COMPARATIVE ANALYSIS OF COST AND BENEFITS BETWEEN RENEWABLE AND NON-RENEWABLE ENERGY PROJECTS: CAPITALIZING ENGINEERING MANAGEMENT FOR STRATEGIC OPTIMIZATION

Abstract

This study presents a comprehensive comparative analysis of renewable and non-renewable energy projects, focusing on their economic, environmental, and operational dimensions. Through a mixed-method approach, including in-depth interviews with industry experts and policymakers, the research highlights the distinct challenges and benefits associated with each energy source. The findings reveal that while renewable energy projects require higher initial capital investments, they offer substantial long-term advantages, including significantly reduced operational costs and lower environmental impacts, making them increasingly attractive in the face of advancing technologies and growing regulatory pressures. In contrast, non-renewable energy projects, although benefiting from established infrastructure and lower upfront costs, are burdened by rising fuel prices, operational inefficiencies, and environmental liabilities. The study underscores the critical role of engineering management in optimizing project outcomes, demonstrating that innovative and adaptive management practices are essential for maximizing the value and sustainability of energy investments. These insights provide valuable guidance for policymakers, industry stakeholders, and investors as they make strategic decisions in an increasingly complex and shifting global energy landscape.