Economic Effects of Renewable Energy Technologies

Abstract

Rapid economic development has resulted in the more frequent use of renewable
energy technologies. On the other hand, the production and use of renewables
fosters the development of new technologies, creating many new opportunities
for entrepreneurial-minded individuals and, consequently, the economy in general.
Renewable energy technologies have a multiplier effect in spurring the economy
and the development of not only the energy sector but also all the supporting
activities related to such industry. The purpose of this research is to analyse both
the positive and the negative economic effects of investing in various renewable
technologies, as well as to confirm, by means of the energy-economy model, the
benefit of such technologies in boosting the economy.