Economics Homework Help

I’m studying and need help with a Economics question to help me learn.

Explain the one thing that was most interesting to most of the group members and why. This should be no less than 300 words from the below 5 articles. You need to choose any article from below 5 articles.

After choosing 1 article, Then you need write what was most interesting and why.

Need APA style and Plagarism check.

RENEWABLE ENERGY VS FOSSIL FUELS

Article 1

Asim, M., Saleem, S., Imran, M., Leung, M. K. H., Hussain, S. A., Miró, L. S., & Rodríguez, I. (2020). Thermo-economic and environmental analysis of integrating renewable energy sources in a district heating and cooling network. Energy Efficiency (1570646X), 13(1), 79–100. https://doi.org/10.1007/s12053-019-09832-9

This essay underlines the reality that the globe is now anxious to discover a sustainable energy supply source. However, the answer to this issue is easy and is handled by renewable energy sources. The energy and climate change challenges have come to an end as a consequence. The relationship between energy usage and global warming is already known to us. As soon as its most significant objective has been met, the Government has long proclaimed climate protection. The implications of rapid climate change are already becoming more and more apparent that they can go far beyond our imaginations and would be a show of helplessness rather than optimism. As a result, the government plans to restructure the energy supply system as a whole speedily. Given the threat to our environment caused by climate change, in a few decades, our energy demands will be completely met. This article focuses on the study’s efforts to classify the different territories in a certain region based on the similarity of the assessed ability of their respective renewable resources. The regions are also categorized by their economic and demographic structure and their geographical unique characteristics. This article explores Switzerland’s characteristics as a potential renewable energy reserve source. Some intriguing trends of renewable energy regional expansion can be examined. This paper also indicates that the macro-regions of the specific region are heterogeneous inside the territories and national frontiers. Politicians focus more on establishing global strategies and policies for renewable energy sources. The authorities declare that fossil fuels are replaced by renewable energy sources and that a way is found to limit the speed with which global temperature increases. Conventional fossil fuels are numerous useful resources and provide a grave environmental concern, such as air and global warming. Now, in the energy sector and numerous other areas of the economy, fossil fuel has been substituted with renewable energy sources (Rodríguez, I. (2020)).

Article 2

Kulagin, V. A., Grushevenko, D. A., & Kapustin, N. O. (2020). Fossil fuels markets in the “energy transition” era. Russian Journal of Economics, 6(4), 424–436.https://doi.org/10.32609/j.ruje.6.55177

The major goal of the present paper was to establish both a theoretical and methodological framework for the future bioconversion of energy resources and technological materials to optimize profitability through various commercial operations. The direction for the utilization of biological gas was examined using different abstract logic, trade model statistics, and monographic approaches. In this study, the author shows that the development of energy crops for biogas generation may contribute significantly to boosting gross revenue. Many green plants, cereals, and root crops can also generate large levels of methane. It is also found. The target function is seen as the maximum gross revenue generated by the use of biogas, as its electricity consumption, engine and hot fuels are some limitations, and the production of biogas each year the research suggests an algorithm for the decision-making process for the construction of the digester. In particular in petroleum products, the increased population, globalization, and industry, there have been high levels of energy and non-renewable energy depletion. Today the people prefer to utilize a large quantity to heat, manufacture, transport, and other operations using fossil fuels. Internal combustion engines represent a substantial proportion of fossil fuel usage. They are accountable solely for HEG emitting from the air as a consequence of the oxygen, water vapor, and fossil fuel reactions when burnt carbon dioxide is generated. Furthermore, a few additional gasses including nitrous oxide and sulfides are also emitted. The dangerous gas produced by the consumption of fossil fuels has led to numerous fatalities and diseases among the world’s citizens. However, it can’t be prevented but lessened. Biodiesel is the most frequent way of reducing hazardous gas. It relaxes the release of hazardous gas into the air and can prevent illness and fresh environmental conditions, ecology, industry, and economic performance. Scientists are establishing new approaches. They reportedly provided improved combustion for ICEs when nanoparticles were introduced to the pure diesel fuel (Kapustin, N. O. (2020)).

Article 3

Miguel, C. V., Mendes, A., & Madeira, L. M. (2018). An Overview of the Portuguese Energy Sector and Perspectives for Power-to-Gas Implementation. Energies (19961073), 11(12), 3259.https://doi.org/10.3390/en11123259

Farming and the lack of energy frameworks function as a significant source in policy development as in the institutional conceptions policy alternatives are extremely limited. Renewable energy has become a significant subject, in conjunction with energy policy. There are many sorts of laws and international legal frameworks created to differentiate energy sources into renewable and non-renewable resources in the various areas of the country. Renewable energy sources are closely connected to sustainability and good mitigation of climate change. The proposal was made to avoid entirely renewable energy and to consider it based on carbon emissions and whether or not they are after combustion. The mitigation of climate change and institutional ideas has been observed to be a failure. The results of low carbon techniques and their costs must be properly analyzed and quantified. This article discusses developments, correct ideas, explanations and descriptions, terminology, and policies linked to communication rather than relying on the old notions which are accessible. The methods of the “bait and switch,” which industry and politicians employ to market energy resources as renewable energy and utilize renewable energy sources as an instrument of fossil fuel companies, should be further focused on. Energy safety and climate and fresh air need to be expanded, but this constant decrease can have a big effect on this. However, the policies of pro-coal energy and an extra quantity of carbon dioxide gas that is created by the new coal power plants are being used by several developed and developing countries. The development of energy projects and various infrastructure projects demands enormous financial resources. Instead of greenhouse initiatives, these institutions are still more interested in fossil-based ventures. This is because they believe that the adoption of new technology might present numerous dangers and that they will get a poor rate of return. Green projects require significant financing that will bring advantages for their environment to promote new technology, including green bonds, carbon market, financial analyses, funding, new laws, central banking (Madeira, L. M. (2018)).

Article 4

SašaŽiković, & Ivan Gržeta. (2017). Competitiveness of Renewable Energy Sources on the Liberalized Electricity Market in South Eastern Europe Countries. International Journal of Energy Economics and Policy, 7(3), 326–336.

Changes in fossil fuel pricing too low carbon and renewable energy changes can influence the process by making it more expensive by raising the cost of fossil fuels. This shows the time and geographical influence on fossil fuel extraction and use, together with a good climate policy. The conversion of renewable energy can cause a decrease in demand for coal and gas. The demand reduction was seen to be less than the volume of renewable power. However, a little decrease might also contribute to price change. Coal and gas are highly unclear about their price elasticity. It relies on the state of the market and temporal changes. The cost will grow further if the manufacturers strive to compensate for the loss in market share. The supply curve will thus be shifted southward. Technological improvements can only be accomplished. The impacts of carbon pricing, climate change, and industrial actions must be taken care of through interaction with other markets. The time duration and the influence on the competitiveness of renewable energy sources must be considered to provide a fair quantity estimate of price reductions. Anticipation is necessary, as islands mapping, taking account of biophysical parameters such as topography and climate change, land use, and developmental socio-economical variables. Suitable land for many industries, including biofuels, croplands and energy resources, mining, and fossil fuels, helped to expand globally. Only one kind of global and fossil fuels ignores other aspects, such as the distance of the market which comprises the distance between the urban regions, operating expenses, site operations, and loads. The last worldwide publication, however, was linked to food and biofuels as the main farmland map. It focuses on the abandoned and marginal land capacity for biofuel production. In light of both the potential and development of resources, few technologies, such as solar concentrated, solar photovoltaic, wind, and unusual oil, are employed (Ivan Gržeta. (2017)).

Article 5

Tohjima, Y., Patra, P. K., Niwa, Y., Mukai, H., Sasakawa, M., & Machida, T. (2020). Detection of fossil-fuel CO 2 plummet in China due to COVID-19 by observation at Hateruma. Scientific Reports, 10(1), 18688.https://doi.org/10.1038/s41598-020-75763-6

Fossils are transformed into renewable energy by considering the primary cost and the decrease of greenhouse consumption, to limit the potential for an escalation of climate change. The replacement of the power plant would be a huge advantage. To compare economic competitiveness, mitigation and cost reduction curves might be utilized. The costs and equity curves are based on different priority selections. Investigators concentrated on calculating the return on investment in renewables and fossil fuels for the ultimate global energy stage. This allows a fair and equivalent comparison of renewable and fossil fuels with those of energy conversions utilized by the energy economy model on an aggregate which increasingly includes EROI and net energy. They conclude that the sources of energy that are dominating in many of the next three decades will continue to be fossilized fuels. The extraction of fossil fuels is very energy-intensive and hence more expensive compared with renewables. The study suggests that the fossil fuel return-to-investment ratio is considerably nearer than renewables, and may therefore quickly decrease. The researchers are also focused on the overall view of species maintenance rules in ways that are regarded as being compatible with biosphere conservation when the population begins to increase and technology development can be viewed as leading to significant resource depletion as well as environmental determination. This means that energy is mostly shifted towards renewable energy resources. A significant part of this goal is methane derivation from organic wastes and energy crops. Methane derivation from anaerobic digestion is regarded as cost-effective and efficient as compared with all other sources of biomass energy. While renewable energy is growing significantly, without the aid of fossil fuels it is not feasible to fulfill the requirement of the globe as a whole (Machida, T. (2020)).