• Energy Research
• 8. Economic growth close
• ES close
• University of Zaragoza close

The increasing depletion of natural resources, combined with a wider set of pressures on the environment, has, in recent years, highlighted the need for a more efficient use of energy and a development process that involves alternative energy sources. Energy efficiency has received much attention as a solution, implying both monetary and emissions savings. However, the latter may be partially offset by the income and demand effects of the former, both in more efficient sectors and in spreading to the wider economy. This is the problem of rebound effects. Taking Spain as a case study, and introducing an energy-related CGE model that develops the inclusion of renewables, this paper evaluates a combination of efficiency initiatives to deliver both reduced energy use by households and a more sustainable supply of energy. Our findings suggest that a package aimed at improving efficiency in household electricity and petroleum use, combined with a more competitive supply of energy from renewable sources, may be the only way to get reductions in all energy use, and thus benefit the economy. Specifically, we consider how this package may lead to positive economic impacts and associated rebound effects, where the latter are focused on a greener energy supply.

This paper analyzes the co-movements of prices of fossil fuels, energy stock markets and EU allowances. This analysis is conducted in order to identify the spillover effect of volatility and correlation among these financial markets, and to provide a scientific basis that shows the interest of incorporating sustainable assets in the design of minimum risk strategies of investment. To achieve this goal, we have used a Vector Autoregressive-Dynamic Conditional Correlation-Generalized Autoregressive Conditional Heteroscedasticity (VAR-DCC-GARCH) model that also incorporates a stock index of industrial companies as a leading indicator of the level of economic activity. In addition, the paper conducts an impulse response analysis to determine how unexpected shocks to prices are propagated along time, and, in particular, how they affect prices of the others, both in mean, variance and correlation. Therefore, the results of this one- and two-dimensional analysis allow for the study of short and long run dynamics of the relationship among those prices, thus, providing greater meaning and information for investors, which has implications for building their portfolios. The analyzed period was from January 2010 to February 2021, so that the data include half of phase II, full phase III and the onset of phase IV of the EU ETS, as well as the COVID-19 outbreak in the European context. We also analyzed whether the EUA price impulses the demand of clean energy stocks, which has important implications for the objective of triggering the investment in clean energy. Our results show the transmission mechanism of all of those prices, which are relevant not only for investors but also for policymakers to construct an early-warning system, revealing the most important transmission channels. Moreover, from an investment viewpoint, we observe a decline in dirty energies and a rise in the clean energy market, which might be an indication of the progress towards the energy transition to renewables sources within a circular economy perspective. Therefore, this shows that the EU ETS is achieving its goals, and that clean energy companies, aligned with their role towards socially responsible initiatives, are also gaining acceptance in terms of investments, which would be beneficial for the environment.

Electricity prices have risen sharply in Spain in recent years, to the point where they are now among the highest in the EU. The scant competition between power utilities, changes in the law, and the tariff deficit (accumulated debt in favour, mainly, of the electricity firms), have driven up the cost of electricity, affecting numerous other industries such as irrigated agriculture, a sector that has significantly increased its electricity consumption as a result of modernization processes over the past twenty-five years. We examine these issues through a case study of an irrigation scheme in Spain that provides irrigation water and infrastructure to 58 farming communities in north-eastern Spain, and is highly representative of the Ebro Valley. Based on the results of direct estimations and simulations of different tariffs, we propose the lowering of capacity-based tariffs to reduce sector problems and cut energy costs, especially for farmers. We also raise the possibility of increasing self-consumption, a complementary measure for many farmers and for medium-size firms.

Abstract This paper describes the construction and analysis of a disaggregated input-output model and its extension to a social accounting matrix (SAM) for the Spanish economy in 2013. Our focus is the specific disaggregation of the electricity industry into the generating, transmission, distribution and marketing businesses, which were decoupled in 1997 under legislation prohibiting any single company from conducting more than one of them. The multi-sectoral framework also allows disaggregation of electricity generating by production technologies (wind, nuclear, conventional thermal, hydropower, solar and other technologies). To the best of our knowledge, this is the first paper in which this information is presented in a multi-sectoral framework for the Spanish economy, which is enormously dependent on the electricity industry. The structural analysis reveals the industry's role in Spain and the importance of its activities. None of the electricity generating businesses is a Rasmussen key sector, and generating and distribution are both capital-intensive activities. Meanwhile, conventional thermal and hydropower generating together make up more than 50% of total output in value terms, while nuclear power accounts for only around 7%. Finally, imports and exports of electricity are small, and almost all demand is covered by domestic production.

Sustainability and population have a complex relationship. Popular versions of the first are usually based on the premise of reducing the population. However, in some remote rural areas with a low density, this condition needs to be reconsidered, as it would put the viability of the local community at risk and lead to environmental, economic and, above all, social losses. Although repopulation is impossible, since remote rural areas have an ageing demographic structure and an extremely low fertility rate, we can propose the regeneration of their human, social and relational capital by attracting talent and commitment. To achieve this, the Desafío Programme (Rural Erasmus) enables university students to do internships in companies and institutions in sparsely populated areas, living alongside their residents. Despite being an experimental policy with a narrow scope in statistical terms, the Desafío Programme is an inspiring experience supported by those who have participated in it and contributes to the social and economic regeneration of areas in decline. This is a practical case of applying a sustainable strategy to a rural area in crisis, which can be transferred to many other countries facing a similar problem.

The promotion of rural development can benefit from the advancement of renewable energies as potential sources of growth and income in an integrated economy. Rural areas have attracted a significant proportion of renewable energy installations, mainly wind energy. Moreover, the development of renewables has been explicitly claimed as a key instrument to support rural economies through job creation, new sources of income for landowners and local authorities, and more sustainable industries with the revitalization of their productive systems. However, the installation of renewable energies can have, in the short and long term, different impacts on the territory. This study explores Campo de Belchite citizens’ perception of the effects wind energy installations has on the economy, demography, and employment opportunities. The Campo de Belchite county (Aragon) was used as a case study due to its wind-farm development. Citizens perceptions on the socio-economic effects and expectations of renewable energies have been explored on the basis of their responses to an online survey. Findings show a great heterogeneity between agents and territories, both in the evaluation of impacts and in their hopes. The management model plays a critical role for achieving its social acceptance. This work contributes with industrial and energy policy insights that call for a more decentralized, participatory and transparent management models.

Sustainable commuting (SC) usually refers to environmentally friendly travel modes, such as public transport (bus, tram, subway, light rail), walking, cycling, and carpooling. The double aim of the paper is to summarize relevant prior results in commuting from a social approach, and to provide new, international empirical evidence on carpooling as a specific mode of sustainable commuting. The literature shows that certain socio-demographic characteristics clearly affect the use of non-motorized alternatives, and compared to driving, well-being is greater for those using active travel or public transport. Additionally, this paper analyzes the behavior of carpooling for commuting, using ordinary least squares (OLS) models, which have been estimated from the Multinational Time Use Study (MTUS) for the following countries: Bulgaria, Canada, Spain, Finland, France, Hungary, Italy, South Korea, the United Kingdom, and the United States. Results indicate that carpooling for commuting is not habitual for workers, as less than 25% of the total time from/to work by car is done with others on board. With respect to the role of the socio-demographic characteristics of individuals, our evidence indicates that age, gender, education, being native, and household composition may have a cross-country, consistent relationship with carpooling participation. Given that socializing is the main reason for carpooling, in the current COVID-19 pandemic, carpooling may be decreasing and, consequently, initiatives have been launched to show that carpooling is a necessary way to avoid crowded modes of transport. Thus, the development of high-occupancy-vehicle (HOV) lanes by local authorities can increase carpooling, and draw attention to the economic and environmental benefits of carpooling for potential users.