Towards renewable electricity in Europe: Revisiting the determinants of renewable electricity in the European Union

Domhnaill, Ciarán Mac; Ryan, Lisa

doi:10.1016/j.renene.2020.03.084

Cited by 44 publications

(19 citation statements)

References 33 publications

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“…However, in the long-run, bidirectional causation between these variables was ascertained. In contrast, Mac Domhnaill and Ryan ( 2020 ) examined the effects of FDI inflows on the renewable electricity outputs in selected European economies and concluded that there is no significant effect. Based on the findings, it was asserted that FDI cannot facilitate a knowledge spillover effect on the European nations.…”

Section: Literature Reviewmentioning

confidence: 99%

Foreign Direct Investments, Renewable Electricity Output, and Ecological Footprints: Do Financial Globalization Facilitate Renewable Energy Transition and Environmental Welfare in Bangladesh?

Murshed

Elheddad

Ahmed

et al. 2021

Asia-Pac Financ Markets

100

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Phasing out fossil fuel dependency to adopt renewable energy technologies is pertinent for both ensuring energy security and for safeguarding the well-being of the environment. However, financial constraints often restrict the developing countries, in particular, from undergoing the renewable energy transition that is necessary for easing the environmental hardships. Against this background, this study makes a novel attempt to evaluate the impacts of FDI inflows on enhancing renewable energy use and attaining environmental sustainability in Bangladesh between 1972 and 2015. Using the autoregressive distributed lags with structural break approach to estimate the short- and long-run elasticities, it is found that FDI inflows enhance the share of renewable electricity output in the total electricity output levels of the country. Besides, FDI inflows are also evidenced to directly hamper environmental quality by boosting the ecological footprints figures of Bangladesh. Hence, it can be said that FDI promotes renewable electricity generation in Bangladesh but transforms the nation into a pollution haven. However, although FDI inflows cannot directly reduce the ecological footprints, a joint ecological footprint mitigation impact of FDI inflows and renewable electricity generation is evidenced. Besides, the findings also verify the authenticity of the Environmental Kuznets Curve hypothesis in Bangladesh’s context. Therefore, economic growth can be referred to as being both the cause and the panacea to the environmental problems faced by Bangladesh. These results, in a nutshell, calls for effective measures to be undertaken for attracting the relatively cleaner FDI in Bangladesh whereby the objectives of renewable energy transition and environmental sustainability can be achieved in tandem. In line with these findings, several appropriate financial globalization policies are recommended.

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Section: Literature Reviewmentioning

confidence: 99%

Foreign Direct Investments, Renewable Electricity Output, and Ecological Footprints: Do Financial Globalization Facilitate Renewable Energy Transition and Environmental Welfare in Bangladesh?

Murshed

Elheddad

Ahmed

et al. 2021

Asia-Pac Financ Markets

100

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“…Consequently, the consumption of renewable and non-renewable energy was included in the model, which are negatively and positively related to CO 2 emissions, respectively. In turn, the increase in the consumption of renewable energy in the European Union is positively associated with the implementation of food tariff policies and green certificates [71][72][73], as well as the interconnection to the electricity grid [74]. The relationship between the consumption of renewable energy and CO 2 emissions is consistent with that proposed by Yang [52] and Lise and Kruseman [54], who established that the energy obtained from renewable resources such as wind, sunlight, water resources (tides, rivers and waves), among others, do not emit CO 2 emissions.…”

Section: Resultsmentioning

confidence: 99%

The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution

et al. 2020

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From an empirical point of view, the liberalization of the internal energy market reduces carbon dioxide emissions, promoting a wider range of renewable energy sources. The aim of this paper is to examine the effect of the liberalization of the internal energy market on CO2 emissions, which was implemented in the European Union in 2011. The research data cover 27 countries of the European Union during the period 2004–2017 and was processed by estimating a two-way effects econometric model. The results suggest that the liberalization of the internal energy market is negatively related to CO2 emissions; the policy was effective in reducing CO2 emissions and, therefore, slowing down climate change. This result is significant at the level of the European Union, and in high-income countries since the year the policy was implemented, being different in the upper-middle-income countries, which begins to be effective after two years, which is due to the economic characteristics of the countries. The public policies to be implemented to reduce carbon dioxide emissions should focus on reducing the barriers imposed on foreign trade, which prevent efficient use of resources and providing financial and operating facilities to renewable energy providers in order to stimulate their production and consumption.

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“…This is similar to reporting findings for the US though CSP is very regional within the country (which also has several distinct electricity grids). We argue that this is appropriate given that the single market acts to homogenise the costs and tariffs across Europe and that there is a large policy drive to integrate electricity markets across Europe and enable them via long-distance transmission [27]. Additionally, we assume that future projects installed from 2020 to 2050 include thermal storage capacity.…”

Section: Datamentioning

confidence: 99%

A triple bottom line assessment of concentrated solar power generation in China and Europe 2020–2050

Menacho

Rodrigues²,

Behrens³

2022

Renewable and Sustainable Energy Reviews

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Towards renewable electricity in Europe: Revisiting the determinants of renewable electricity in the European Union

Cited by 44 publications

References 33 publications

Foreign Direct Investments, Renewable Electricity Output, and Ecological Footprints: Do Financial Globalization Facilitate Renewable Energy Transition and Environmental Welfare in Bangladesh?

Foreign Direct Investments, Renewable Electricity Output, and Ecological Footprints: Do Financial Globalization Facilitate Renewable Energy Transition and Environmental Welfare in Bangladesh?

The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution

A triple bottom line assessment of concentrated solar power generation in China and Europe 2020–2050

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