can the stock market success of montreal s ipos be predicted by the prospectus content in this paper we investigated if it is possible for investors to objectively estimate the probability of success of newly public companies using the information contained in offering prospectuses analysing prospectuses of small firms that went public on the montreal stock exchange revealed that the age of the firm at the time of the ipo the percentage of voting rights sold by managers the sales growth potential and the subscription price of newly quoted firms could be good predictors of long term performance on the stock market however it is relatively difficult to link any information contained in the issuing prospectus to short term performance the findings of this study should help authorities to define more stringent criteria to accept new public offerings and make the small cap market more attractive to investors and new growing companies

renewable energy investment and job creation a cross sectoral assessment for the czech republic with reference to eu benchmarks the development of renewable energy sources has been primarily justified on the ground of environmental policies and energy security but new jobs opportunities and establishment of new economy sectors may be equally important co benefits from investments in this sector the main goal of this paper is to assess the employment benefits of investments in renewable energy in the czech republic we examine the level and rate of the development of the renewable energy sector in the czech republic in terms of green job creation for the period 2008 2013 in comparison to data from other eu countries including germany as a leading early investor in renewables whilst the deployment of renewable energy in the czech republic has succeeded to create a significant number of jobs more than 20 000 employees in 2010 our analysis illustrates a strong dependency of job creation on the continuation of financial incentives we also find that biomass and waste energy processing offer the highest employment per mwh which benefits employment in economically fragile rural areas we discuss the question of competitiveness of a country that was not amongst the early adopters of renewables arguing that the technical skills of the labour force in the czech republic provide a potential for more sustained investments in the sector

the long term effect of renewable electricity on employment in the united kingdom abstract assessment of the employment impact of renewable electricity technologies is generally implemented through either complex and data intensive methods such as computable general equilibrium models or simplistic approaches normally focused on specific energy generation technologies such as employment factors in contrast this article proposes a transparent and easily reproducible econometric methodology based on the vector error correction model that uses aggregated and widely available data the model is applied to the power generation sector in the united kingdom using annual data from 1990 onwards and provides evidence that the long term employment impact of renewable technologies is much higher than the impact arising from deploying nuclear or natural gas technologies the impulse response function analysis indicates that a permanent 1 gigawatt hours increase in annual electricity supply generated by renewable technologies creates 3 5 jobs in the long term period finally this study derives the implications of the findings in the context of decarbonisation scenarios for the power sector in the united kingdom and assesses the extent to which decarbonisation pathways based on renewable electricity contribute to stimulating employment in the generation sector

employment factors for wind and solar energy technologies a literature review abstract in this paper we present an up to date literature review on employment opportunities associated with the deployment of renewable energy technology we identified approximately 70 studies and data sources published over the past decade that report analysed or observed employment impacts of renewable energy growth these publications cover many different countries and several technology options and present widely varying results derived from distinct methodological approaches our first overall conclusion is that there is clear lack of authenticity of findings in this literature since recursive referencing abounds and relatively few studies yield truly original research when we omit non authentic analyses as well as those that aggregate results in a way that does not allow us to calculate employment factors defined as the number of jobs or amount of work generated per unit of electricity production capacity the total list of references is brought to 31 independent items of these only 14 references provide separate estimates of the employment factors for the stages of manufacturing and installation respectively as opposed to employment factors for these two activities combined a total of 23 items provide values for operation and maintenance o m employment factors we observe significant uncertainties in quoted figures for job creation both across and within publications

assessing employment in renewable energy technologies a case study for wind power in brazil abstract environmental concerns and the search for climate change mitigation have led to the deployment of renewable energy technologies ret in several countries the adoption of incentive policies especially those based on heavy subsides has motivated the discussion of social and economic benefits brought about by these technologies mainly on the impact on employment rates in this context several studies have been conducted to quantify job creation by ret concluding that the latter are more labor intensive than traditional fossil fueled technologies however results for different assessments vary largely due to distinct methodological approaches and are frequently highly aggregated thus results are not comparable or applicable to other contexts previous studies have failed to quantify the effects of imports and exports of ret equipment in total employment usually associating employment and installed capacity in the year studied this study has aimed to address these issues creating an index for employment quantification based on production instead of installed capacity we have estimated both direct jobs in manufacture construction and operation and management and indirect jobs both in the upstream supply chains of materials and inputs to manufacture of wind turbines and construction of wind farms we have also performed an assessment of jobs created in wind energy projects which are expected to begin operation in brazil until 2017 the resulting job potential in brazil corresponds to13 5 persons year equivalent for each mw installed between manufacture and first year of operation of a wind power plant and 24 5 persons year equivalent over the wind farm lifetime results show that major contribution from wind power for job creation are in the construction stage and despite of the low amount of jobs created in operation and maintenance relative to new installed capacity those stable jobs stand out as they persist over the entire wind farm s life time

macroeconomic impact of the german energy transition and its distribution by sectors and regions abstract macroeconomic impacts such as changes in economic structures and employment are very important when evaluating the energy transition in societal terms we employ a macroeconomic model that accounts for regional economic and sectoral features the model results show how the overall positive net impacts of the energy transition in germany energy efficiency and renewable energies on economic growth and employment up to 2030 are distributed across sectors and regions the biggest relative increases in value added occur in construction real estate and electricity generation the biggest decrease is in mining of lignite significant effects mainly result from changes in the heat and transport sectors while the transition in the electricity sector entails smaller impacts the latter are however relevant to the regional distribution the model results suggest that especially northern and eastern german federal states will benefit economically from the energy transition because they offer attractive locations for investments at the same time these states are less affected by decreasing conventional energy generation moreover the impact of rising electricity prices is less negative here than in the other federal states because of their lower electricity intensity in production in summary the energy transition represents an opportunity for these regions to strengthen their economies

a comprehensive ex post assessment of res deployment in italy jobs value added and import leakages abstract taking a retrospective look at italy s experience over the period 2006 2014 this paper investigates to what extent the deployment of renewable energy sources res contributed to value added and employment in the economy from the methodological point of view our study combines an input output approach with a comprehensive bottom up analytical model in which detailed product information from external trade statistics is used to account for imports although during the period under consideration italy experienced an expansion in res capacity that went beyond the rosiest expectations it appears that the resulting demand for plant components was met to a very significant extent by imports we find that the contribution to sectoral value added and employment was not as large as envisioned by ex ante analyses in net terms the resources absorbed by res plants in the construction installation and manufacturing phase seem to have made a smaller contribution to the domestic economy than they would have in several counterfactual scenarios the opposite is true for the resources used in the subsequent operation and management phase finally our results suggest that variation in domestic content of manufactured products may limit the portability of res employment and value added factor estimates across countries

regional employment and economic growth effects of south africa s transition to low carbon energy supply mix abstract this paper examines the long run regional economic effects within south africa of changing the electricity generation mix towards less coal to do so a regional computable general equilibrium cge model of south africa is employed for the analysis the overall result stemmed from all scenarios suggest that the effect of a transition to an energy supply mix with smaller share of coal generation is sensitive to other economic and policy conditions in particular the reaction of the global coal market and hence south africa s coal exports under conditions in which surplus coal resulting from lower domestic demand cannot be readily exported the economies of coal producing regions in south africa such as the mpumalanga province are the most severely affected the subsequent migration of semi skilled labour from that province to others within the country require appropriate and timeous planning by energy policymakers and urban planners

an examination of the influence of industry structure on eight alternative measures of new venture performance for high potential independent new ventures abstract this study examined the influence of the structure of new ventures entered industries on eight alternative measures of new venture performance for 199 high potential independent new ventures each of the 199 entrepreneurial ventures had undertaken an initial public offering ipo within the first 6 years of the venture s founding date and were free of corporate sponsorship or prior corporate parentage specifically this research examined the influence of 1 stage of the life cycle 2 industry concentration 3 entry barriers and 4 product differentiation on eight alternative measures of new venture performance the eight measures of new venture performance examined in this research consisted of 1 change in sales 2 sales level 3 net profit 4 earnings before interest and taxes 5 return on sales 6 return on assets 7 return on invested capital and 8 return on equity most prior research examining the influence of industry structure on new venture performance has 1 utilized only one or two measures of new venture performance as indicators of the venture s overall effectiveness and efficiency 2 often failed to provide theoretical justification for the measure s of new venture performance or industry structure examined and 3 utilized data derived from questionnaires and or the pims data base of corporate sponsored new ventures in addition prior industry structure studies examining independent new ventures have often utilized relatively small sample sizes this study sought to advance the progress in the field of entrepreneurship with regard to understanding the influence of the structure of new ventures entered industries on new venture performance by 1 examining eight alternative measures of new venture performance 2 providing theoretical justification for the measures of new venture performance and industry structure examined and 3 utilizing the largest nonquestionnaire data base of independent new ventures developed to date this research found that the stage of the life cycle of the venture s entered industry was the most important determinant of new venture performance among the four industry structural elements examined stage of the life cycle had a statistically significant relationship at a 0 05 level with the majority of the new venture performance measures examined in this research in addition ventures entering industries in the introductory stage of the life cycle achieved the highest levels of venture performance particularly when compared with those ventures that entered industries in the mature stage of the life cycle however this study did not find a statistically significant relationship between stage of the life cycle and change in sales this suggests that there is a trade off between profitability and sales growth and that new ventures that undertake an ipo have a stronger focus on achieving profitable operations rather than sales growth during the initial years after their ipo this may be due to pressures placed on the new ventures to achieve profitability by the external credit market conversely this research found that 1 industry concentration 2 entry barriers and 3 product differentiation did not have statistically significant relationships at a 0 10 level with any of the eight alternative measures of new venture performance examined in this research however this research did find that over 90 of the new ventures entered industries characterized by 1 a low degree of industry concentration and 2 a high degree of product differentiation the relative absence of new venture entry into industries characterized by 1 high degrees of concentration and 2 low degrees of product differentiation provides support for prior theory which suggests that successful entry into such industry environments may be substantially more difficult in sum the results of this research suggest that high potential independent new ventures that undertake an ipo should enter industries in the introductory stage of the life cycle in addition the results of this research suggest that industries characterized by 1 relatively low degrees of industry concentration and 2 highly heterogenous products may be necessary but not sufficient conditions for successful entry by high potential independent new ventures seeking to raise equity capital through an ipo

small firm growth access to capital markets and financial structure review of issues and an empirical investigation this article investigates the financial structure of small firms with an emphasis on growth and access to capital markets neo classical economic life cycle pecking order and agency theory perspectives are reviewed in order to formulate testable propositions concerning levels of long term short term and total debt and liquidity up to date financial data were collected from the u k private database for a large sample comprising of both listed and unlisted small firms regression results indicate significant relationships between financial structure and profitability asset structure size age and stock market flotation but not growth except when rapid and combined with lack of stock market flotation analysis of stock market flotation as an interactive dummy reveals major differences between listed and unlisted small firms the results indicate that the variety of financial structures observed in practice may reflect rational trade offs of various costs on the part of small firm owner managers but that the over reliance on internally available funds and the importance of collateral in the case of unlisted small firms are likely to be major constraints on economic growth

the impact of clean energy investments on the greek economy an input output analysis 2010 2020 the aim of this paper is twofold first to calculate the green energy investments by industrial sector that greece would need in order to satisfy a number of energy and environmental targets adopted in the context of the european commission s energy and climate change package and second to calculate the macro economic impacts of these green investments on production and employment in the greek economy to this end the input output analysis has been exploited for estimating the direct indirect and induced macroeconomic effects associated with the implementation of selected energy conservation measures the promotion of renewable energy technologies etc our findings show that the required investments would reach the amount of 47 9 billion over the period 2010 2020 these investments will result in an average annual increase of the national product by 9 4 billion creating simultaneously 108 000 full time equivalent jobs for the entire period under consideration the employment generated per 1 million investment is relatively higher in energy saving projects in buildings and transport in comparison with the development of res in power generation sector

employment impacts of solar energy in turkey abstract solar energy is considered a key source for the future not only for turkey also for all of the world therefore the development and usage of solar energy technologies are increasingly becoming vital for sustainable economic development the main objective of this study is investigating the employment effects of solar energy industry in turkey some independent reports and studies which analyze the economic and employment impacts of solar energy industry in the world have been reviewed a wide range of methods have been used in those studies in order to calculate and to predict the employment effects using the capacity targets of the photovoltaic pv and concentrated solar power csp plants in the solar roadmap of turkey the prediction of the direct and indirect employment impacts to turkey s economy is possible as a result solar energy in turkey would be the primary source of energy demand and would have a big employment effects on the economics that can only be achieved with the support of governmental feed in tariff policies of solar energy and by increasing research development funds

forecasting job creation from renewable energy deployment through a value chain approach abstract this paper introduces a new approach to the study of the socioeconomic impact of renewable technologies through the analysis of the reinforcing effects of the expansion of this industry and the specific characteristics of the employment along the value chain the method proposed is based on the collection critical analysis and presentation of the results obtained using primary information sources the model design includes contributions extracted from a prior analysis of the existing assessment methods to lessen the uncertainty of the job ratios often used in these types of analysis one factor to be taken into account is the high degree of development in the sector and above all the maturity of the technology considered from the point of view of the industry fabric the economy of scale and technological development actually influences the human resources needs sometimes increasing the demand for professionals within the scope of r d and sometimes reducing jobs in the manufacturing industry which is gradually applying processes with a greater degree of automation the influence of these experience curves is different for every single stage of the value chain trade balance of technologies is also crucial for local employment generation an analytical model was developed based on the above assumptions and applied to the spanish pv industry this industry has been playing a leading role in the expansion of renewable energy and offers a high potential towards the short term development of the smart grids in this country this model represents very well the history of the spanish pv industry reflected through the evolution of the jobs and is shown to be the foundation of a methodology for prospective studies in the social and economic impacts of renewables

employment creation potential of renewable power generation technologies a life cycle approach abstract the present study analyses the employment characteristics of nine different renewable power generation technologies two types of solar photovoltaic wind small scale hydro geothermal wood biomass and three types of biogas the analysis uses a renewable energy focused input output model that the authors developed to analyse life cycle environmental and socio economic impacts of renewable power generation technologies and policies the analysis reveals that there are distinctive differences among the nine technologies impacts on employment the total employment creation potential over the life cycle is estimated to be in the range of 1 04 5 04 person years per gwh furthermore the nine technologies have unique features regarding how many and what kinds of jobs are created across the whole life cycle the introduction of these technologies into an economy directly and indirectly induces jobs in different industrial sectors reflecting their technological characteristics on the other hand the nine different technologies have a common employment effect in that they create relatively high employment opportunities in the service sectors such as wholesale trade non life insurance and judicial financial and accounting services the present study reveals quantitative employment characteristics of the different types of renewable power generation technology to provide valuable information for renewable energy policy making

the rise and fall of the amex emerging company marketplace abstract in 1992 the amex launched the emerging company marketplace ecm to trade the stocks of small but growing companies bid ask spreads decreased dramatically for listing firms and news coverage increased executives of listing firms were quite satisfied yet few firms chose to list on the ecm and it closed in 1995 what went wrong most amex stakeholders had little to gain from the success of the ecm and a series of scandals damaged the reputation of the exchange similar small firm markets have also failed largely because successful firms quickly depart for traditional markets leaving only unsuccessful firms behind

united states investment returns during democratic and republican administrations 1928 1993 a major difference in returns from large capitalization stocks small capitalization stocks various bond indexes and cash followed elections won by democratic and republican presidents from 1928 to 1993 small cap stocks had significantly higher returns during democratic administrations than during republican administrations primarily reflecting a lack of losses in the april december period this phenomenon was not a manifestation of the january small firm effect indeed the results indicate a significant small cap effect outside january during democratic presidencies large cap stocks had statistically identical returns under both administrations for both democratic and republican administrations small and large cap stock returns were significantly higher during the last two years of the presidential term than during the first two years corporate long term government and intermediate government bonds and cash had significantly higher returns during republican administrations from 1937 to 1993

the challenges of determining the employment effects of renewable energy abstract the benefits of promoting renewable energy are regularly claimed to be energy security climate change mitigation and job creation while the first two benefits are generally accepted the impact of renewable energy on employment is still disputed this paper presents a discussion of the various factors that influence the analysis of renewable energy and its impact on employment the advantages and disadvantages of input output methods and analysis methods are discussed as well as the issues surrounding the measurement of job creation a critical evaluation of the literature reveals factors that should be considered when completing a study about renewable energy and employment labour intensity of renewables cost increases and availability of investments counting job losses job quality and skills model assumptions and sources of information analytical studies using extensive surveys were found to be more appropriate for regional studies while input output methods were better suited to national and international studies

corporate governance effects on innovation when both agency costs and asset specificity matter this article explores the question whether the relationship between corporate governance and innovation is affected by the extent to which the firm is exposed to agency problems and asset specificity issues in particular we argue that different combinations of asset specificity and agency costs are associated to firm age and sector of activity and predict heterogenous effects of ownership concentration on innovation across different types of firms we use a unique data set of about 35 000 italian manufacturing corporations over the 2002 2007 period and run a hurdle model distinguishing four subgroups of firms on the basis of their age greater or lower than 15 years and of whether they belong to a high technology or low technology sector we find that the effects of ownership concentration on innovation are coherent with the predictions of so called shareholder theory when agency cost effects dominate over asset specificity effects and that they are coherent with the predictions of so called stakeholder theory when asset specificity effects dominate over agency cost effects these findings are robust to a number of identification issues including the possible endogeneity of corporate ownership structures our results may allow to make sense of the contradictory findings of the literature on corporate governance and innovation especially as regards the role played by ownership concentration and may help policymakers to define more effective type specific initiatives to stimulate firm innovation

the aftermarket performance of small firm initial public offerings abstract the dream of many entrepreneurs is to some day take his or her growing small firm public and to thereby become the ceo of a publicly traded corporation currently entrepreneurs are continuing to utilize initial public offerings ipos as a viable source of venture financing ipos also represent a viable mechanism for harvesting venture capital and entrepreneurial investments the touted entrepreneurial benefits of taking a company public include the abilities to borrow additional funds return to the public equity market negotiate mergers without depleting cash the potential for enhanced personal wealth and so forth investors in small firm public equity issues are often motivated by the potential for discovering another apple computer or perhaps an ibm at the ground floor this study empirically examines the aftermarket returns of small publicly held firms that have issued initial public offerings aftermarket returns refers to stock returns immediately after a stock begins trading the study specifically examines two questions first is there a positive risk return relationship for small firm aftermarket returns where higher firm risk will generate higher aftermarket return second will aftermarket returns show on industry effect where certain industries will automatically generate higher returns answers to these questions will affect the strategic financial alternatives available to entrepreneurs both before and after going public and will also affect the decisions of investors interested in financing small public corporations the research findings indicate that entrepreneurs planning to take younger firms public will probably not have available to them numerous subsequent financial alternatives utilizing corporate stock if the true aftermarket performance of their stock is taken into consideration likewise investors in small firm public issues may also be disappointed in the aftermarket performance of younger firms a positive risk return relationship where age was a proxy measure of risk did not exist this was true even though the initially quoted returns of these same younger firms may have been substantial on the other hand the aftermarket performance of older firms is typically favorable finally the study suggests that neither entrepreneurs nor investors should bet solely on a particular industry categorization to carry their aftermarket stock performance while certain industries indicated significant positive initial returns aftermarket returns based on industry classification were generally not statistically significant investors should therefore always exercise firmspecific due diligence and research before investing in small firm public equity issues since the variance of their aftermarket market returns tends to be large

the expansion of renewable energies and employment effects in germany the promotion of electricity produced from renewable energy is a high priority of the european union as well of its member states the german government wants to increase the share of renewable energies from about 5 to 12 by 2010 to attain this goal the german government has introduced compulsory compensation schemes for electricity produced from renewable energy fed into the public grid this paper examines the economic impact of this policy employing an econometric model particular emphasis was given to employment effects in general we distinguish two effects 1 an expansive effect resulting from additional investments and 2 a contractive effect resulting from an increase in the production cost of power the first effect will dominate during the first years and lead to an increase in employment of approximately 33 000 new jobs however the contractive effect will offset these gains and lead to a slightly negative employment balance by 2010

how shifting investment towards low carbon sectors impacts employment three determinants under scrutiny abstract the threat of climate change requires redirecting investment towards low carbon sectors and this shift generates heated debates about its impact on employment many studies exist most of which use cge or input output io models however the economic mechanisms at play remain unclear this paper disentangles the channels of job creation and studies to what extent the results of simpler io models diverge from cge results using stylized models we show that a shift in investment creates jobs in io if it promotes sectors with a higher share of labour in value added lower wages or a lower import rate in cge the first two channels also yield job creation but there is no positive impact of targeting low imports sectors unless these do not export then we undertake a numerical analysis of two policies the installation of solar panels and weatherization in france both policies have a positive effect on employment in both models due to the high share of labour and low wages in these sectors io results provide a good approximation of cge results for solar 14 to 34 and are slightly higher for weatherization 22 to 87 our findings challenge the idea that renewables boost employment by reducing imports but they also suggest that a double dividend can be achieved by encouraging low carbon labour intensive sectors

potential for renewable energy jobs in the middle east abstract based on employment factors derived from a recent review of publications investigating opportunities for work associated with the diffusion of renewable energy technology we here present an analysis of the potential for renewable energy jobs in the middle east we use energy system optimisation results from the regionally disaggregated tiam ecn model as input to our study this integrated assessment model is utilised to inspect the energy technology requirements for meeting a stringent global climate policy that achieves a stabilisation of greenhouse gas concentrations in the atmosphere with a maximum additional radiative forcing of 2 9 w m 2 this climate control target implies a massive deployment of renewable energy in the middle east with wind and solar power accounting for approximately 60 of total electricity supply in 2050 900 twh of an overall level of 1525 twh would be generated from 210 gw of installed renewable energy capacity by the middle of the century for this pervasive renewables diffusion scenario for the middle east we estimate a total required local work force of ultimately about 155 000 direct and 115 000 indirect jobs based on assumptions regarding which components of the respective wind and solar energy technologies can be manufactured in the region itself all jobs generated through installation and o m activities are assumed to be domestic

renewable energy and employment in germany abstract the positive impacts of an increasing share of renewable energy on the mitigation of climate change as well as on the decrease of the dependency of energy imports are indisputable however one persistent problem for the german economy has been its high level of unemployment in the recent past therefore any policy strategy will be measured also by its net impact on the labor market the paper describes the results of a study that models this impact and is novel within three respects firstly an input output vector for the renewable energy sector was developed based on the results of more than 1000 interviews with an extensive questionnaire secondly gross and net effect of two different policy scenarios for germany until 2030 were calculated and thirdly the approach varies from earlier studies by its explicit modeling of export and foreign trade effects

the exploitation of electricity production projects from renewable energy sources for the social and economic development of remote communities the case of greece an example to avoid abstract since 2009 an anarchic policy has been followed by the investors regarding the submission of a large number of applications in greece for the construction of electricity production projects from renewable energy sources r e s applications and licenses without any strategic design usually of extremely large size in relatively small insular territories often violating several environmental or cultural constraints defined in the relevant legislation applications and licenses that have been submitted without informing the local communities neglecting the existing industrial agricultural or domestic activities the land properties and consequently provoking the common sense and reverting the generally positive common attribute about r e s recorded in greece before 2008 these applications and licenses exhibit low maturity characterized by violation of environmental constraints disapproval of local communities inadequacy to procure the required land properties and lack of r e s potential measurements ultimately they exhibit very low probabilities to be implemented furthermore all these premature applications cover large geographical territories preventing thus other mature and more realistic r e s projects from applying for licensing consequently the existing applications and licenses instead of promoting the r e s development in greece continue to keep it steady this article aims at the investigation of the causes that resulted in the above described negative reality potential deficiencies of the existing legislative framework are analyzed some characteristic examples of the submitted applications or issued licenses are presented and their technical and economic feasibility is evaluated finally the article proposes measures for the rational development of r e s electricity production projects in greece these measures aim to combine the maximization of the r e s development with the protection of the local communities furthermore they aim to support the participation of local investors and public organizations in the r e s projects this perspective will maximize the social and economic benefits to the local communities

small firm effect evidence from korean stock exchange the objective of the paper is to examine the small firm and earnings yield effects on the korean stock returns during 1982 1988 we find that smaller or high e p ratio firms obtain higher risk adjusted returns on average than larger or low e p ratio firms we also document that the existence of january effect in korean stock returns unlike the findings for the us market stock returns of small and as well as large korean firms are found to be 2 or 3 times higher in january than the other months however the well known tax loss selling hypothesis can not be used to explained these anomalies because there are no capital tax or loss offsets in korea

renewable energy deployment in europe up to 2030 and the aim of a triple dividend abstract renewable energy sources res play a key role in the european commission s 2030 climate and energy framework which aims for a low carbon economy that increases the security of the eu s energy supplies and creates new opportunities for growth and jobs among other benefits we assess whether renewable energy deployment in europe can provide this triple dividend at which ambition levels of 2030 res targets and what the role of the support policy scheme for electricity is we apply two types of models a detailed techno economic sector model of the deployment of res and two macroeconomic models our findings suggest that up to 2030 our triple dividend hypothesis holds even under a declining role of europe as technology provider for the rest of the world additional emission reductions of up to 1040 mt co 2 as compared to a baseline scenario in 2030 are possible demand for fossil fuels can likewise be reduced due to the deployment of renewable energy sources by up to 150 mtoe more ambiguous is the order of magnitude of the effects on gdp and employment which differs noticeably depending on the economic theory applied in the different models nevertheless both models predict slightly higher gdp and employment in 2030 when implementing ambitious res targets

quantification and monetization of employment benefits associated with renewable energy technologies in greece abstract this paper formulates and implements an integrated approach for estimating the employment benefits associated with the exploitation of renewable energy sources res in the power sector it builds up on well known techniques and makes all the necessary modifications in order to take into account the specific conditions of the res market more specific the proposed approach exploits the input output methodology for estimating the direct indirect and induced employment effects associated with the energy technologies in question and the opportunity cost of labour approach for expressing these effects in monetary terms this framework has been implemented to estimate the employment benefits resulting from the development of different res technologies in greece taking into account both the construction and operation phases of the relative projects the results of the analysis clearly show that the exploitation of res in the greek power sector presents significant employment benefits which are at the same order of magnitude or in several cases even higher compared to the corresponding benefits attributed to the operation of fossil fueled power plants e g lignite and natural gas therefore the fulfillment of the national target for increasing the penetration of res into the greek power sector from approximately 12 today to 40 in 2020 will contribute apart from the significant environmental improvements to the overall economic development and the increase of the employment