Abstract

The effect of Renewable Energy Development on Carbon Emission Reduction in Egypt
Hagar Ali
CAPMAS, Cairo, Egypt – hagar_e@capmas.gov.eg
+2 -01091221192
Abstract
This paper provides a broad, updated picture of energy subsidies and environment effects on the Egyptian economy. It focuses on the energy subsidies for petroleum products and gas, which arise when our consumptions are increased to reflect underpricing from a domestic (rather than global) perspective, so that unilateral price reform is in countries’ own interests. The potential fiscal, environmental, and welfare impacts of energy subsidy reform are substantial. In additional to environmental costs to the economy as a result of carbon dioxide emissions from traditional energy consumption that can be avoided by renewable energy in electricity generation.
Renewable production costs are compared to benefits, defined as reductions in net carbon emissions through three scenarios are suggested based on mathematical equations which developed in Renewable Energy Authority. We also discuss structure, impact, costs, and efficiency of renewable energy supply in Egypt. The empirical results are based on a panel data estimation using Egypt data observed from 2002 to 2021 the quantity of CO2 emissions and consumptions are estimated using mathematical equations to calculate emissions which develop in the REA, in order to evaluate the environmental costs on Egyptian economy.
Our findings are that more renewable energy needs to be produced and consumed to help stop global warming. This is a challenge for everybody, especially for companies that use significant amounts of electricity. By using and producing renewable energy, companies can act on new business opportunities, meet expectations from investors, consumers and authorities, and improve their sustainability ratings of energy.
Keywords:
Sustainable Energy - Renewable Resource - Environmental Costs -CO2 Emissions -Egyptian Economy.