Renewable Technologies: Advantages, Disadvantages and Strategic Policies

TL;DR

This paper reviews various renewable energy technologies, discusses their economic and social impacts, and analyzes international policies to develop these resources effectively.

Contribution

It provides a comparative analysis of renewable energy technologies and proposes strategic policies based on international experiences.

Findings

High investment costs hinder renewable adoption

Transition may cause unemployment in traditional power sectors

Effective policies are crucial for renewable energy development

Abstract

This article evaluates the types of typical renewable energy technologies separately. Switching from fossil-fuel-based technology to green energies is time-consuming and requires a high investment cost. In addition, the production of energy by new technology may cause the deactivation of some power plants, which will result in unemployment and negative economic growth impacts. In this research, the policies of different countries have been investigated, and strategies for developing these resources have been proposed.