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Energy Economics

Edited By Abdulkadir Develi and Selahattin Kaynak

Energy resources, the basic input in every area of the economy, have a fundamental function for society’s welfare. Traditional energy resources are, however, rapidly decreasing. Energy supply has been falling behind in meeting global demand, and is causing increased focus on efficiency and economy concepts in recent energy policies. Since the existing energy resources are not spread evenly among the countries, but instead are concentrated in certain regions and countries, a monopolistic situation arises. Equally, supply assurance is an issue, since the energy supply is held by certain regions and countries who have monopolistic pricing power. Both the EU and many other countries are studying how to marketize energy. This book focuses on the importance of energy and the problems posed by it. It will be useful for the academic community, related sectors and decision makers.

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Renewable Energy, Turkey and the World

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Yusuf Bayraktutan, Sefer Ucak and Selahattin Kaynak Introduction The word energy originates from the Ancient Greek expression “energia”, meaning “doing or being something”. From this point of view, the first modern physics used the word energy for the ability of doing something1. Energy has evolved into a compulsory input, not only of industry but also of economic and social life. For this reason, the total energy consumed by human beings is constantly increasing, and environmental values are being severely affected by the increasing consump- tion of fossil fuels. Reduction in the reserves of fossil fuels, such as, mainly, coal, oil and natural gas, and the environmental problems caused by the energy obtained from these sources generate a need for alternative energy sources. This study addresses the strategic importance of energy, and the increasing role of alternative energy sources for the world and Turkey. 1. Energy Consumption and Renewable Energy Requirements Energy is a strategically important input. The countries that own energy sources have an impact on other countries by controlling price and the amount of produc- tion. It is a widely accepted observation that there has been an increase in world energy demand, energy prices, and in parallel, the search for alternative energy since the 1960s. Between the years 1980-2007, the consumption of renewable energy sources increased by 8.2% while world energy demand increased by nearly 2.3%2. It is expected that most of the world energy demand will be met from developing countries, and the share of non-renewable energy sources...

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