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A Thermodynamically Correct Treatment of Externalities with an Exergy-Based Numeraire

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  • Enrico Sciubba

    () (Department of Mechanical & Aerospace Engineering, University of Rome 1 La Sapienza, Rome, Italy)

Abstract

The concept of “sustainable development” implies that the environmental externalities unavoidably generated by human activities be reduced to a minimum: In fact, the very definition of “sustainability” leads—as it will be briefly discussed in the paper—to a physically measurable upper limit for untreated discharges. Since the current state of affairs on Earth is far from being sustainable, any proposal for a future scenario that is not substantiated by an accurate assessment of the effects of the environmental externalities is devoid of real sense and ought not to be pursued. The present paper illustrates the application of Extended Exergy Accounting (EEA) to the quantification of such externalities. The exergy flow diagrams of EEA include non-material and non-energetic production factors like labor, and capital and environmental remediation costs, providing a quantitative measure of the amount of primary resources that are cumulatively used in the production of a good or service, and it is shown to provide a wealth of quantitative information to energy managers and planners.

Suggested Citation

  • Enrico Sciubba, 2012. "A Thermodynamically Correct Treatment of Externalities with an Exergy-Based Numeraire," Sustainability, MDPI, Open Access Journal, vol. 4(5), pages 1-25, May.
  • Handle: RePEc:gam:jsusta:v:4:y:2012:i:5:p:933-957:d:17592
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    References listed on IDEAS

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    1. Wall, Göran & Sciubba, Enrico & Naso, Vincenzo, 1994. "Exergy use in the Italian society," Energy, Elsevier, vol. 19(12), pages 1267-1274.
    2. repec:eee:ecomod:v:222:y:2011:i:4:p:1060-1066 is not listed on IDEAS
    3. Ptasinski, K.J. & Koymans, M.N. & Verspagen, H.H.G., 2006. "Performance of the Dutch Energy Sector based on energy, exergy and Extended Exergy Accounting," Energy, Elsevier, vol. 31(15), pages 3135-3144.
    4. Milia, Daniela & Sciubba, Enrico, 2006. "Exergy-based lumped simulation of complex systems: An interactive analysis tool," Energy, Elsevier, vol. 31(1), pages 100-111.
    5. Lozano, M.A. & Valero, A., 1993. "Theory of the exergetic cost," Energy, Elsevier, vol. 18(9), pages 939-960.
    6. Talens Peiró, L. & Villalba Méndez, G. & Sciubba, E. & Gabarrell i Durany, X., 2010. "Extended exergy accounting applied to biodiesel production," Energy, Elsevier, vol. 35(7), pages 2861-2869.
    7. Ayres, Robert U & Kneese, Allen V, 1969. "Production , Consumption, and Externalities," American Economic Review, American Economic Association, vol. 59(3), pages 282-297, June.
    8. Seckin, C. & Sciubba, E. & Bayulken, A.R., 2012. "An application of the extended exergy accounting method to the Turkish society, year 2006," Energy, Elsevier, vol. 40(1), pages 151-163.
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    Cited by:

    1. Seckin, Candeniz & Bayulken, Ahmet R., 2013. "Extended Exergy Accounting (EEA) analysis of municipal wastewater treatment – Determination of environmental remediation cost for municipal wastewater," Applied Energy, Elsevier, vol. 110(C), pages 55-64.
    2. Golberg, Alexander, 2015. "Environmental exergonomics for sustainable design and analysis of energy systems," Energy, Elsevier, vol. 88(C), pages 314-321.

    More about this item

    Keywords

    sustainable development; exergy; extended exergy; environmental externalities;

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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