Relationship of renewable energy consumption to economic, environmental and institutional factors in Europe

Challenges caused by global climate change arise several environmental, social, and energy production issues. These problems firstly concern interest of resource extraction countries, triggering inter-fuel competition in both directions supply and consumption of energy resources. Moreover, significa...

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Autores principales:	I.V. Filimonova, V.Y. Nemov, A.V. Komarova, M.V. Mishenin, V.D. Kozhevin
Formato:	article
Lenguaje:	EN
Publicado:	Elsevier 2021
Materias:	Renewable energy consumption Oil prices Gas prices Coal prices Fossil resources Europe Electrical engineering. Electronics. Nuclear engineering TK1-9971
Acceso en línea:	https://doaj.org/article/cfc31af8cb374f81a820000d93e33383
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spelling	oai:doaj.org-article:cfc31af8cb374f81a820000d93e333832021-11-18T04:49:45ZRelationship of renewable energy consumption to economic, environmental and institutional factors in Europe2352-484710.1016/j.egyr.2021.07.115https://doaj.org/article/cfc31af8cb374f81a820000d93e333832021-11-01T00:00:00Zhttp://www.sciencedirect.com/science/article/pii/S2352484721005801https://doaj.org/toc/2352-4847Challenges caused by global climate change arise several environmental, social, and energy production issues. These problems firstly concern interest of resource extraction countries, triggering inter-fuel competition in both directions supply and consumption of energy resources. Moreover, significantly increased green agenda leads countries to foster shifting to green energy production and discovering factors of most influential on the acceleration of RES consumption. The paper focuses on the impact assessment of economic, environmental and institutional factors of the country development on the future consumption of renewable energy sources (RES). To achieve the purpose of the study a panel data analysis method was used. The analysis was conducted for 41 European countries for 1995–2018, with countries being divided into members of Organization for Economic Co-Operation and Development (OECD)/non-OECD and Extractive/non-Extractive. Four hypotheses were tested under the research: (1) Developing countries are characterized by the negative impact of CO2 emissions on RES consumption, while developed countries — the opposite; (2) Non-RES consumption reflects inter-fuel competition, expressed in a negative relationship with the RES; (3) Prices increase for non-RES contributes to growth of RES consumption; (4) Institutional factors reflect the level of ”market freedom and mobility” of the country and contribute to the development of RES. The authors confirmed all hypothesizes and showed that economic, particularly GDP, and institutional factors had the greatest impact on all countries’ RES consumption, while the environmental aspect is weakly significant for non-extractive countries. Consumption of fossil resources had a negative impact and confirmed the presence of inter-fuel competition.I.V. FilimonovaV.Y. NemovA.V. KomarovaM.V. MisheninV.D. KozhevinElsevierarticleRenewable energy consumptionOil pricesGas pricesCoal pricesFossil resourcesEuropeElectrical engineering. Electronics. Nuclear engineeringTK1-9971ENEnergy Reports, Vol 7, Iss , Pp 358-365 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Renewable energy consumption Oil prices Gas prices Coal prices Fossil resources Europe Electrical engineering. Electronics. Nuclear engineering TK1-9971
spellingShingle	Renewable energy consumption Oil prices Gas prices Coal prices Fossil resources Europe Electrical engineering. Electronics. Nuclear engineering TK1-9971 I.V. Filimonova V.Y. Nemov A.V. Komarova M.V. Mishenin V.D. Kozhevin Relationship of renewable energy consumption to economic, environmental and institutional factors in Europe
description	Challenges caused by global climate change arise several environmental, social, and energy production issues. These problems firstly concern interest of resource extraction countries, triggering inter-fuel competition in both directions supply and consumption of energy resources. Moreover, significantly increased green agenda leads countries to foster shifting to green energy production and discovering factors of most influential on the acceleration of RES consumption. The paper focuses on the impact assessment of economic, environmental and institutional factors of the country development on the future consumption of renewable energy sources (RES). To achieve the purpose of the study a panel data analysis method was used. The analysis was conducted for 41 European countries for 1995–2018, with countries being divided into members of Organization for Economic Co-Operation and Development (OECD)/non-OECD and Extractive/non-Extractive. Four hypotheses were tested under the research: (1) Developing countries are characterized by the negative impact of CO2 emissions on RES consumption, while developed countries — the opposite; (2) Non-RES consumption reflects inter-fuel competition, expressed in a negative relationship with the RES; (3) Prices increase for non-RES contributes to growth of RES consumption; (4) Institutional factors reflect the level of ”market freedom and mobility” of the country and contribute to the development of RES. The authors confirmed all hypothesizes and showed that economic, particularly GDP, and institutional factors had the greatest impact on all countries’ RES consumption, while the environmental aspect is weakly significant for non-extractive countries. Consumption of fossil resources had a negative impact and confirmed the presence of inter-fuel competition.
format	article
author	I.V. Filimonova V.Y. Nemov A.V. Komarova M.V. Mishenin V.D. Kozhevin
author_facet	I.V. Filimonova V.Y. Nemov A.V. Komarova M.V. Mishenin V.D. Kozhevin
author_sort	I.V. Filimonova
title	Relationship of renewable energy consumption to economic, environmental and institutional factors in Europe
title_short	Relationship of renewable energy consumption to economic, environmental and institutional factors in Europe
title_full	Relationship of renewable energy consumption to economic, environmental and institutional factors in Europe
title_fullStr	Relationship of renewable energy consumption to economic, environmental and institutional factors in Europe
title_full_unstemmed	Relationship of renewable energy consumption to economic, environmental and institutional factors in Europe
title_sort	relationship of renewable energy consumption to economic, environmental and institutional factors in europe
publisher	Elsevier
publishDate	2021
url	https://doaj.org/article/cfc31af8cb374f81a820000d93e33383
work_keys_str_mv	AT ivfilimonova relationshipofrenewableenergyconsumptiontoeconomicenvironmentalandinstitutionalfactorsineurope AT vynemov relationshipofrenewableenergyconsumptiontoeconomicenvironmentalandinstitutionalfactorsineurope AT avkomarova relationshipofrenewableenergyconsumptiontoeconomicenvironmentalandinstitutionalfactorsineurope AT mvmishenin relationshipofrenewableenergyconsumptiontoeconomicenvironmentalandinstitutionalfactorsineurope AT vdkozhevin relationshipofrenewableenergyconsumptiontoeconomicenvironmentalandinstitutionalfactorsineurope
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Relationship of renewable energy consumption to economic, environmental and institutional factors in Europe

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