Quantifying the Saved Social Costs of the Solar Energy Projects Funded by the EBRD in Egypt

Abstract

The world is changing into a village due to the common need to meet the population’s energy demands. Scholars link such transformation with energy’s relevance in meeting economic and social development and improving human welfare. This paper aims to evaluate the social cost savings of solar energy projects funded by the European Bank for Reconstruction and Development (EBRD) in Egypt. The paper provides an overview of the EBRD's involvement in promoting renewable energy in Egypt and its impact on the country's energy mix. The paper analyzes the three solar energy projects funded by the EBRD and their contribution to reducing carbon emissions and promoting sustainable development. Through calculating the avoided carbon dioxide (CO2) emissions and the saved social costs of these projects, the study concludes that the contribution of the EBRD is substantial, which highlights the importance of partnering in renewable energy to achieve sustainable development goals and mitigate climate change.

Keywords

• Renewable Energy
• Egypt
• EBRD
• Solar Energy
• Social Cost
• Carbon Dioxide