“Renewable energy for sustainable development and the impact on the global economic system”, Shawqi Al Dallal
SHAWQI AL DALLAL College of Graduate Studies and Research Ahlia University, PO Box 10878 Manama, Kingdom of Bahrain Email: shaldallal@gmail.com
DOI: 10.47556/B.OUTLOOK2018.16.8
Purpose: Energy has been always the main driver of human civilisation. This paper highlights the impact of switching from fossil fuel to renewable energy on the global economic system.
Methodology: In this paper, we discuss the unavoidable future reliance on renewable energy sources. This is achieved by investigating the global energy needs map and the future market shaped by the new technological development, and its impact on the global economic system.
Findings: This work investigates the influence of oil companies worldwide on the global economic system, and their struggle for survival when faced with ever rising and developing renewable energy systems. However, even for the foreseeable future, oil companies will not completely vanish; this is because certain oil products are used in applications and uses beyond the reach of renewable energies. In this work we also highlight the efforts deployed to produce environmentally friendly nuclear energy.
Value: Energy is a key factor in shaping the development of nations. There is a global consensus on the negative impact of fossil fuel on the environment, and on the importance of developing alternative clean energies.
Keywords: Renewable energy; Sustainable development; Global economic system; Solar energy; Nuclear energy
