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Research Directions of the Energy Transformation Impact on the Economy in the Aspect of Asset Analysis

Author

Listed:
  • Mantas Svazas

    (Faculty of Bioeconomy Development, Vytautas Magnus University, 44248 Kaunas, Lithuania)

  • Yuriy Bilan

    (Faculty of Bioeconomy Development, Vytautas Magnus University, 44248 Kaunas, Lithuania)

  • Valentinas Navickas

    (Department of Economics, Lithuania Business College, 91249 Klaipėda, Lithuania)

Abstract

The challenges of climate change encourage immediate solutions by creating the conditions for energy transformation. This process is significantly related to capital investments and the conversion of existing assets to clean energy sources. Due to the need to save resources, workplaces, and public favor, specific studies involving different data groups are necessary. This article presents key data sources for analyzing the impact of energy transformation on Lithuanian regions—governance, potential, and existing power indicators. The economic, social, and governance data combined in the article will allow us to determine the perspectives of sustainable energy transformation in the regions. The article showed that in certain regions there may be major, complex problems that hinder the breakthrough of the energy system. Cluster analysis and a generic system diagram were used for the research, which showed that municipalities have a wide potential for energy transformation. The research emphasizes the governance component as a key success factor. After reorganizing the management of municipal enterprises, further actions can be initiated, since emerging competences allow progress to be made efficiently and with less time spent. The asset analysis methodology presented in the article allows for the identification of the main groups of assets that can be converted in the short term for the purpose of energy transformation, according to sustainable development principles. These decisions provide an opportunity for decision-makers to consistently implement energy transformation decisions.

Suggested Citation

  • Mantas Svazas & Yuriy Bilan & Valentinas Navickas, 2024. "Research Directions of the Energy Transformation Impact on the Economy in the Aspect of Asset Analysis," Sustainability, MDPI, vol. 16(6), pages 1-21, March.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:6:p:2556-:d:1360558
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