Energy Quadrilemma: Social Acceptance as a New Factor

Energy Qaudrilemma

Energy is one of the basic needs in people’s life and countries’ development. Nevertheless, energy generation technologies have become the most controversial topic. It gained significant attention around the world after addressing global warming’s severe consequences. United Nations (UN) Secretary-General Ban Ki-moon said, “We are the first generation that can end poverty, the last that can end climate change”. Therefore, the UN urges countries to react hastily to limit global warming to save people and the Planet by introducing an effective strategic plan, because warming by more than 2 °C would induce tragic and irremediable damage. These environmental implications create social pressures to compel political and economic decision makers to introduce new legislations and develop an alternative technology to mitigate these consequences.  An urgent response is mandatory to stop greenhouse gases (GHGs) emissions contribution by reducing reliance on fossil fuel energy. Fossil fuels account for 81.1% of global energy production and contribute 33,481 million tons of CO2, which makes finding alternative energy sources one of the main challenges in this century. To find alternative energy sources, the real challenge is exploring alternative energy sources that are environmentally friendly and capable of securing the supply at low cost. That is known as the energy trilemma, to produce sufficient and affordable green energy. Seeking a solution for the energy trilemma has become the main driver for countries to save the world.

Energy Quadrilemma

A new factor which is social acceptance should be considered on top of the previous energy trilemma factors. Understanding social factors of energy sources gained considerable academic and business attention. Energy generating, supplying, pricing and to what extent it affects the environment has become a priority for communities. Social factors related to energy include job creation, CO2 reduction, cultural values, demography, social mobility, lifestyle, prosperity, equality, and global responsibility. Social acceptance cannot be underestimated, after the Fukushima accident in 2011, Japan’s government decided under social pressure to terminate nuclear power and opted to spend more on alternative projects to win public acceptance. If technical and environmental challenges are overcome, social issues should be understood due to their importance in the development of marine energy. Indeed, the elements of social acceptance and economic well-being have been recommended to be added to the energy trilemma, which would become a quadrilemma, which would set an extra constraint on the future of energy development policy. The argument of “not in my back yard” syndrome is one of the main social obstacles to deploying renewable technology, in fact it began with wind turbine location. However, now it describes the related noise and visual impact.

Technologies evaluation in energy quadrilemma

Renewable Energy Market

There is a clear bond between energy and economic growth. These factors may include level of employment, taxes, inflation, exchange, GDP, educational and purchasing attitude levels. These elements indicate to what extent the desirable market is stable and attractive for investment. However, the market is not isolated from global events and the commodity market, which might influence its performance. According to IEA’s report, the renewable sector is expected to decrease by 13% in 2020 owing to delay to the project construction and supply chain interruption; however, still renewable is more robust than nuclear energy and fossil fuel energy, which is the only sector expected to grow this year, even in the current pandemic renewable energy is the only sector that is growing. However, the lack of new investment projects is not satisfying global investors’ demand. Strategically, energy as a product is irreplaceable. Moreover, there are limited sources of renewable energy and a slow pace of innovation. The barrier to entering the energy market is high; however, once new player managed to enter the market, the disadvantages become advantages. The renewable energy market is promissing and feasible taking in the consideration the energy quadrilemma factors.

Coronavirus impact on energy

 References 

• The Royal Society of Edinburgh. (2019, June). Scotland’s Energy Future. Retrieved from http://www.rse.org.uk/wp-content/uploads/2019/06/Energy-Report-for-Web-2.pdf.
• International Energy Agency (IEA). (2020, July). Renewable Energy Market Update: Outlook for 2020 and 2021. Retrieved from https://webstore.iea.org/download/direct/2999.
• KPMG. (2020). Budget 2020: Implications for the Energy Sector. KPMG. Retrieved from https://home.kpmg/uk/en/home/insights/2020/03/budget-2020-implications-for-the-energy-sector.html.