Skip to main content
Disciplines
Automotive Business IT + Informatics Construction + Real Estate Electrical Engineering + Electronics Energy + Sustainability Insurance + Risk Finance + Banking Management + Leadership Marketing + Sales Mechanical Engineering + Materials
Events
DE
EN
Books
Journals
Topic Page
Marketing
Start single access now
Access for companies
EXTENDED SEARCH
Log in
Top
Published in:
Efficient Use of Energy in the Industry Read chapter Read first chapter

2017 | OriginalPaper | Chapter

How do The External Costs of Renewable and Fossil Fuel Energy Compare?

Authors : Rohit Mistry, Lawrie Harper Simmonds

Published in: Towards 100% Renewable Energy

Publisher: Springer International Publishing

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

This chapter presents the methodology and results of the Externalities of Energy project as an example of how the environmental impacts of energy generation can be identified. ExternE was a large international research study sponsored by the European Commission. The ExternE methodology was developed to provide a consistent and transparent framework for transforming all the non-negligible external impacts of energy production into monetary values.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

inform now
previous chapter Evaluation of Wind–Solar Hybrid System for a Household in Northern Cyprus
next chapter Wind Energy Statistics in Europe: Onshore and Offshore
Footnotes
1
It should be noted that this does not necessarily imply that wind turbines represent a visual disamenity in all cases; this is dependent on the affected population and their preferences. In order to assess the effect in Turkey a study assessing this would likely be necessary. It is also true that preferences are dynamic, and can change over time.
 
2
The use of the phrase “statistical life” is intended to emphasise that VOSL is measuring a statistical change in the risk to a life, and not the value of the life of a known individual. While any given individual may value their or another’s life infinitely high, the implicit valuation through their behaviour shows that individuals accept more than zero risk to their life.
 
3
Relevant studies also highlight methodological issues in valuation such as challenges in conveying small changes in risks to respondents such that they fully comprehend them [4]. There are also key issues in comparing results from WTP and WTA estimates for risk reductions [5].
 
4
Discounting is the process by which costs or benefits that occur in the future are given less weight than those that occur in the present. This is for a number of reasons, including impatience (or “pure time preference” that individuals prefer benefits now and costs to be deferred), uncertainty regarding the future state of the world, and the opportunity cost of investment (i.e. £1 saved today will return £1 + i in a year’s time where i is the interest rate). The process of discounting generates the present value of a given sum of money:
$$ \mathrm{PV}=\frac{x}{{\left(1+ r\right)}^2} $$
Where PV is the present value of the sum of money x, r the discount rate and t the number of years into the future this sum of money is being considered.
 
Literature
1.
ExternE (1995) Externalities of energy vol. 2: methodology. Directorate General XII; Science, Research and Development, Brussels
2.
ExternE (2005) Externalities of energy: methodology 2005 update. European Commission, Directorate General for Research, Brussels
3.
ExternE-Pol (2004) Externalities of energy: extension of accounting framework and policy applications. http://​www.​externe.​info/​exterpols.​html
4.
5.
Hammitt J, Graham J (1999) Willingness to pay for health protection: inadequate sensitivity to probability? J Risk Uncertainty 18:33–62CrossRefMATH
6.
Horowitz JK, McConnell KE (2002) A review of WTA/WTP studies. J Environ Econ Manag 44:426–447CrossRefMATH
7.
Chilton S, Covey J, Jones-Lee M, Loomes G, Metcalf H (2004) Valuation of health benefits associated with reductions in air pollution. Department of Environment, Food and Rural Affairs, London
8.
Johannesson M, Johansson P (1997) To be, or not to be, that is the question: an empirical study of the WTP for an increased life expectancy at an advanced age. J Risk Uncertainty 13(2):163–174CrossRefMATH
9.
Tamburlini G (2005) Overview of the risk differences between adults and children, in economic valuation of environmental health risks to children. OECD, Paris
10.
Pearce D, Atkinson G, Mourato S (2006) Cost-benefit analysis and the environment: recent developments. OECD, Paris
11.
Metadata
Title
How do The External Costs of Renewable and Fossil Fuel Energy Compare?
Authors
Rohit Mistry
Lawrie Harper Simmonds
Copyright Year
2017
Book
Towards 100% Renewable Energy

Print ISBN: 978-3-319-45658-4

Electronic ISBN: 978-3-319-45659-1

Copyright Year: 2017

DOI
https://doi.org/10.1007/978-3-319-45659-1_35