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Analysis on the Factors that Influence the Utilization Rate of Renewable Energy in the Framework of Marxist Reproduction
Abstract
Developing the renewable energy to replace traditional fossil energy is not only an essential part of sustainable development strategies of most countries all over the world, but also an important theoretical issue that draws the attention of the academic circle. On the basis of a Marxian reproduction scheme, the essay analyzes the influence of market demand, technological progress and policy promotion on the utilization rate of renewable energy and their mechanisms during the development of the renewable energy industry. A panel data set of 28 OECD countries for 34 years is constructed to examine the role of market, technology and policy on renewable energy's utilization rate. In addition, based on theoretical analysis and econometrical analysis, market, policy and technology—the three main factors will go through a thorough analysis.
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For the purpose of this article, this simple exploitation path is enough; using a more complicated path, for example, the classic Hotelling path, will not change the main conclusions. The key of our analysis is that fossil energy is non-renewable.
Since we have assumed that the total reserve of non-renewable energy is known at period 0, this assumption can be easily satisfied by changing the life span of fossil energy.
According to the assumption that the supply of fossil energy is “the gift of nature,” technical advance actually only happens in the renewable energy sector in this article.
Assume the final good as universal equivalent, whose value is equal to its price by definition. The price of energy good is defined as the exchange value of energy good in final good terms.
The seven richest countries are the Netherlands, Demark, Canada, Norway, Switzerland, United States and Luxembourg. The category of relatively rich countries includes Japan, France, Germany, Belgium, Australia, Austria and Sweden. Greece, Spain, Ireland, New Zealand, Finland, the United Kingdom and Italy belong to the category of relatively poor countries in OECD. The seven poorest countries are Portugal, Turkey, Poland, Korea, Slovakia, Hungary and the Czech Republic.