This research paper aims to analyze the global energy market in order to identify the conventional energy sources, the renewable energy source, and the nuclear energy as vehicles for economic development. This requires analyzing the investment capital versus the operation costs in each case.
Design/methodology/approach: The analysis of the data collected supported the choice of Egypt as a case study to represent the economic problem of its low production of electricity energy as compared to both developed countries in general and to other specific developing countries. The analysis represents the interaction between the need of Egypt to increase the production of electricity energy and the need to increase the gross domestic product (GDP) simultaneously.
Findings: The data collected at both the global level and at Egypt's level represented the various energy resources at a comparative level. The findings typified the need of Egypt to increase its production of electricity energy to match with its development requirements. This could never be done without the use of nuclear energy to produce electricity energy to serve the various Egyptian economic sectors.
Originality/value: The data collected were sorted and analyzed in a statistical manner to analyze the Egyptian requirement of energy in general and nuclear energy in specific for economic development.
Keywords: Economic Development, Gross domestic product (GDP), Cost of electricity, Environment, Levelized cost of electricity, Economic development, Investment capital, Operation costs, Net benefit, Economics of the power grid, Generation resources, Existing sources, New resources, Renewable resources.
Paper type: Research paper.