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Economic Aspects of Investing in Renewable Energy in the Function of the European Integrations

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  • Jelena Djuran

    (Educons University)

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    Abstract

    n the contemporary economy, we consider the development of technologies that support energy production from renewable sources as an imperative. If the international, global and local communities continue to move towards a sustainable approach of the, more and more necessary, energy production, we also, must bear in mind the obstacles on the fast track development of these technologies. We cannot expect a stable and long-term success by trying to make sustainable development of renewable energy sources in the outdated institutional, economic and market context and establishment. Capital investments, in addition to widespread awareness of sustainable energy development, are a prerequisite for supporing green technologies. Development and changes in the structure of the energy system are the result of investment inplants and equipment, as well as, investment in infrastructure energy system. Especially in less developed WB countries, difficulties in attracting capital for investment in sustainable energy can interfere with economic development. Although investment in renewable energy makes up only a small part of global capital markets, investment needed to fund the growing needs of the energy sector, still cannot be provided, particularly in developing WB countries. The challenges of rising funds for investment in sustainable energy system, and include all the risks that investors see uncertainty and rate of return. Return on investment in systems based on sustainable energy can not always be comparable with other infrastructure investments. This paper suggests some of the institutional and economic barriers to the development and application of renewable energy sources, to enable them to reduce and overcome, and an attempt to emphasize the importance of renewable energy sources in the wider context of sustainable development and structural changes in the function of the European integrations

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    This chapter was published in:

  • Stefan Bogdan Salej & Dejan Eric & Srdjan Redzepagic & Ivan Stosic (ed.), 2011. "Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union," Books, Institute of Economic Sciences, number conissue, December.
    This item is provided by Institute of Economic Sciences in its series Book Chapters with number conissue-6.

    Handle: RePEc:ibg:chaptr:conissue-6

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    Keywords: Investment; renewable energy; sustainable regional development; employment; low-carbon economy; feed-in tariffs; European integrations;

    References

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    1. Berry, David, 2002. "The market for tradable renewable energy credits," Ecological Economics, Elsevier, vol. 42(3), pages 369-379, September.
    2. Bergmann, Ariel & Hanley, Nick & Wright, Robert, 2006. "Valuing the attributes of renewable energy investments," Energy Policy, Elsevier, vol. 34(9), pages 1004-1014, June.
    3. Verbruggen, Aviel & Fischedick, Manfred & Moomaw, William & Weir, Tony & Nadaï, Alain & Nilsson, Lars J. & Nyboer, John & Sathaye, Jayant, 2010. "Renewable energy costs, potentials, barriers: Conceptual issues," Energy Policy, Elsevier, vol. 38(2), pages 850-861, February.
    4. Sanne, Christer, 2000. "Dealing with environmental savings in a dynamical economy-how to stop chasing your tail in the pursuit of sustainability," Energy Policy, Elsevier, vol. 28(6-7), pages 487-495, June.
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