Background
Many countries,have installed renewable energy facilities as alternatives to fossil fuels. Shifting to renewable energy sources reduces carbon dioxide emissions and prevents the depletion of fossil fuels. Moreover, fossil fuels use is associated with conflicts and fluctuation of fuel prices. Renewable energy sources are preferred due to their environment friendliness in addition to earning support from social and economic viewpoints. While installing renewable energy facilities is essential for environmental conservation, it is also vital for most countries clean energy-related businesses and economy considering other indirect benefits. An input-output analysis of South Korea decision to progressively shift to renewable energy sources affirms that the clean energy sector could pose positive and negative economic shocks to other industries, with the effects rippling throughout the economy.
Research Question
What are the positive and negative shocks that would impact other industries after deploying a renewable energy sector in South Korea, and how would the effects ripple throughout the economy?
also am not very familiar with the (I_O) analysis, but I think it’s could be performed along with scenario-based exogenous method or RAS method, is that correct?
Sample Solution