Energy security in Group of Seven (G7): a quantitative approach for renewable energy policy

ABSTRACT

This study examined the renewable energies and their impact on the economies of the Group of Seven (G7) countries. Results showed that the electricity produced from wind energy in the United States and then Germany is more than any other member countries. Due to its voluminous volcanoes, Italy has had favorable conditions for the development of geothermal energy, which has led it to be used as an efficient energy source in Italy. Results also showed that the installed capacity of geothermal systems is the lowest and hydropower systems are the highest in all G7 countries. It also concluded that, despite the high share of hydropower energy from total renewable energy capacity, the use of wind and solar energies is rapidly rising. As a result, it found that the development of solar energy occurs faster than the other renewable energies.

KEYWORDS:

• G7
• economics
• energy policy
• renewable energy
• energy security