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The Contribution of the New Energy Industry(NEI) to Economic Growth: Direct, Indirect, Environmental and Social Effect
- 1 Tianyi High school, Wuxi, 214000, China
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Abstract
This study investigates how the new energy industry (NEI) contributes to the economy's growth. As time went on, more and more countries gradually accepted the concept of new energy development. Evidence shows that NEI helps economic growth and indicates significant benefits including job creation, technological advancements, and enhanced productivity. Besides make direct contributions to the economic growth, the application of NEI also have some positive indirect effect on the economy. NEI increases long-term profits by reducing health care costs and environmental maintenance caused by pollution. However, current research reveals gaps, particularly in the long-term economic impacts of cleaner energy, regional disparities, and the integration of social well-being metrics. Future studies are proposed to address these gaps, including detailed analyses of the impacts on small and medium enterprises, comparative policy effectiveness, and the effects on rural and remote areas. By advancing research in these areas, policymakers and stakeholders can better understand and leverage the economic benefits of the NEI to support sustainable development and global financial stability.
Keywords
NEI, Environmental sustainability, Social sustainability, Employment, Social welfare
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Cite this article
Zhang,W. (2024). The Contribution of the New Energy Industry(NEI) to Economic Growth: Direct, Indirect, Environmental and Social Effect. Advances in Economics, Management and Political Sciences,123,7-12.
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Volume title: Proceedings of ICEMGD 2024 Workshop: Policies to Enhance Sustainable Development through the Green Economy
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