DO COSTS OF RENEWABLE ENERGY INCREASE GENERATION? AN EMPIRICAL TEST ACROSS EURASIAN COUNTRIES
Journal Title: International scientific journal Science and Innovation - Year 2024, Vol 3, Issue 1
Abstract
Currently, renewable energy plays a vital role in the modern global economy to improve affordable soft and cheap energy. Additionally, growth of the population, dependent on import energy and shortage of natural resources, conflicts between countries (Russia and the Ukraine) and sanctions force to solve the energy problems globally. Considering the generation of renewable energy between costs on it, we investigate how much investment on renewables increases dependent respectively. We explore the effect of capital costs from government or investment on renewable energy generation, using data from 72 Eurasian nations for 2019, taking into consideration investment cost variables. We use levelized cost of electricity (LCOE) estimation to tuck up costs of variables which included capital, operation and maintenance. Besides, we include modeling other variables to show the estimating capital variable, and the results were almost unchanged. We use cross sectional secondary data from the sites Global Economy and Our World in Data, report of IRENA and the study reveals the positive relationship with initial investment which refer to improving this type of energy sector. Though, operation and maintenance costs are implicit and not concrete because of different types of plants to generate the energy, for instance, in solar PV labor costs are taken 15% to 20% from the generation in a year, in wind or hydro production of energy are different as well. In operation and maintenance costs are fixed and variable costs that subtracted from generation and equalized per year. According nebulosity, the operation and maintenance costs are omitted in our research. Finally, we checked for robustness standard error tests to avoid heteroscedasticity
Authors and Affiliations
Surayyo Kushbakova
Keywords
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- EP ID EP729940
- DOI 10.5281/zenodo.10546673
- Views 51
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