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The danger of climate change has over the years become a reality in the public domain. While efforts to mitigate climate change involve energy mix, energy efficiency and cleaner technology, financial development has also been considered as an important factor. Indicator of financial development may draw FDI and advanced degree of research and development which can accelerate economic growth and hence affect dynamism of environmental performance. This study examines the impacts of energy use and financial development indicators by source in the environment-growth-energy model for 90 countries categorized on the basis of income possession over the period 1980–2014. The study applies the panel analysis that accounts for cross-sectional dependence and heterogeneity of series used in the estimation. Results from panel Dynamic Ordinary Least Squares (DOLS) show that in all the categories of countries, fossil fuel energy use and GDP per capita are found to be the major drivers of CO 2 emissions though fossil fuel energy use possesses the bigger elasticities. Population however, displays a sign contrary to expectation regarding economic theory in high income countries. Renewable energy and financial development on the other hand are capable of reducing CO 2 emissions. However, the magnitude of the long-run elasticity of CO 2 emissions with respect to renewable energy use and financial development are much greater in the models with M 2 /GDP than the model with M 2 /Reserve especially in the high income countries. Policies should be geared towards stimulating investments in renewable energy technology. There is need to develop robust financial systems to lend financial credence to research institutes to work towards producing energy that have less carbon or are carbon-free. [ABSTRACT FROM AUTHOR]

The near future change in productivity of photovoltaic energy (PVE) in Europe and Africa is assessed by using the climate variables simulated by the ECHAM5-HAM aerosol-climate model, and a model for the performance of photovoltaic systems. The climate simulations are forced by green-house gases emissions from the IPCC SRES B2 scenario. In addition, different scenarios for future anthropogenic aerosols emissions are applied. Thus, the sensitivity of the future PVE productivity to changes in aerosol atmospheric burdens between 2000 and 2030 is analyzed. The analysis indicates that reductions in aerosols emissions in the near future result in an increase of global warming, and a significant response in surface solar radiation and associated PVE productivity. A statistically significant reduction in PVE productivity up to 7% is observed in eastern Europe and northern Africa, while a significant increase up to 10% is observed in western Europe and eastern Mediterranean. The changes in surface solar radiation and PVE productivity are related to global effects of aerosols reduction on the large scale circulation and associated cloud cover pattern, rather than to local effects on the atmospheric optical properties. PVE assessment is then discussed in the frame of the present situation and next decades evolution of the photovoltaic market, highlighting that the effects on productivity induced by industrial and public policies, and technological development are comparable to climate related effects. The presented results encourage the improvement and further use of climate models in assessment of future renewable energies availability. [ABSTRACT FROM AUTHOR]

Abstract: As forecasted by the International Energy Agency Energy Technology Perspectives baseline scenario, the largest increment in LDV (light-duty vehicles) stock, travel demand and transport sector energy consumption will take place in the developing world. In the developing countries where the import of used vehicles is allowed, a considerable portion of the LDV stock increment will be realized with used vehicles. In this paper, the analytical framework for assessment of climate change mitigation potential of transport sector in developing countries is adapted in order to incorporate the expected vehicle fleet increase with used vehicles. The evaluation of appropriate mitigation strategies is performed using the GHG Costing Model (GACMO), which compares each mitigation option with the BAU (business-as-usual) option and determines its environmental effectiveness (t CO2 reduced) and economic effectiveness (US$/t CO2 reduced). The adapted analytical framework is applied on the case of transport sector of Macedonia, evaluating appropriate options inline with five mitigation strategies: improvement of vehicle fleet, introduction of low carbon fuels, improvement of travel behaviour, advancement of vehicle equipment and improvement of driver behaviour. The resulting marginal cost curve for the year 2020 indicates a total achievable reduction of 22% with respect to BAU GHG transport sector emissions, with bulk of it at relatively high specific costs of around 90 US$/t CO2. [Copyright &y& Elsevier]