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Title Determinants of Renewable Energy Development: Evidence from the EU Countries
Authors Tu, Y.-X.
Kubatko, Oleksandr Vasylovych  
Piven, Vladyslav Serhiiovych
Sotnyk, Iryna Mykolaivna  
Kurbatova, Tetiana Oleksandrivna  
ORCID http://orcid.org/0000-0001-6396-5772
http://orcid.org/0000-0001-5787-2481
http://orcid.org/0000-0001-6891-443X
Keywords renewable energy
determinants
drivers
factors
GDP per capita
unemployment
democracy
corruption
EU countries
Type Article
Date of Issue 2022
URI https://essuir.sumdu.edu.ua/handle/123456789/89720
Publisher MDPI
License Creative Commons Attribution 4.0 International License
Citation Tu, Y.-X.; Kubatko, O.; Piven, V.; Sotnyk, I.; Kurbatova, T. Determinants of Renewable Energy Development: Evidence from the EU Countries. Energies 2022, 15, 7093. https://doi.org/10.3390/en15197093
Abstract Sustainable development of the global economy can be achieved with the help of renewable energy (RE). The paper investigates the determinants of RE development in order to boost its adoption. The determinants of RE deployment were analyzed using random-effects GLS regression for the panel data from 27 EU member states in 2011–2020.The results confirm that economic development and high employment in advanced technology manufacturing are drivers of the RE sector, whereas unemployment growth affects RE deployment negatively. Our results show that active political participation and economic freedom promote RE; however, the level of corruption and democracy does not have a statistically significant impact on it. Favorable geographical location was proved to be a determinant of RE development. The hypothesis that plenty of natural resources discourage countries to develop RE was disproved. The major policy implications for RE promotion include the importance of economy deregulation, open market development and educational transformations. Following the results, prospects for further research were outlined.
Appears in Collections: Наукові видання (ННІ БіЕМ)

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