Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development

The global energy mix is shifting from fossil fuels to combinations of multiple energy storage and generation types. Hybrid energy system advancements provide opportunities for developing and deploying innovative green technology solutions that can further reduce emissions and achieve net-zero emiss...

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Autores principales:	Haroon ur Rashid Khan, Usama Awan, Khalid Zaman, Abdelmohsen A. Nassani, Mohamed Haffar, Muhammad Moinuddin Qazi Abro
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	renewable electricity production industrial decarbonization strategies refined oil products production carbon intensity decarbonization Technology T
Acceso en línea:	https://doaj.org/article/3466ee944ae94fefbcd30b22cb7d7d57
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spelling	oai:doaj.org-article:3466ee944ae94fefbcd30b22cb7d7d572021-11-25T17:27:20ZAssessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development10.3390/en142276201996-1073https://doaj.org/article/3466ee944ae94fefbcd30b22cb7d7d572021-11-01T00:00:00Zhttps://www.mdpi.com/1996-1073/14/22/7620https://doaj.org/toc/1996-1073The global energy mix is shifting from fossil fuels to combinations of multiple energy storage and generation types. Hybrid energy system advancements provide opportunities for developing and deploying innovative green technology solutions that can further reduce emissions and achieve net-zero emissions by 2050. This study examined the impact of an increasing share of wind and solar electricity production on reducing carbon intensity by controlling coal and lignite domestic consumption and the production of refined oil products in a world aggregated data panel. Data covering the last three decades were used for the analysis by the ARDL bounds testing approach. The results showed that an increasing share of wind and solar electricity production would be helpful to decrease carbon intensity in the short and long term. On the other hand, a 1% increase in coal and domestic lignite consumption increased carbon intensity by 0.343% in the short run and 0.174% in the long run. The production of refined oil products decreases carbon intensity by 0.510% in the short run and 0.700% in the long run. However, refining oil products is associated with positive and negative environmental externalities. The positive aspect depends upon the removal of harmful pollutants and the production of cleaner-burning fuels, while the negative part is related to the operational side of refineries and processing plants that may release contaminants into the atmosphere, affecting global air and water quality. Hence, it is crucial to improve processing and refining capacity to produce better-refined oil products by using renewable fuels in energy production. It is proposed that these are the most cost-effective pathways to achieve industrial decarbonization.Haroon ur Rashid KhanUsama AwanKhalid ZamanAbdelmohsen A. NassaniMohamed HaffarMuhammad Moinuddin Qazi AbroMDPI AGarticlerenewable electricity productionindustrial decarbonization strategiesrefined oil products productioncarbon intensitydecarbonizationTechnologyTENEnergies, Vol 14, Iss 7620, p 7620 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	renewable electricity production industrial decarbonization strategies refined oil products production carbon intensity decarbonization Technology T
spellingShingle	renewable electricity production industrial decarbonization strategies refined oil products production carbon intensity decarbonization Technology T Haroon ur Rashid Khan Usama Awan Khalid Zaman Abdelmohsen A. Nassani Mohamed Haffar Muhammad Moinuddin Qazi Abro Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development
description	The global energy mix is shifting from fossil fuels to combinations of multiple energy storage and generation types. Hybrid energy system advancements provide opportunities for developing and deploying innovative green technology solutions that can further reduce emissions and achieve net-zero emissions by 2050. This study examined the impact of an increasing share of wind and solar electricity production on reducing carbon intensity by controlling coal and lignite domestic consumption and the production of refined oil products in a world aggregated data panel. Data covering the last three decades were used for the analysis by the ARDL bounds testing approach. The results showed that an increasing share of wind and solar electricity production would be helpful to decrease carbon intensity in the short and long term. On the other hand, a 1% increase in coal and domestic lignite consumption increased carbon intensity by 0.343% in the short run and 0.174% in the long run. The production of refined oil products decreases carbon intensity by 0.510% in the short run and 0.700% in the long run. However, refining oil products is associated with positive and negative environmental externalities. The positive aspect depends upon the removal of harmful pollutants and the production of cleaner-burning fuels, while the negative part is related to the operational side of refineries and processing plants that may release contaminants into the atmosphere, affecting global air and water quality. Hence, it is crucial to improve processing and refining capacity to produce better-refined oil products by using renewable fuels in energy production. It is proposed that these are the most cost-effective pathways to achieve industrial decarbonization.
format	article
author	Haroon ur Rashid Khan Usama Awan Khalid Zaman Abdelmohsen A. Nassani Mohamed Haffar Muhammad Moinuddin Qazi Abro
author_facet	Haroon ur Rashid Khan Usama Awan Khalid Zaman Abdelmohsen A. Nassani Mohamed Haffar Muhammad Moinuddin Qazi Abro
author_sort	Haroon ur Rashid Khan
title	Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development
title_short	Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development
title_full	Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development
title_fullStr	Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development
title_full_unstemmed	Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development
title_sort	assessing hybrid solar-wind potential for industrial decarbonization strategies: global shift to green development
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/3466ee944ae94fefbcd30b22cb7d7d57
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Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development

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