The Stimulation of Renewable Energy Source Usage: Economic Mechanism

Abstract

Extraction, use, and production of traditional energy have a significant impact on the environment. The negative impact, in part, can be reduced by using renewable energy. At the moment, consumption of renewable energy, even in developed countries, remains at a low level. The basic reason is the high cost of production of renewable energy. The costs of using renewable energy are greater than the costs of production of traditional energy resources. The research task is to find approaches to encourage the production of renewable energy. The author has developed an economic mechanism to stimulate consumption of renewable energy sources.