IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxviiy2024i3p350-364.html
   My bibliography  Save this article

Progress and Disparity: A Decade of Renewable Energy Development in Europe

Author

Listed:
  • Aleksander Wasiuta

Abstract

Purpose: This article investigates the economic environment for renewable energy development using the TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) method for ranking renewable energy projects in various countries. Design/Methodology/Approach: This work constructs a framework for economic landscape assessment by picking out diagnostic variables reflecting key variables driving renewable energy development, environmental tax revenues, import dependence, energy usage, and environmental impacts. The TOPSIS method allows a multidimensional analysis of renewable energy, enabling a hierarchy of countries based on synthetic indicators. Findings: The study covers all regions with available data for the selected years, relying on comprehensive and accessible variables essential for the analysis. Data describing the economic indicators relevant to renewable energy development in each region for 2012 and 2020, which were sourced from EUROSTAT, ensure a robust foundation for the analysis. Practical Implications: Findings will help policymakers, investors, and developers make sound choices to promote sustainable and renewable energy projects. Originality/Value: Since it is challenging to represent the potential for renewable energy development through a single characteristic, this study employs a multidimensional statistical analysis based on a TOPSIS synthetic index to quantify this potential.

Suggested Citation

  • Aleksander Wasiuta, 2024. "Progress and Disparity: A Decade of Renewable Energy Development in Europe," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 350-364.
    • Handle: RePEc:ers:journl:v:xxvii:y:2024:i:3:p:350-364
    as

    Download full text from publisher

    File URL: https://ersj.eu/journal/3439/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Diana-Mihaela Pociovalisteanu & Eleftherios Thalassinos & Aurelian Tirca & Walter Leal Filho, 2010. "Trends and challenges in the energy sector of Romania in the post-accession to the European Union," International Journal of Environmental Technology and Management, Inderscience Enterprises Ltd, vol. 12(1), pages 3-15.
    2. Nick Johnstone & Ivan Haščič & David Popp, 2010. "Renewable Energy Policies and Technological Innovation: Evidence Based on Patent Counts," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 45(1), pages 133-155, January.
    3. Jacobson, Mark Z. & Delucchi, Mark A. & Cameron, Mary A. & Mathiesen, Brian V., 2018. "Matching demand with supply at low cost in 139 countries among 20 world regions with 100% intermittent wind, water, and sunlight (WWS) for all purposes," Renewable Energy, Elsevier, vol. 123(C), pages 236-248.
    4. Eleftherios Thalassinos & Marta Kadłubek & Le Minh Thong & Tran Van Hiep & Erginbay Ugurlu, 2022. "Managerial Issues Regarding the Role of Natural Gas in the Transition of Energy and the Impact of Natural Gas Consumption on the GDP of Selected Countries," Resources, MDPI, vol. 11(5), pages 1-22, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rafal Czyzycki & Konrad Kochanski, 2023. "Regional Differences in Energy Policy Changes of EU Countries in 2012-2021," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 492-499.
    2. Katarzyna Boratynska, 2024. "The Economic and Financial Standing Assessment of Energy Sector Companies During the COVID-19 Pandemic," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 1248-1265.
    3. Aleksander Wasiuta, 2024. "Assessing Renewable Energy Development Potential in Polish Voivodeships: A Comparative Regional Analysis," Sustainability, MDPI, vol. 16(24), pages 1-20, December.
    4. Przemyslaw Drewnicki & Radoslaw Luft & Lukasz Wojtowicz, 2024. "Evolution and Impact of the European Union's Energy Policy: From Fossil Fuels to Renewable Energy and Greenhouse Gas Emissions Reduction," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 114-126.
    5. Zbigniew Golas, 2024. "Energy-Related Carbon Dioxide Emissions from Economic Growth in Poland: Decomposition and Decoupling Analysis," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 38-68.
    6. Agnieszka Budziewicz-Guźlecka & Kamila Schneider, 2023. "Restructuring Changes in the Energy Sector in the Context of the Green Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 916-923.
    7. Aleksander Iwaszczuk & Ivanna Zapukhliak & Natalia Iwaszczuk & Oleh Dzoba & Oleksandra Romashko & Nataliia Krykhivska, 2023. "Prospects for the Development of Photovoltaics in Ukraine," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 308-338.
    8. Christoph P. Kiefer & Pablo Del Río González & Javier Carrillo‐Hermosilla, 2019. "Drivers and barriers of eco‐innovation types for sustainable transitions: A quantitative perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 28(1), pages 155-172, January.
    9. Moritz Bohland & Sebastian Schwenen, 2020. "Technology Policy and Market Structure: Evidence from the Power Sector," Discussion Papers of DIW Berlin 1856, DIW Berlin, German Institute for Economic Research.
    10. Zhangsheng Liu & Liuqingqing Yang & Liqin Fan, 2021. "Induced Effect of Environmental Regulation on Green Innovation: Evidence from the Increasing-Block Pricing Scheme," IJERPH, MDPI, vol. 18(5), pages 1-15, March.
    11. Curci, Ylenia & Mongeau Ospina, Christian A., 2016. "Investigating biofuels through network analysis," Energy Policy, Elsevier, vol. 97(C), pages 60-72.
    12. Bongsuk Sung & Myoung Shik Choi & Woo-Yong Song, 2019. "Exploring the Effects of Government Policies on Economic Performance: Evidence Using Panel Data for Korean Renewable Energy Technology Firms," Sustainability, MDPI, vol. 11(8), pages 1-19, April.
    13. Orsatti, Gianluca & Pezzoni, Michele & Quatraro, Francesco, 2017. "Where Do Green Technologies Come From? Inventor Teams’ Recombinant Capabilities and the Creation of New Knowledge," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201711, University of Turin.
    14. Xu, Qi & Liu, Kui, 2024. "Hero or Devil: A comparison of different carbon tax policies for China," Energy, Elsevier, vol. 306(C).
    15. Yu-Hong Ai & Di-Yun Peng & Huan-Huan Xiong, 2021. "Impact of Environmental Regulation Intensity on Green Technology Innovation: From the Perspective of Political and Business Connections," Sustainability, MDPI, vol. 13(9), pages 1-23, April.
    16. Durán-Romero, Gemma & López, Ana M. & Beliaeva, Tatiana & Ferasso, Marcos & Garonne, Christophe & Jones, Paul, 2020. "Bridging the gap between circular economy and climate change mitigation policies through eco-innovations and Quintuple Helix Model," Technological Forecasting and Social Change, Elsevier, vol. 160(C).
    17. Ren, Shenggang & Hu, Yucai & Zheng, Jingjing & Wang, Yangjie, 2020. "Emissions trading and firm innovation: Evidence from a natural experiment in China," Technological Forecasting and Social Change, Elsevier, vol. 155(C).
    18. Grafström, Jonas & Poudineh, Rahmat, 2023. "No evidence of counteracting policy effects on European solar power invention and diffusion," Energy Policy, Elsevier, vol. 172(C).
    19. Ribeiro, Lauro André & Silva, Patrícia Pereira da, 2013. "Surveying techno-economic indicators of microalgae biofuel technologies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 25(C), pages 89-96.
    20. Massimiliano Mazzanti & Valeria Costantini & Susanna Mancinelli & Massimilano Corradini, 2011. "Environmental and Innovation Performance in a Dynamic Impure Public Good Framework," Working Papers 201117, University of Ferrara, Department of Economics.

    More about this item

    Keywords

    Ρenewable energy; economic evaluation; TOPSIS; strategic planning; synthetic indicators.;
    All these keywords.

    JEL classification:

    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xxvii:y:2024:i:3:p:350-364. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.