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Renewable resources are natural resources that can be replenished over time. Unlike non-renewable resources such as fossil fuels, renewable resources are sustainable and have minimal environmental impact. Examples include solar energy, wind energy, hydropower, biomass, and geothermal energy. In this section, we delve into the characteristics of renewable resources and their significance in addressing global energy needs.
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Renewable resource management hinges on economic principles, encompassing cost-benefit analysis, market dynamics, and policy interventions. Market dynamics of renewable energy, influenced by technological advancements and regulatory frameworks, dictate supply-demand trends, pricing fluctuations, and investment patterns. Environmental sustainability considerations are paramount, balancing resource benefits with impacts like land use and emissions.
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