DEVELOPING THE ICELANDIC GENUINE PROGRESS INDICATOR – Accounting for the use of renewable energy sources when estimating Icelandic GPI
The Genuine Progress Indicator (GPI) is a tool for measuring the wellbeing of an economy. The question of how to include the use of renewable energy sources is important when estimating the GPI for an economy highly dependent on renewable energy like Iceland. An analysis of GPI estimations showed that the use of renewable energy sources is reflected by the subtraction of the use of non-renewable o