Risk management in renewable energy production
2012
Rivza, S., Latvia Univ. of Agriculture, Jelgava (Latvia) | Rivza, P., Latvia Univ. of Agriculture, Jelgava (Latvia)
Even though the activities of an individual have always been subject to risks, the understanding of risk and its role in the society at the turn of the 20th and 21st century have become the issue of theoretical and practical importance and are closely connected with the ideas of two sociologists, U. Beck (1999) and A. Giddens (2002). The issue of risk management has not lost its topicality, therefore an increasing number of studies apply risk evaluation and risk management methods. A wider attention to the renewable energy production is drawn in the context of forecasted exhaustion of the fossil energy resources, the increase in their prices and energy dependence. Consequently, the scope of research in the field of renewable energy production has broadened. This paper summarizes the risk management studies in renewable energy production and proposes risk classification, risk management cycle and risk management options for the management of renewable energy production risks in Latvia.
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