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Innovative Development of Renewable Energy During the Crisis Period and Its Impact on the Environment

Author

Listed:
  • Nataliia Gavkalova

    (Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine)

  • Yuliia Lola

    (Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine)

  • Svitlana Prokopovych

    (Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine)

  • Oleksandr Akimov

    (Shupyk National Healthcare University of Ukraine, Kyiv, Ukraine)

  • Vainius Smalskys

    (Mykolas Romeris University, Vilnius, Lithuania)

  • Liudmyla Akimova

    (National University of Water and Environmental Engineering, Rivne, Ukraine)

Abstract

The article examines the innovative trends in the renewable power generation, taking into account the impact of crises, as well as the impact of renewable energy on air pollution in the world (environmental change). Hierarchical agglomerative and iterative methods of cluster analysis, as well as econometric models were used to test the hypotheses. Carbon dioxide emissions and renewable power generation for 78 countries during 2000-2020 are taken into account as the database of the study. The results showed that there are groups of countries with sharp, high, moderate and low growth rates of renewable power generation. In addition, the results of econometric analysis indicate that the growth of renewable power generation does not always cause a decrease in carbon dioxide emissions. For a number of countries (Australia, Canada, Mexico, Poland) such connection is not essential at all. The results of the study can be useful in shaping and adapting environmental strategies around the world.

Suggested Citation

  • Nataliia Gavkalova & Yuliia Lola & Svitlana Prokopovych & Oleksandr Akimov & Vainius Smalskys & Liudmyla Akimova, 2022. "Innovative Development of Renewable Energy During the Crisis Period and Its Impact on the Environment," Virtual Economics, The London Academy of Science and Business, vol. 5(1), pages 65-77, April.
    • Handle: RePEc:aid:journl:v:5:y:2022:i:1:p:65-77
    DOI: 10.34021/ve.2022.05.01(4)
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    References listed on IDEAS

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    Cited by:

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    6. Aleksy Kwilinski, 2024. "Mapping Global Research on Green Energy and Green Investment: A Comprehensive Bibliometric Study," Energies, MDPI, vol. 17(5), pages 1-24, February.

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