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Authors and TitlePublished in
Wirl F., Yegorov Y. “Renewable Energy: Models, Implications and Prospects”In: Lucas Bernard, Willi Semmler, eds. The Oxford Handbook of the Macroeconomics of Global Warming. Oxford Univ. Press, 2014. ISBN-13: 978-0199856978 

 Abstract: This paper investigates the prospects of renewable energy from an economic point of view and presents a few economic models that address specific issues. Although the transition to renewable energy is inevitable given the threats the world faces when avoiding that, the path is not so simple and is definitely cannot be driven by only market forces. The upshot is that the prospects of substantial and cheap availability of renewable energy is very unlikely on economic grounds unless a number of issues in particular substantial technical breakthroughs and binding agreements on global warming mitigation are simultaneously satisfied. Otherwise crucial players will counteract undermining the apparent profitability. However, there is no alternative to renewable energy. Ultimately, renewable energy must prove its use in the market and energy poverty in the Third World provides a huge and profitable playground for renewables. 

Fachbereich für Industrie, Energie und Umwelt
Univ.-Prof.Dr. Franz Wirl
Universität Wien

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