IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v6y2013i10p5023-5045d29155.html

A Political, Economic, Social, Technology, Legal and Environmental (PESTLE) Approach for Risk Identification of the Tidal Industry in the United Kingdom

Author

Listed:
  • Athanasios Kolios

    (Department of Offshore, Process and Energy Engineering, School of Engineering, Cranfield University, Cranfield, Bedfordshire MK43 0AL, UK)

  • George Read

    (Department of Offshore, Process and Energy Engineering, School of Engineering, Cranfield University, Cranfield, Bedfordshire MK43 0AL, UK)

Abstract

This paper presents a comprehensive analysis of renewable and especially tidal energy through a political, economic, social, technology, legal and environmental (PESTLE) analysis approach and by reviewing the most up to date relevant literature. The study focuses on the United Kingdom given the favourable environmental resources for such technologies; the number of different design concepts that are currently under development as well as the research funding that has been invested over the last few years. Findings of the analysis identify the risks and multiple stakeholders involved at all stages of the tidal energy projects development from the conceptualization of the design, right through to decommissioning. Many of the stakeholders present benefits to the tidal developers through funding, incentives and knowledge sharing, but at the same time they also present potential risks to the future of projects. This is mostly down to different approaches of the most important aspect of tidal energy that needs to be considered, making it hard for technologists and developers to equally address all requirements. From this research it can be concluded that several of these risks can be mitigated early on providing that particular stakeholders are involved at the correct stage of a project.

Suggested Citation

  • Athanasios Kolios & George Read, 2013. "A Political, Economic, Social, Technology, Legal and Environmental (PESTLE) Approach for Risk Identification of the Tidal Industry in the United Kingdom," Energies, MDPI, vol. 6(10), pages 1-23, September.
    • Handle: RePEc:gam:jeners:v:6:y:2013:i:10:p:5023-5045:d:29155
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/6/10/5023/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/6/10/5023/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Devine-Wright, Patrick, 2011. "Enhancing local distinctiveness fosters public acceptance of tidal energy: A UK case study," Energy Policy, Elsevier, vol. 39(1), pages 83-93, January.
    2. West, J. & Bailey, I. & Winter, M., 2010. "Renewable energy policy and public perceptions of renewable energy: A cultural theory approach," Energy Policy, Elsevier, vol. 38(10), pages 5739-5748, October.
    3. Henriques, Irene & Sadorsky, Perry, 2008. "Oil prices and the stock prices of alternative energy companies," Energy Economics, Elsevier, vol. 30(3), pages 998-1010, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Munday, Max & Ahmadian, Reza & Turner, Karen & Formosa, Nathan & Roche, Neil, 2026. "Might tidal range schemes change the local economic impact dial on renewable electricity generation?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 226(PA).
    2. Parra-López, Carlos & Holley, Martin & Lindegaard, Kevin & Sayadi, Samir & Esteban-López, Gonzalo & Durán-Zuazo, Víctor H. & Knauer, Christoph & Engelbrechten, Hans-Georg von & Winterber, Ralf & Henri, 2017. "Strengthening the development of the short-rotation plantations bioenergy sector: Policy insights from six European countries," Renewable Energy, Elsevier, vol. 114(PB), pages 781-793.
    3. Igliński, Bartłomiej & Iglińska, Anna & Cichosz, Marcin & Kujawski, Wojciech & Buczkowski, Roman, 2016. "Renewable energy production in the Łódzkie Voivodeship. The PEST analysis of the RES in the voivodeship and in Poland," Renewable and Sustainable Energy Reviews, Elsevier, vol. 58(C), pages 737-750.
    4. Marzi, Sepehr & Farnia, Luca & Dasgupta, Shouro & Mysiak, Jaroslav & Lorenzoni, Arturo, 2019. "Competence analysis for promoting energy efficiency projects in developing countries: The case of OPEC," Energy, Elsevier, vol. 189(C).
    5. Satya Widya Yudha & Benny Tjahjono & Athanasios Kolios, 2018. "A PESTLE Policy Mapping and Stakeholder Analysis of Indonesia’s Fossil Fuel Energy Industry," Energies, MDPI, vol. 11(5), pages 1-22, May.
    6. Parra-López, Carlos & Reina-Usuga, Liliana & Carmona-Torres, Carmen & Sayadi, Samir & Klerkx, Laurens, 2021. "Digital transformation of the agrifood system: Quantifying the conditioning factors to inform policy planning in the olive sector," Land Use Policy, Elsevier, vol. 108(C).
    7. Mastac Lavinia, 2025. "Digitalization And Informality In The Eu: A Pestle-Based Cluster Analysis," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 155-167, June.
    8. Athanasios Kolios & Varvara Mytilinou & Estivaliz Lozano-Minguez & Konstantinos Salonitis, 2016. "A Comparative Study of Multiple-Criteria Decision-Making Methods under Stochastic Inputs," Energies, MDPI, vol. 9(7), pages 1-21, July.
    9. Satya Widya Yudha & Benny Tjahjono, 2019. "Stakeholder Mapping and Analysis of the Renewable Energy Industry in Indonesia," Energies, MDPI, vol. 12(4), pages 1-19, February.
    10. Jessica Borges Posterari & Takuji Waseda, 2022. "Wave Energy in the Pacific Island Countries: A New Integrative Conceptual Framework for Potential Challenges in Harnessing Wave Energy," Energies, MDPI, vol. 15(7), pages 1-24, April.
    11. Nur Arifatul Ulya & Edwin Martin & Mamat Rahmat & Bambang Tejo Premono & Leo Rio Ependi Malau & Efendi Agus Waluyo & Andika Imanullah & Abdul Hakim Lukman & Asmaliyah & Armansyah & Dani Saputra & Etik, 2022. "Enabling Factors of NTFP Business Development for Ecosystem Restoration: The Case of Tamanu Oil in Indonesian Degraded Peatland," Sustainability, MDPI, vol. 14(17), pages 1-26, August.
    12. Ioannou, Anastasia & Angus, Andrew & Brennan, Feargal, 2017. "Risk-based methods for sustainable energy system planning: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 74(C), pages 602-615.
    13. Ruano-Chamorro, Cristina & Castilla, Juan Carlos & Gelcich, Stefan, 2018. "Human dimensions of marine hydrokinetic energies: Current knowledge and research gaps," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 1979-1989.
    14. Norhan Bayomi & John E. Fernandez, 2019. "Towards Sustainable Energy Trends in the Middle East: A Study of Four Major Emitters," Energies, MDPI, vol. 12(9), pages 1-20, April.
    15. Charlotte Stead & Zia Wadud & Chris Nash & Hu Li, 2019. "Introduction of Biodiesel to Rail Transport: Lessons from the Road Sector," Sustainability, MDPI, vol. 11(3), pages 1-20, February.
    16. Segura, E. & Morales, R. & Somolinos, J.A. & López, A., 2017. "Techno-economic challenges of tidal energy conversion systems: Current status and trends," Renewable and Sustainable Energy Reviews, Elsevier, vol. 77(C), pages 536-550.
    17. Agyekum, Ephraim Bonah & Amjad, Fahd & Mohsin, Muhammad & Ansah, Michael Nii Sanka, 2021. "A bird's eye view of Ghana's renewable energy sector environment: A Multi-Criteria Decision-Making approach," Utilities Policy, Elsevier, vol. 70(C).
    18. Philip Jones & Joop Lensink & Maria Cecilia Mancini & Richard Tranter, 2017. "Designing an Institutional Network for Improving Farm Animal Welfare in the EU," Journal of Common Market Studies, Wiley Blackwell, vol. 55(5), pages 1081-1093, September.
    19. Li, Fangyi & Cao, Xin & Ou, Rui, 2021. "A network-based evolutionary analysis of the diffusion of cleaner energy substitution in enterprises: The roles of PEST factors," Energy Policy, Elsevier, vol. 156(C).
    20. Ivana Marinovic Matovic, 2020. "PESTEL Analysis of External Environment as a Success Factor of Startup Business," ConScienS Conference Proceedings 015im, Research Association for Interdisciplinary Studies.
    21. Yunna Wu & Chuanbo Xu & Hu Xu, 2016. "Optimal Site Selection of Tidal Power Plants Using a Novel Method: A Case in China," Energies, MDPI, vol. 9(10), pages 1-26, October.
    22. Segura, E. & Morales, R. & Somolinos, J.A., 2018. "A strategic analysis of tidal current energy conversion systems in the European Union," Applied Energy, Elsevier, vol. 212(C), pages 527-551.
    23. Bishal Dey & Bidesh Roy & Subir Datta, 2024. "Identification and prioritisation of barriers and drivers for achieving ethanol blending target in India using Delphi-PESTEL-Fuzzy-AHP method," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(1), pages 479-516, January.
    24. Zhou, Shan & Yang, Pu, 2020. "Risk management in distributed wind energy implementing Analytic Hierarchy Process," Renewable Energy, Elsevier, vol. 150(C), pages 616-623.
    25. Maria Martinez Luengo & Athanasios Kolios, 2015. "Failure Mode Identification and End of Life Scenarios of Offshore Wind Turbines: A Review," Energies, MDPI, vol. 8(8), pages 1-16, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bonar, Paul A.J. & Bryden, Ian G. & Borthwick, Alistair G.L., 2015. "Social and ecological impacts of marine energy development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 47(C), pages 486-495.
    2. Troldborg, Mads & Heslop, Simon & Hough, Rupert L., 2014. "Assessing the sustainability of renewable energy technologies using multi-criteria analysis: Suitability of approach for national-scale assessments and associated uncertainties," Renewable and Sustainable Energy Reviews, Elsevier, vol. 39(C), pages 1173-1184.
    3. Jenkins, Lekelia Danielle & Dreyer, Stacia Jeanne & Polis, Hilary Jacqueline & Beaver, Ezra & Kowalski, Adam A. & Linder, Hannah L. & McMillin, Thomas Neal & McTiernan, Kaylie Laura & Rogier, Thea The, 2018. "Human dimensions of tidal energy: A review of theories and frameworks," Renewable and Sustainable Energy Reviews, Elsevier, vol. 97(C), pages 323-337.
    4. Qiao, Sen & Guo, Zi Xin & Tao, Zhang & Ren, Zheng Yu, 2023. "Analyzing the network structure of risk transmission among renewable, non-renewable energy and carbon markets," Renewable Energy, Elsevier, vol. 209(C), pages 206-217.
    5. Dutta, Anupam & Bouri, Elie & Rothovius, Timo & Uddin, Gazi Salah, 2023. "Climate risk and green investments: New evidence," Energy, Elsevier, vol. 265(C).
    6. Liu, Yongtuan & Wang, Kewei, 2024. "Asymmetric impacts of coal prices, fintech, and financial stress on clean energy stocks," Resources Policy, Elsevier, vol. 92(C).
    7. Ioannidis, Romanos & Koutsoyiannis, Demetris, 2020. "A review of land use, visibility and public perception of renewable energy in the context of landscape impact," Applied Energy, Elsevier, vol. 276(C).
    8. Mensi, Walid & Rehman, Mobeen Ur & Vo, Xuan Vinh, 2022. "Spillovers and diversification benefits between oil futures and ASEAN stock markets," Resources Policy, Elsevier, vol. 79(C).
    9. Nsisong Patrick Ekong & Daniel Wilson Ebong, 2016. "On the Crude Oil Price, Stock Market Movement and Economic Growth Nexus in Nigeria Evidence from Cointegration and Var Analysis," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 4(3), pages 112-123, September.
    10. Shen, Yiran & Liu, Chang & Sun, Xiaolei & Guo, Kun, 2023. "Investor sentiment and the Chinese new energy stock market: A risk–return perspective," International Review of Economics & Finance, Elsevier, vol. 84(C), pages 395-408.
    11. Zhang, Hao & Cai, Guixin & Yang, Dongxiao, 2020. "The impact of oil price shocks on clean energy stocks: Fresh evidence from multi-scale perspective," Energy, Elsevier, vol. 196(C).
    12. Yufeng Chen & Wenqi Li & Xi Jin, 2018. "Volatility Spillovers between Crude Oil Prices and New Energy Stock Price in China," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 43-62, December.
    13. Qu, Fang & Chen, Yufeng & Zheng, Biao, 2021. "Is new energy driven by crude oil, high-tech sector or low-carbon notion? New evidence from high-frequency data," Energy, Elsevier, vol. 230(C).
    14. Amaury Chesné & Romanos Ioannidis, 2024. "An Investigation of the Perception of Neoclassical, Eclectic, Modernist, and Postmodern Architecture within Different Urban Landscapes: Athens vs. Paris," Land, MDPI, vol. 13(3), pages 1-29, March.
    15. Buenau, K.E. & Sather, N.K. & Arkema, K.K., 2025. "A marine energy and ecosystem service framework for coastal communities," Renewable and Sustainable Energy Reviews, Elsevier, vol. 216(C).
    16. Arouri, Mohamed El Hedi, 2011. "Does crude oil move stock markets in Europe? A sector investigation," Economic Modelling, Elsevier, vol. 28(4), pages 1716-1725, July.
    17. Ekhlas Al-hajj & Usama Al-Mulali & Sakiru Adebola Solarin, 2021. "Exploring the nexus between oil price shocks and sectoral stock returns: a new evidence from stock exchange in Malaysia," Economic Change and Restructuring, Springer, vol. 54(1), pages 199-217, February.
    18. Boulanouar, Zakaria & Essid, Lobna & Farid, Saqib & Ben Mahjoub, Lassaad, 2025. "Asymmetric threshold effects of economic growth on renewable energy in response to energy price fluctuations," The Journal of Economic Asymmetries, Elsevier, vol. 31(C).
    19. Sirin, Selahattin Murat & Yilmaz, Berna N., 2025. "Tech firms and the renewable energy sector: Exploring the moderating effects of institutional ownership on financial connectedness," Research in International Business and Finance, Elsevier, vol. 80(C).
    20. Fu, Yating & He, Lingyun & Xia, Yufei & Liu, Rongyan & Chen, Ling, 2025. "Asymmetric effects of media climate sentiment divergence on the volatility of green and grey energy stocks," Finance Research Letters, Elsevier, vol. 74(C).

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:6:y:2013:i:10:p:5023-5045:d:29155. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.