Factors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach

The paper aims to identify the most likely factors that determine the demand for energy consumption from renewable sources (renewable energy consumption—REC) in European countries. Although in Europe, a high environmental awareness is omnipresent, countries differ in scope and share of REC due to hi...

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Autores principales:	Atif Maqbool Khan, Jacek Kwiatkowski, Magdalena Osińska, Marcin Błażejowski
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	energy from renewable sources economic institutional and social factors Bayesian Average Classical Estimates (BACE) Paris Agreement Technology T
Acceso en línea:	https://doaj.org/article/b51675798b9943e9a7bc2be0ada97f3a
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spelling	oai:doaj.org-article:b51675798b9943e9a7bc2be0ada97f3a2021-11-25T17:26:18ZFactors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach10.3390/en142275261996-1073https://doaj.org/article/b51675798b9943e9a7bc2be0ada97f3a2021-11-01T00:00:00Zhttps://www.mdpi.com/1996-1073/14/22/7526https://doaj.org/toc/1996-1073The paper aims to identify the most likely factors that determine the demand for energy consumption from renewable sources (renewable energy consumption—REC) in European countries. Although in Europe, a high environmental awareness is omnipresent, countries differ in scope and share of REC due to historical energetic policies and dependencies, investments into renewable and traditional energetic sectors, R&D development, structural changes required by energetic policy change, and many other factors. The study refers to a set of macroeconomic, institutional, and social factors affecting energetic renewable policy and REC in selected European countries in two points of time: i.e., before and after the Paris Agreement. The Bayesian Average Classical Estimates (BACE) is applied to indicate the most likely factors affecting REC in 2015 and 2018. The comparison of the results reveals that the Gross Domestic Product (GDP) level, nuclear and hydro energy consumption were the determinants significant in both analyzed years. Furthermore, it became clear that in 2015, the REC depended strongly on the energy consumption structure, while in 2018, the foreign direct investment and trade openness played their role in increasing renewable energy consumption. The direction of changes is gradual and positive. It complies with the Sustainable Development Goals (SDGs).Atif Maqbool KhanJacek KwiatkowskiMagdalena OsińskaMarcin BłażejowskiMDPI AGarticleenergy from renewable sourceseconomicinstitutional and social factorsBayesian Average Classical Estimates (BACE)Paris AgreementTechnologyTENEnergies, Vol 14, Iss 7526, p 7526 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	energy from renewable sources economic institutional and social factors Bayesian Average Classical Estimates (BACE) Paris Agreement Technology T
spellingShingle	energy from renewable sources economic institutional and social factors Bayesian Average Classical Estimates (BACE) Paris Agreement Technology T Atif Maqbool Khan Jacek Kwiatkowski Magdalena Osińska Marcin Błażejowski Factors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach
description	The paper aims to identify the most likely factors that determine the demand for energy consumption from renewable sources (renewable energy consumption—REC) in European countries. Although in Europe, a high environmental awareness is omnipresent, countries differ in scope and share of REC due to historical energetic policies and dependencies, investments into renewable and traditional energetic sectors, R&D development, structural changes required by energetic policy change, and many other factors. The study refers to a set of macroeconomic, institutional, and social factors affecting energetic renewable policy and REC in selected European countries in two points of time: i.e., before and after the Paris Agreement. The Bayesian Average Classical Estimates (BACE) is applied to indicate the most likely factors affecting REC in 2015 and 2018. The comparison of the results reveals that the Gross Domestic Product (GDP) level, nuclear and hydro energy consumption were the determinants significant in both analyzed years. Furthermore, it became clear that in 2015, the REC depended strongly on the energy consumption structure, while in 2018, the foreign direct investment and trade openness played their role in increasing renewable energy consumption. The direction of changes is gradual and positive. It complies with the Sustainable Development Goals (SDGs).
format	article
author	Atif Maqbool Khan Jacek Kwiatkowski Magdalena Osińska Marcin Błażejowski
author_facet	Atif Maqbool Khan Jacek Kwiatkowski Magdalena Osińska Marcin Błażejowski
author_sort	Atif Maqbool Khan
title	Factors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach
title_short	Factors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach
title_full	Factors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach
title_fullStr	Factors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach
title_full_unstemmed	Factors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach
title_sort	factors of renewable energy consumption in the european countries—the bayesian averaging classical estimates approach
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/b51675798b9943e9a7bc2be0ada97f3a
work_keys_str_mv	AT atifmaqboolkhan factorsofrenewableenergyconsumptionintheeuropeancountriesthebayesianaveragingclassicalestimatesapproach AT jacekkwiatkowski factorsofrenewableenergyconsumptionintheeuropeancountriesthebayesianaveragingclassicalestimatesapproach AT magdalenaosinska factorsofrenewableenergyconsumptionintheeuropeancountriesthebayesianaveragingclassicalestimatesapproach AT marcinbłazejowski factorsofrenewableenergyconsumptionintheeuropeancountriesthebayesianaveragingclassicalestimatesapproach
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Factors of Renewable Energy Consumption in the European Countries—The Bayesian Averaging Classical Estimates Approach

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