How can the growth of investments in renewable energy to achieve Dissertation

How can the growth of investments in renewable energy to achieve higher energy efficiency levels impact on world oil prices and - Dissertation Example Therefore, this study aims to determine whether or not the increased investment on renewable energy resources could literally affect the movements of the world market prices of oil. Likewise, this study will determine how massive investments made on the development of renewable energy resources can affect the economic growth of OECD countries. Research Method: A one-on-one personal interview with a couple of experts in finance and economics was conducted to know more about the impact of an increased investment in renewable energy on the world market prices of oil and the economic growth of OECD counties. Research Findings: Due to high market demand for oil, increasing the overall investment on renewable energy resources will not trigger the world market price of oil to decrease. Furthermore, the massive investment on renewable energy resources can somehow create a positive impact on the future economic growth of the OECD countries. However, serious considerations should be made befor e investing a large sum of money on a specific project. Conclusion: To increase the socio-economic benefits and return on investments (ROI) of renewable energy projects, this study concludes that strong support coming from the local people, the government, and the developers of renewable energy resources is essential. ... Table of Contents Acknowledgement ............................................................................................................... 2 Abstract ................................................................................................................................ 3 Table of Contents ................................................................................................................. 5 1. Introduction ............................................................................................................. 7 1.1 Purpose of the Study ................................................................................. 7 1.2 Research Objectives .................................................................................. 7 1.3 Research Questions ................................................................................... 8 1.4 Rationale for Selecting the Research Topic .............................................. 8 1.5 Scope and Limitations of the Study .......................................................... 9 2. Literature Review .................................................................................................... 10 2.1 Renewable Energy Resources ................................................................... 10 2.2 Types of Renewable Energy Resources Available in OECD Countries ....................................................................................... 11 2.3 Impact of Renewable Energy Investment on the Economic Growth of OECD Countries ............................................... 18 2.5 Impact of Renewable Energy Resources on Oil Prices ............................. 22 2.6 Reasons that Make it