Determinants of Renewable Energy Development: Evidence from the EU Countries

Tu, Yu-Xia; Kubatko, Oleksandr; Piven, Vladyslav; Kurbatova, Tetiana

doi:10.3390/en15197093

Cited by 43 publications

(17 citation statements)

References 48 publications

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“…The present study has both limitations and strengths. It did not assess significant variables like secondary income, economic growth 61 , energy use per capita 62 , political participation, and economic freedom 63 . Furthermore, this study relied on secondary data, making it difficult to establish a cause-and-effect relationship.…”

Section: Discussionmentioning

confidence: 99%

Determinants of household adoption of clean energy with its rural–urban disparities in Bangladesh

Haq,

Khan,

Chakma

et al. 2024

Sci Rep

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This study aims to investigate factors influencing the adoption of clean energy among households in Bangladesh, using Blinder-Oaxaca decomposition and extended probit regression model with data from the 2019 Bangladesh multiple indicator cluster survey. Small households, primarily Muslim and urban dwellers, who speak the Bengali language and are Internet and mobile users, were likelier to adopt cleaner fuels than their counterparts. On the contrary, households residing in the Barisal, Khulna, Rajshahi, and Rangpur divisions, belonging to poor and middle-class households, with household heads aged 15–64 and without formal education, were less likely to adopt cleaner fuels than their counterparts. The concentration curve revealed socioeconomic inequality in the adoption of clean energy, particularly favouring richer households in urban and rural areas. Further analysis using the Blinder-Oaxaca decomposition showed that urban residents showed a higher probability of adopting clean energy, with a significant difference of 0.508 compared to rural areas. Regarding the endowment effect, poor wealth quintile contributed the most, followed by the ownership of rented dwellings and the middle wealth quintile. The Bengali differential effect made the largest contribution to this aspect of the disparity, followed by the exposure of the Internet and the influence of the Dhaka and Chattogram divisions. The detailed analysis provides valuable insights for policymakers and practitioners on the issue of disparities in the adoption of clean energy between urban and rural areas in Bangladesh.

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Section: Discussionmentioning

confidence: 99%

Determinants of household adoption of clean energy with its rural–urban disparities in Bangladesh

Haq,

Khan,

Chakma

et al. 2024

Sci Rep

View full text Add to dashboard Cite

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“…Tu et al [19] undertook a study on 27 EU countries to discover the determinants of renewable energy supply. The study's results revealed that advanced technology, economic growth, political participation, and geographic location influence renewable energy supply.…”

Section: Determinants Of Renewable Energy Supplymentioning

confidence: 99%

The Impact of Financial Development and Economic Growth on Renewable Energy Supply in South Africa

Ngcobo,

De Wet

2024

Sustainability

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Eskom’s power plants in South Africa face frequent breakdowns due to a lack of maintenance and increasing energy demand. The high dependence of South Africa on coal for power generation, which is a resource that significantly contributes to carbon dioxide (CO2) emissions that impact the environment negatively, could be reduced by considering renewable energy sources. Renewable energy supply, dependent on private sector funding and economic growth, is seen as a solution to energy and environmental problems. The study aimed to examine if financial development and economic growth impact renewable energy supply in South Africa and to discover if co-integration exists between these variables, including the variables defined as the determinants of renewable energy supply, namely: CO2 emission by coal power generation; secondly, coal electricity supply; thirdly, coal price changes; and lastly, load shedding levels. The research gap identified for the study is twofold. Firstly, there is a lack of research on the relationship between renewable energy supply, financial development, and economic growth, specifically in South Africa. Furthermore, the existing research on these variables in other countries has produced inconclusive results. Secondly, minimal research has been conducted on how economic growth impacts renewable energy supply in emerging markets. Thus, the present study sought to bridge the gap and contribute to the scientific body of knowledge related to the drivers of renewable energy supply. The autoregression distributed lag (ARDL) model was employed to test if economic growth and financial development have a statistically significant impact on renewable energy supply, as well as to test the direction of the relationship, for an observation period from 1990 to 2021. The results proved that financial development and economic growth were reported to have a statistically significant positive impact on renewable energy supply in the long run and the short run. A study on the relationship between financial development, economic growth, and renewable energy supply in South Africa can influence policy reforms and assist the National Energy Regulator of South Africa (NERSA) and the government in developing and implementing renewable energy policies that encourage the deployment of renewable energy infrastructure to increase renewable energy supply, particularly regarding factors associated with addressing challenges in financial development and economic growth.

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“…In general, the study of various determinants of renewable energy development is principally for its qualitative analysis and forecasting [31]. Using the example of European countries, a group of scientists [32][33][34] studied the critical determinants of renewable energy and clean energy technologies as prospects for transforming the region's energy industry. The cumulative value of renewable energy for society as a whole is considered in work [35], and in work [36], a group of researchers focuses directly on the economic difficulties of Nigerians in solving energy supply issues.…”

Section: Literature Reviewmentioning

confidence: 99%

Carbon Dioxide, Nitrous Oxide, and Methane: What Types of Greenhouse Gases Are Most Affected by Green Investments and Renewable Energy Development?

Kwilinski,

Dobrovolska,

Wołowiec

et al. 2024

Energies

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The article aims to analyze the impact of green investments and the development of renewable energy on greenhouse gas emissions based on 223 countries in 2011–2021. The information base is the International Renewable Energy Agency, Our World in Data, Climate Policy Initiative, and FTSE Russell. Correlation analysis was used to check the data multicollinearity, multivariate regression analysis with stepwise variable entry—to formalize functional relationships. All variables characterizing the dynamics of green investments and the development of alternative energy, the number of annual investments in off-grid renewable energy has the largest impact on the amount of CO2 and N2O. Thus, an annual investment increase of USD 1 million leads to a CO2 emission increase of 4.5 kt and an N2O emission increase of 0.272 kt. Simultaneously, the green economy’s market capitalization level has the largest impact on the amount of CH4. In this case, a capitalization increases of USD 1 trillion leads to a CH4 emission increase of 129.53 kt. The dynamics of renewable energy development have a statistically significant effect on only one of the three studied greenhouse gases—CO2 emissions. Here, 1 MW growth of an absolute increase in off-grid renewable energy capacity leads to a 1171.17 kt reduction of CO2 emissions. Checking input data for lags confirmed a time lag of one year between the level of green investments and the level of greenhouse gas emissions. That is, the impact of green investments on the level of greenhouse gas emissions is delayed by one year. The results of regression models taking into account lags confirmed that an increase in the level of green investments has a positive effect on reducing the level of greenhouse gas emissions (an increase in off-grid renewable energy annual investments of USD 1 million leads to a decrease in CO2 of 1.18 kt and N2O of 1.102 kt; the increase in green economy market capitalization of USD 1 trillion leads to a decrease in CH4 emissions of 0.64 kt).

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Determinants of Renewable Energy Development: Evidence from the EU Countries

Cited by 43 publications

References 48 publications

Determinants of household adoption of clean energy with its rural–urban disparities in Bangladesh

Determinants of household adoption of clean energy with its rural–urban disparities in Bangladesh

The Impact of Financial Development and Economic Growth on Renewable Energy Supply in South Africa

Carbon Dioxide, Nitrous Oxide, and Methane: What Types of Greenhouse Gases Are Most Affected by Green Investments and Renewable Energy Development?

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