Tag Archives: Energy Efficiency

How The Energy Sector Is Affecting Economic Growth? – Comparing The United Kingdom with India (Published)

A country’s economy depends heavily on energy. Economic productivity and industrial growth depend on the use of energy in modern economies. In a modern economy, energy is responsible for more than one-tenth of the cost of production but accounts for most industrial growth, according to Barney and Franzi (2002). The economy’s need for energy has grown at about the same rate as that of wealth. It is a fact that wealth creation is predominantly calculated based on the usage of energy by society. At the beginning of the 19th century, biomass is the preferred choice of fuel. Energy demand in the west and advanced economies increased more rapidly because of rising standards during the end of the 20th century. In most production and consumption activities, energy plays a significant role in economic growth. An analysis of the energy sector components and their impacts on economic progress in two countries, the United Kingdom and India, was conducted based on an analytical approach. It is found in both countries that energy efficiency and foreign direct investment (net inflows) are positively correlated. Both the United Kingdom and India have significant correlations between energy efficiency and GDP (percentage of GDP). Employment rates and energy efficiency go hand in hand in both countries. India’s GDP per capita growth (annual %) is positively correlated with energy efficiency (0.447). This study followed only the economic indicators from the World Bank Development Indicators report.

Citation: Merlin Atchuthen, and S. Sankara Muthu Kumar (2022) How The Energy Sector Is Affecting Economic Growth? – Comparing The United Kingdom with India, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 9, pp.13-23

Keywords: Consumption, Energy Efficiency, GDP, Inflation, Unemployment, per capita growth

Energy Efficiency and Management as Panacea to Economic Stability In Nigeria (Published)

For any country to achieve effective growth and development, its energy has to be diversified. Nigeria depends on mono-cultural crude oil as the main source of energy which is unsustainable and this contributed solely to the economic recession in the country. Therefore, dependence on one energy source will not guarantee the energy security needed in economic sectors such as transportation, education, health, banking, security, factories etc. The paper examines how alternatives to fossil fuel can contribute in the attainment of Nigeria’s economic growth and development in terms of energy efficiency and management. On the other hand, the reviews shows that neglecting utilization of renewable energy sources such as wind, solar energy, geothermal, biomass poses a major threat to the attainment of energy security in the country. Mitigation to this challenge includes sectorial funding, research and development, promotion of energy efficiency and conservation management, and effective energy pricing policy.

Keywords: Economic Stability., Energy Efficiency, and renewable energy., energy management, sustainable energy

ASSESSMENT OF CLIMATE CHANGE WITH ENERGY EXPANSION FOR DEVELOPING COUNTRIES (Published)

The burning of fossil fuels, greenhouse gas emissions (GHG), especially CO2 may cause climate change. Environmentally friendly energy progress has major consequences for developing countries as a major emitters because their population growth and fast. This article presents an overview of the developing countries in their efforts to reduce greenhouse gas emissions by energy price reform, promote energy efficiency and renewable energy. The paper focuses on the challenges facing developing countries, such as emission standards conflicting objectives realistic and motivation is hard and social consciousness. There are some options that may be, the paper concludes that reducing greenhouse gas emissions can be achieved if the policies, standards and targeted support and motivation that is practical and flexible, and the community is actively to respond environmental degradation.

Keywords: Climate Change, Energy Efficiency, Energy progress, developing countries

NEED FOR ENERGY EFFICIENT BUILDINGS IN NIGERIA (Published)

This paper x-rays the ingredients and integration of solar passive designs with solar architecture for increased energy efficiency in buildings to achieve maximum comfort, reduced green house gases, reduced energy cost and ensures available clean and sustainable energy in such homes. Energy efficiency in buildings is one of the fundamental steps towards reducing the agents/factors that could lead to global warming and climate change. It is a common knowledge that global warming is becoming more severe universally and poses very big risk to man. In Nigeria, most buildings hardly take solar architecture and energy efficiency into consideration due to ignorance, poverty, lack of awareness and/or improper policy on building regulations by Government. Use of mechanical devices to achieve thermal comfort in buildings is not only capital intensive but also generate greenhouse gases, air and noise pollution amongst others. This paper identifies the factors hampering on the use of energy efficient buildings and solar architecture in most buildings in Nigeria. It also proffers possible solutions and the way forward.

Keywords: Building Integrated Photovoltaics, Climate Change, Energy Efficiency, Solar Architecture, Solar Passive Building

Energy Efficient Housing as a Mitigating Option for Climate Change in Nigeria (Published)

This paper discusses the capacity of energy efficiency in housing to serve as a panacea to climate change. Drawing from secondary sources, the study revealed that energy is required in houses for optimum performance. However, in Nigeria, the energy required is mostly generated from fossil fuel which emits greenhouse gasses into the atmosphere. These greenhouse gasses result in the depletion of ozone layer which causes global warming and by extension, climate change. It recommends among other things, proper landscaping, north and south orientation of houses, natural vegetation, natural lighting, the use of energy efficient electrical and mechanical appliances and the use of green power. The paper concluded that energy efficient housing environment that employs these parameters will experience reduced global warming and climate change associated challenges.

Keywords: Climate Change, Energy, Energy Efficiency, Housing, Mitigating Option, Nigeria

Energy Efficient Housing as a Mitigating Option for Climate Change in Nigeria (Published)

This paper discusses the capacity of energy efficiency in housing to serve as a panacea to climate change. Drawing from secondary sources, the study revealed that energy is required in houses for optimum performance. However, in Nigeria, the energy required is mostly generated from fossil fuel which emits greenhouse gasses into the atmosphere. These greenhouse gasses result in the depletion of ozone layer which causes global warming and by extension, climate change. It recommends among other things, proper landscaping, north and south orientation of houses, natural vegetation, natural lighting, the use of energy efficient electrical and mechanical appliances and the use of green power. The paper concluded that energy efficient housing environment that employs these parameters will experience reduced global warming and climate change associated challenges.

Keywords: Climate Change, Energy, Energy Efficiency, Housing, Mitigating Option, Nigeria