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Comparison of Nuclear Energy and Renewable Energy Consumption in terms of Energy Efficiency: An Analysis on The EU Members and Candidates

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  • mer skendero lu

    (Department of Business, Faculty of Economics and Administrative Sciences, Ni de mer Halisdemir University, Turkey,)

  • Saffet Akda

    (Department of Banking and Finance, Faculty of Applied Sciences, Tarsus University, Turkey.)

Abstract

Energy efficiency is one of the main dynamics of sustainable development. As energy is used efficiently, the energy need for economic growth will be reduced, and the costs of energy sources will be reduced. In this context, nuclear and renewable energy are compared in terms of energy efficiency. The data of the energy efficiency index of 13 countries and the data on nuclear energy and renewable energy consumption over the years 1995-2016 and the DOLS and FMOLS tests are performed. As a result of the analysis, it is determined that there is a long-term relationship between the variables and that both energy sources have a positive effect on energy efficiency, but renewable energy is more advantageous than nuclear energy in terms of energy efficiency.

Suggested Citation

  • mer skendero lu & Saffet Akda, 2019. "Comparison of Nuclear Energy and Renewable Energy Consumption in terms of Energy Efficiency: An Analysis on The EU Members and Candidates," International Journal of Energy Economics and Policy, Econjournals, vol. 9(6), pages 193-198.
    • Handle: RePEc:eco:journ2:2019-06-24
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    References listed on IDEAS

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    2. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    3. Apergis, Nicholas & Payne, James E. & Menyah, Kojo & Wolde-Rufael, Yemane, 2010. "On the causal dynamics between emissions, nuclear energy, renewable energy, and economic growth," Ecological Economics, Elsevier, vol. 69(11), pages 2255-2260, September.
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    Cited by:

    1. Ivan Trifonov & Dmitry Trukhan & Yury Koshlich & Valeriy Prasolov & Beata Ślusarczyk, 2021. "Influence of the Share of Renewable Energy Sources on the Level of Energy Security in EECCA Countries," Energies, MDPI, vol. 14(4), pages 1-15, February.
    2. Sergey Kashurnikov & Valeriy Prasolov & Vladimir Gorbanyov & Rodion Rogulin, 2020. "Nuclear Power Production: The Future or the Past?," International Journal of Energy Economics and Policy, Econjournals, vol. 10(5), pages 131-141.
    3. Anna Komarnicka & Anna Murawska, 2021. "Comparison of Consumption and Renewable Sources of Energy in European Union Countries—Sectoral Indicators, Economic Conditions and Environmental Impacts," Energies, MDPI, vol. 14(12), pages 1-24, June.

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    More about this item

    Keywords

    Nuclear Energy; Renewable Energy; Energy efficiency; Cointegration;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting

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