The Environmental Footprint of Renewable Energy Transition with Increasing Energy Demand: Eco-cost

Abstract

This study aims to assess the environmental footprint of the increasing share of renewable energy and global energy demand. The considered footprints, including GHG emission, NO_x emission, SO₂ emission and water consumption, are expressed in eco-cost. The assessment indicated that the eco-cost of global energy consumption increased, comparing 2009 (1.66 x 10¹² EUR) and 2019 (2.06 x 10¹² EUR). This suggests the increasing energy demand (+ 33 %) dominates the positive effect of the renewable energy transition. A significant reduction (= ~38 % - 52 %) on the dependency of nonrenewable energy is required to offset the effect of increasing global demand in 2050 without a substantial increase in eco-cost than 2009 and 2019. However, when referring to the European Union case, it was decreased where 2.05 x 10¹¹ EUR in 2009 and 1.65 x 10¹¹ EUR in 2019. It is progressing towards environmental footprint mitigation, provided by the marginal increase in energy demand (+ 0.4 %) and an increase in renewable energy share. The analysis could serve as a guideline for appropriate policy implications towards a sustainable energy system.