Economic, Societal, and Environmental Impacts of Available Energy Sources: A Review

Economic, Societal, and Environmental Impacts of Available Energy Sources: A Review

28 June 2024 | Faisal Al Mubarak, Reza Rezaee, David A. Wood
The review examines the economic, societal, and environmental impacts of various energy sources, including fossil fuels, geothermal, biomass, solar, hydropower, hydrogen, nuclear, ocean, and wind energies. Key findings include: 1. **Economic Impacts**: - Fossil fuels have the lowest levelized cost of energy (LCOE) and provide the most jobs and tax revenues. - Nuclear energy has the lowest LCOE range, while ocean energy has the highest. - Fossil fuels, biomass, and nuclear energy pose significant health and social well-being risks. - Solar, ocean, and wind energy have the lowest health and safety risks and provide substantial job opportunities. 2. **Societal Impacts**: - Fossil fuels sustain global employment but contribute to climate change and environmental pollution. - Geothermal energy has minimal direct impacts but moderate indirect effects, with potential health risks from radiation and toxic gases. - Biomass energy creates local jobs but increases food crop prices and land use. - Solar energy is rapidly growing and creating jobs in manufacturing, installation, and operation. 3. **Environmental Impacts**: - Fossil fuels generate the highest greenhouse gas (GHG) emissions and adverse impacts on ecosystems. - Nuclear, solar, and wind energies have the lowest GHG emissions and moderate to low impacts on ecosystems. - Biomass, geothermal, and hydropower have moderate to high ecosystem impacts. 4. **Material and Water Consumption**: - Hydropower facilities require the most materials (mainly concrete), followed by wind and solar energy, which require substantial steel and concrete. - All thermal power generation processes consume significant amounts of water for cooling. 5. **Policy and Strategy**: - There is an urgent need to transition away from high-carbon processes, particularly fossil fuels, and to reduce material consumption without recycling. - Strategies to mitigate climate change and improve community well-being and economic growth include adopting more sustainable materials and technologies. The review emphasizes the importance of understanding these impacts for rational evaluation and the development of strategies for economic growth and energy security.The review examines the economic, societal, and environmental impacts of various energy sources, including fossil fuels, geothermal, biomass, solar, hydropower, hydrogen, nuclear, ocean, and wind energies. Key findings include: 1. **Economic Impacts**: - Fossil fuels have the lowest levelized cost of energy (LCOE) and provide the most jobs and tax revenues. - Nuclear energy has the lowest LCOE range, while ocean energy has the highest. - Fossil fuels, biomass, and nuclear energy pose significant health and social well-being risks. - Solar, ocean, and wind energy have the lowest health and safety risks and provide substantial job opportunities. 2. **Societal Impacts**: - Fossil fuels sustain global employment but contribute to climate change and environmental pollution. - Geothermal energy has minimal direct impacts but moderate indirect effects, with potential health risks from radiation and toxic gases. - Biomass energy creates local jobs but increases food crop prices and land use. - Solar energy is rapidly growing and creating jobs in manufacturing, installation, and operation. 3. **Environmental Impacts**: - Fossil fuels generate the highest greenhouse gas (GHG) emissions and adverse impacts on ecosystems. - Nuclear, solar, and wind energies have the lowest GHG emissions and moderate to low impacts on ecosystems. - Biomass, geothermal, and hydropower have moderate to high ecosystem impacts. 4. **Material and Water Consumption**: - Hydropower facilities require the most materials (mainly concrete), followed by wind and solar energy, which require substantial steel and concrete. - All thermal power generation processes consume significant amounts of water for cooling. 5. **Policy and Strategy**: - There is an urgent need to transition away from high-carbon processes, particularly fossil fuels, and to reduce material consumption without recycling. - Strategies to mitigate climate change and improve community well-being and economic growth include adopting more sustainable materials and technologies. The review emphasizes the importance of understanding these impacts for rational evaluation and the development of strategies for economic growth and energy security.
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Understanding Economic%2C Societal%2C and Environmental Impacts of Available Energy Sources%3A A Review