Energy Crisis Risk Mitigation through Nuclear Power and RES as Alternative Solutions towards Self-Sufficiency

Abstract

This paper reviews the case of nuclear energy. Currently, the worldworld is facing one of the greatest energy crises due to the Russo-Ukrainian war. This conflict has lead to limited sources of gas, causing a dramatic decrease in energy supply, leading to emerging energy crisis risks. This is one on the main purposes of reviewing nuclear energy as a possible energy alternative in the future. Apart from presenting the basis of nuclear energy and nuclear reactors, we attempt to compare this source of electricity with other renewable energy forms, such as solar, wind and hydroelectric power. Furthermore, we illustrate the benefits and drawbacks that have been observed regarding nuclear power as well as its contribution to economic growth and the impact it has had on the environment. It has been said that, with the use of nuclear power, air pollution will be reduced because of the elimination of greenhouse gases. However, nuclear power, apart from the final product, generates waste that in this case is radioactive, meaning that the management and disposal techniques are of the utmost importance. Of course, unfortunate events that involved nuclear power do exist and are unfortunately engraved in our memories. Both the nuclear accidents, such as Three Mile Island, Chernobyl and Fukushima, and nuclear weapons usage by military forces, the well-known atomic bombing of Hiroshima and Nagasaki, bring great controversy regarding the adaptation of nuclear power. As is presented in the paper, since the beginning of the new millennium the scheme of energy production and electricity production appears to have changed drastically. By using available data reported by BR, we illustrated that the production of energy and electricity has increased over the last 22 years (2000–2021) due to excessive demand; however, what is more important to mention is the share of both electricity and energy derived from renewable forms such as solar, wind and hydroelectric power. It is shown that more and more countries adopt those sources of energy than did in previous decades. It is crucial to note that it is not the science that causes catastrophic events, but rather the errors of humans.

The Effects of Climate Change to Weather-Related Environmental Hazards: Interlinkages of Economic Factors and Climate Risk

“…Moving forward, the hypothesis testing the relationship of use of renewable energy and the CCPI is validated, as was expected, since renewable energy is another component of the index. Contrary to the greenhouse gases (GHGs), the case of renewable energy was proven to be significant, following the suggestions of a great number of researchers (Halkos and Zisiadou 2023;Bruhwiler et al 2021;Mikhaylov et al 2020;Lisin 2020;Li 2017;Huang et al 2016;Levin 2012;Pao and Tsai 2010;Elum and Momodu 2017;Albergel et al 2010;Allen et al 2009;Gregory et al 2009;Matthews et al 2009), giving us the hope that the scores of the index will be improved if we change the way we produce the energy we demand. As is obvious, the indices examined in this paper are connected to the Sustainable Development Goals (SDGs) introduced by the United Nations.…”

“…As proposed by various researchers (among others, Mikhaylov et al 2020;Meynkhard 2019Meynkhard , 2020Lopatin 2019;Huang et al 2016;Manish et al 2006), a great solution regarding global warming and climate change is to minimize the volatility of the observed temperature. Knowing that this increased temperature is mainly caused by GHG emissions, a main outcome of fossil fuels use in energy generation, it is crucial to understand that the main aim for a sustainable and prosperous future is to reduce GHG emissions by turning to "cleaner" solutions, which are environmentally sustainable and efficient regarding the energy production, such as renewable energy sources (Halkos and Zisiadou 2023;Bruhwiler et al 2021;Mikhaylov et al 2020;Lisin 2020;Li 2017;Huang et al 2016;Levin 2012;Pao and Tsai 2010;Neves and Leal 2010;Albergel et al 2010;Allen et al 2009;Gregory et al 2009;Matthews et al 2009).…”

Advantages and disadvantages of renewable energy: a review of the scientific literature

“…Finally, regarding geothermal energy, the main disadvantages found were the finding that it carries pollutants (NH3, H2S, CH4, and CO2, gases cause acid rain, affects soil stability, difficult transportation, high installation cost (Netravati & Patil, 2015;Halkos & Zisiadou, 2023;Zhou et al, 2022). These disadvantages are consequences of the very nature of the energy source, which is the planet's interior, where countless gases interact with the crust and its vital environment.…”

Does financial inclusion and information communication technology affect environmental degradation in oil-producing countries?

“…The Environmental Kuznets Curve (EKC) suggests that when an economy progresses and reaches specific levels of income per capita, the adverse environmental consequences of economic growth can be mitigated, leading to improved environmental conditions. This association means that degradation of the environment is more likely during the early stages of economic expansion, but if certain income thresholds are met, additional growth is associated with improved environmental quality [ 6 , 7 ]. Whether economic growth is viewed as a threat or an opportunity for the environment, the financial sector is critical in promoting economic expansion and affecting environmental results [ 8 ].…”