This book presents an economic cost-benefit assessment of the penetration of renewable power generation in Cyprus up to 2030. Unlike a purely financial appraisal, we employ a social cost-benefit analysis that is mainly relevant for policy makers, taking into account - apart from direct financial costs - external costs and benefits from the diffusion of renewable electricity. The book presents a comprehensive yet straightforward case study, probably the first one conducted for Cyprus.
Electricity produced by renewable sources increased worldwide at its fastest rate to date in 2014. Driven by policies to mitigate climate change, enhance energy security and reduce air pollution, and by declining costs of major technologies, renewables account for almost all net new power generating capacity in the developed world. In this context, Cyprus is increasingly adopting renewable power generation as well. In addition to its energy and environmental commitments as a member of the European Union, the country wishes to diversify its energy supply in order to drive down electricity costs and reduce energy supply risks. A significant deployment of renewable electricity is foreseen in the coming decades. Is it economically justified for a small country with an isolated electric system like Cyprus.
- ISBN13 9783319315348
- Publish Date 30 March 2016
- Publish Status Active
- Publish Country CH
- Imprint Springer International Publishing AG
- Edition 1st ed. 2016
- Format Paperback
- Pages 49
- Language English