on electricity production from fossil fuels, as well as from renewable sources and examines their linkages with CO₂ emissions and economic growth in 119 world countries of different income levels, by assessing Granger causality. In addition, the Environmental Kuznets Curve (EKC) hypothesis is tested, in order to evaluate whether economic growth and carbon dioxide emissions are linked with an inverse U-shaped relationship and with an N-shape relationship in higher income levels. The EKC hypothesis is confirmed for high income and upper-middle income countries, but not for lower-middle and low income levels and a bidirectional Granger causality is found between GDP per capita and CO₂ per capita in all income levels. Full article

(This article belongs to the Special Issue Modeling Energy–Environment–Economy Interrelations)

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