Macroeconomic impact of renewable energy. A paradigm shift in energy sourcing and economic competitiveness.
Europe has undergone a significant transformation in its energy procurement strategy in recent years, reshaping the landscape of economic stability and competitiveness. Europe was running a substantial portion of their energy procurement based on oil and gas from third countries, however the ever-growing international instability has prompted a strategic shift towards more national and sustainable energy solutions. A move catalyzed by the developments in renewable energy technologies, increasing output and number of installations. The benefits are: more stable energy supply for other industries; the development of technology suppliers for wind turbines, solar panels and structures; and a future export of energy generation expertise as the rest of the world follows. By geography: Norway, with its long time expertise in hydropower, has embraced its natural resources to become a European powerhouse in renewable energy. With hydro production above the country's own c...