A Techno-Economic Analysis of the Interconnectedness between Energy Resources, Climate Change, and Sustainable Development

TL;DR

This paper analyzes the complex relationship between energy resources, climate change, and sustainable development using a techno-economic framework, highlighting the importance of small-scale renewable investments for sustainable growth.

Contribution

It introduces a comprehensive techno-economic analysis approach to evaluate energy projects' impacts on climate change and sustainability, with a case study on small wind farm investments.

Findings

Smaller 2-MW wind projects are more efficient and adaptable than larger 18-MW ones.

Economic viability of small-scale renewable projects depends on social and environmental considerations.

Collaboration among stakeholders is essential for transitioning to a sustainable, green economy.

Abstract

Abstract: The rising global temperatures caused by climate change significantly impact energy consumption and electricity generation. Fluctuating temperatures and frequent extreme weather events disrupt energy production and consumption patterns. Addressing these challenges has become a priority, prompting governments, industries, and societies to pursue sustainable development and embrace eco-friendly economies. This strategy aims to decouple economic growth from environmental harm, ensuring a sustainable future for generations. Understanding the link between climate change, energy resources, and sustainable development is crucial. Techno-economic analysis provides a framework for evaluating energy-related projects and policies, guiding decision-makers toward sustainable solutions. A case study highlights the interaction between hydroponic unit energy needs, electricity pricing from wind farms, and product sales prices. Findings suggest that smaller 2-megawatt investments are more efficient and adaptable than larger 18-megawatt projects, proving economically viable and technologically flexible. However, such investments must also consider their social and environmental impacts on local communities. Sustainable development seeks to ensure that progress benefits all stakeholders while protecting the environment. Achieving this requires collaboration among governments, businesses, researchers, and individuals. By fostering innovation, adopting eco-friendly practices, and creating supportive policies, society can transition to a green economy, mitigating climate change and promoting a sustainable, resilient future.