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Economic Aspects:
The economics behind the renewable energy transition are unlike most economic trends. Due to the lack of knowledge behind its impacts, we know little behind the long-term economics. We turn to givens, such as its impacts on GHG emissions as economic drivers. The economics behind renewable energy rely forecasts of the future to help determine efficient production, distribution, and consumption of energy. In this transition, there is in an increase in General Algebraic Modeling Software to help determine economic factors such as leveled production costs and cost models. The dependency  of knowledge of different types of models, innovations of other countries, and different types of renewable energy markets are the key to driving the economy during this transition.

Business Models:
Economic driving forces in the renewable energy transition take multiple approaches. Businesses that have joined the renewable energy cause do so by relying on business models. The need for business models, when dealing with the economics of the renewable energy transition, are crucial due to the lack of concrete research done in this area. These models show projections of marginal costs, efficiency, and demand in different periods of time. Business models are financial assistants that help guide businesses, companies, and individuals looking to get involved.

Global Rivalries:
Global rivalries have a contribution to the driving forces of the economics behind the renewable energy transition. Competition to reach ultimate efficiency with renewable energy is driving countries to compete with one another. Technological innovations developed within a country has the potential to become an economic force. In Germany, the country realized to achieve this, policy would go hand in hand with economics. Policies reflect the economy, which for the economy of the country, it would need to have strong policies in place to support the transition to renewable energy. With economic growth being a priority, renewable energy transition policies would strengthen the transition status. Renewable energy growth creates winners and losers. Fossil fuel companies risk becoming losers. To stay competitive the adaptation to join the renewable energy race is considered. Global investments on renewable energy is increasing at a high rate. In 2018, the total global investment in renewable energy neared the $300 billion mark. Trends in global renewable energy such as this, that show stability in the market, investments are being made profitable for the future. Competition for dominance in the renewable energy market sparks interest in trades and investments. With the United States and European Union accounting for 60 percent of the total capacity and investment in renewable energy, the two economies are likely to become the largest suppliers and consumers for the renewable energy services.

Heat & Biomass Heating:
In the renewable energy transition, the heating industry becomes an economic player. The heating industry is an interesting player as it entails many components. When dealing with heat and the transition to renewable resources, the entire area being heated comes into play. When assessing the economic benefits of this transition, the costs are atop of the list of information needed. In order to make this transition in the heating industry costs such as if the costs to install these systems would produce a positive turnout. A system of such was implemented in Denmark that focused on wind power to help contribute to heating. The results of this showed a decrease in heating costs from 132 kWH to roughly 60 to 80 kWH. The results draw economic improvements in this transition by showing more efficiency in the heating industry and an increased value in wind power.

Alternatives for heating use are being introduced. New Hampshire has been experimenting with wood energy. Wood energy is a form of biomass/renewable energy that uses various types of wood as energy alternatives. The burning of wood chips is amongst the most common types of wood energy used. Wood energy maintains an environmental balance of renewable energy while experiencing financial growth. CO2 emissions see decrease of nearly 90 percent when switching from fossil fuel to wood during the burning process. Transitioning from fossil fuel to wood energy is seen as an economic booster as the introduction of more wood energy plantations would mean greater production rates of wood biomass. Heating accounts for up to 40 percent of a businesses operating costs. Transitioning to wood energy, specifically the wood chip heating systems, do not come cheap. Littleton Regional healthcare transitioned to this heating system; the cost was nearly $3 million.

Energy Market:
The energy market, in relation the economics behind the renewable energy transition, is its insurance policy. In the past, inconsistencies in the renewable energy field had caused skepticism. The increase in returns in the market has changed that perception. Recently, the costs for these energies have been reduced dramatically. For solar and wind power, the costs have dropped up to 60 to 80 percent. Wind energy is growing in usage, and much of this is due to the increase in wind energy production. Transitioning to wind energy assists in altering a countries dependency on foreign sources when it comes to energy. Allowing countries to build their economies from within, while helping the environment is a more common thought. While a setback to this method of energy is that it requires specifics in land available and location of land, there has still been an increase in wind turbines. From 2007-2017, the US wind energy consumption increased 590%. The transition is viewed as a way to ensure the economies environmental sustainability.

Wind/Power Systems:
Power systems are economic players that take many contributors into account. When looking for economic benefits behind power systems, savings and costs are crucial topics being addressed. A determinant in addressing the costs and savings of power systems is the alternative routes to GHG emissions. Egypt introduced a plan to do so by stopping conventional power plants and converting them over to hybrid and wind farm plants. The results of this were seen to decrease carbon dioxide emissions and save the state up to $14 million dollars.

Determining the economic value of wind farms is the main predictor of production. The biggest cost occurred in wind farms are for the turbines themselves. With turbines varying in size, the smaller turbines are used at a more local and person level are more expensive on a per kilowatt of energy capacity rate, while larger ones are less expensive on these dynamics. Wind farms look at the total area of power it can produce, for a 500 MW wind farm, nearly 200,000 wind farms can be generated. Many question whether having a small number of turbines would still be beneficial or not, and worth the cost. The intermittency costs of turbines show that the are less than one percent of the price of the wind energy price. This is shown by detailing that the addition of more turbines throughout an area increase the intermittency of individual turbines, allowing the farms with a lower supply to gain by another farm with larger supply of turbines. Small residential and small commercial have the most profitability due to their low energy cost and short payback period. Specifically, this becomes more profitable with a 10 kW system.