Renewable Energy and Economic Performance in the Context of the European Green Deal

Energies

卷:13

Mihaela Simionescu¹  CarmenBeatrice Păuna²  Tiberiu Diaconescu² 

[1] Faculty of Management, University of Social Sciences, 9 Sienkiewicza St., 90-113 Łódź, Poland;

[2] Institute for Economic Forecasting, Romanian Academy, Calea 13 Septembrie 13, 050713 Bucharest, Romania;

关键词: renewable energy sources;    energy consumption;    GDP;    GCI;    scenarios;    panel data models;   

DOI  :  10.3390/en13236440

来源: DOAJ

【 摘 要 】

The European Green Deal considers the increase in the share of renewable energy in final energy consumption (REFEC) among the main targets for achieving sustainable EU economies. In this context, the main aim of this paper is to provide an empirical evaluation of the relationship between GDP, global competitiveness index (GCI) and renewable energy consumption. According to panel data models based on the fully modified ordinary least squares method (FMOLS), there is a positive effect of renewable energy consumption progress on GDP and GCI growth, and also a positive influence of economic growth on renewable energy consumption in the period 2007–2019 in the EU countries. The energy consumption is more influenced by economic growth rather than economic competitiveness. Few scenarios were proposed for economic growth and share of renewable sources (RESs) in the final consumption using as forecasting method the proposed panel data models. The cluster analysis suggested two groups of countries according to RES share in gross final energy consumption (GFEC). The first group includes six countries (Sweden, Denmark, Finland, Latvia, Portugal and Austria) that fixed a target of 30% or more, while the second one refers to countries with lower targets. Some policy recommendations are provided for the EU countries to enhance the utilization of renewable energy.

【 授权许可】

Unknown