28 June 2024 | Faisal Al Mubarak, Reza Rezaee, and David A. Wood
This review examines the economic, societal, and environmental impacts of nine major energy sources: fossil fuels, geothermal, biomass, solar, wind, hydropower, ocean, nuclear, and hydrogen. The study highlights that fossil fuels have the most substantial societal impacts, providing the largest number of jobs and highest tax revenues, but also pose significant health and environmental risks. Nuclear energy has the lowest levelized cost of energy (LCOE) range, while ocean energy has the highest. Solar, wind, and ocean energy have the lowest health and safety risks, with solar and wind providing substantial jobs. Fossil fuels generate the highest greenhouse gas (GHG) emissions and have the most adverse environmental impacts, while nuclear, ocean, solar, and wind have the lowest GHG emissions and minimal ecosystem impacts. Biomass, geothermal, and hydropower have moderate to high ecosystem impacts. Hydropower requires the most materials per unit of energy generated, followed by wind and solar. All energy sources that use thermal power generation consume substantial water for cooling. The review emphasizes the urgent need to transition away from high-carbon processes, particularly fossil fuels without carbon capture, and to reduce the use of construction materials without recycling. This transition can be facilitated by seeking alternative, more accessible materials with lower carbon footprints during manufacturing and construction. Implementing such strategies can help mitigate climate change and improve community well-being and economic growth. The study also discusses the economic viability of energy sources, their social and environmental impacts, and recommendations for improving sustainability and viability. The review concludes that there is a need for a balanced approach to energy development that considers the economic, social, and environmental impacts of different energy sources.This review examines the economic, societal, and environmental impacts of nine major energy sources: fossil fuels, geothermal, biomass, solar, wind, hydropower, ocean, nuclear, and hydrogen. The study highlights that fossil fuels have the most substantial societal impacts, providing the largest number of jobs and highest tax revenues, but also pose significant health and environmental risks. Nuclear energy has the lowest levelized cost of energy (LCOE) range, while ocean energy has the highest. Solar, wind, and ocean energy have the lowest health and safety risks, with solar and wind providing substantial jobs. Fossil fuels generate the highest greenhouse gas (GHG) emissions and have the most adverse environmental impacts, while nuclear, ocean, solar, and wind have the lowest GHG emissions and minimal ecosystem impacts. Biomass, geothermal, and hydropower have moderate to high ecosystem impacts. Hydropower requires the most materials per unit of energy generated, followed by wind and solar. All energy sources that use thermal power generation consume substantial water for cooling. The review emphasizes the urgent need to transition away from high-carbon processes, particularly fossil fuels without carbon capture, and to reduce the use of construction materials without recycling. This transition can be facilitated by seeking alternative, more accessible materials with lower carbon footprints during manufacturing and construction. Implementing such strategies can help mitigate climate change and improve community well-being and economic growth. The study also discusses the economic viability of energy sources, their social and environmental impacts, and recommendations for improving sustainability and viability. The review concludes that there is a need for a balanced approach to energy development that considers the economic, social, and environmental impacts of different energy sources.