IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v15y2022i1p332-d717263.html
   My bibliography  Save this article

The Impact of Renewable Energy Sources on the Economic Growth of Poland and Sweden Considering COVID-19 Times

Author

Listed:
  • Bogusław Ślusarczyk

    (Institute of Economics and Finance, Social Sciences College, University of Rzeszów, Rzeszów, 1, Ćwiklińskiej Street, 35-601 Rzeszow, Poland)

  • Patrycja Żegleń

    (Institute of Economics and Finance, Social Sciences College, University of Rzeszów, Rzeszów, 1, Ćwiklińskiej Street, 35-601 Rzeszow, Poland)

  • Aldona Kluczek

    (Faculty of Mechanical and Industrial Engineering, Institute of Production Systems Organization, Warsaw University of Technology, 86, Narbutta Street, 02-524 Warsaw, Poland)

  • Anna Nizioł

    (Institute of Physical Culture Sciences, Medical Sciences College, University of Rzeszów, Rzeszów, 2A, Cicha Street, 35-959 Rzeszow, Poland)

  • Małgorzata Górka

    (Commodity Science Unit, Carpathian State College in Krosno, Rynek 1, 38-400 Krosno, Poland)

Abstract

A demonstration of the relationship between the share of renewables in gross marginal energy and selected countries’ economic growth is the basis of this research. The paper seeks to investigate mutual correlations between renewable energy sources and economic growth for two EU economies and how it influences their fluctuations (increase and decrease). The comparative analysis of results was carried out for less-income Polish and high-income Swedish economies. This research used a regression model to answer the research questions examining the presence of correlations between renewable energy sources in gross marginal energy consumption and economic growth. This study analyzes data starting from 1991 to 2022. The results indicated a positive correlation (statistical significance) between Gross Domestic Product and Gross National Income variables for Sweden (84.6% and 83.7%, respectively) and Poland (79.9% and 79.2%, respectively), which influence the use of renewable energy sources. The findings also reveal that the higher economic growth caused by the use of renewables is observed for the leading countries but at the same time the risk of a greater recession is much more likely than in other countries. These findings would help government officials and policymakers to better understand the role of renewable energy in the economic growth of these countries. This study has contributed to the literature on renewable energy sources and statistical reports under the EU energy sector framework.

Suggested Citation

  • Bogusław Ślusarczyk & Patrycja Żegleń & Aldona Kluczek & Anna Nizioł & Małgorzata Górka, 2022. "The Impact of Renewable Energy Sources on the Economic Growth of Poland and Sweden Considering COVID-19 Times," Energies, MDPI, vol. 15(1), pages 1-19, January.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:1:p:332-:d:717263
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/15/1/332/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/15/1/332/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Destek, Mehmet & Sinha, Avik, 2020. "Renewable, non-renewable energy consumption, economic growth, trade openness and ecological footprint: Evidence from organisation for economic Co-operation and development countries," MPRA Paper 104246, University Library of Munich, Germany, revised 2020.
    2. Nasreen, Samia & Anwar, Sofia & Ozturk, Ilhan, 2017. "Financial stability, energy consumption and environmental quality: Evidence from South Asian economies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 67(C), pages 1105-1122.
    3. Ozcan, Burcu & Ozturk, Ilhan, 2019. "Renewable energy consumption-economic growth nexus in emerging countries: A bootstrap panel causality test," Renewable and Sustainable Energy Reviews, Elsevier, vol. 104(C), pages 30-37.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ewa Chomać-Pierzecka & Anna Sobczak & Dariusz Soboń, 2022. "Wind Energy Market in Poland in the Background of the Baltic Sea Bordering Countries in the Era of the COVID-19 Pandemic," Energies, MDPI, vol. 15(7), pages 1-21, March.
    2. Rabie Said & Muhammad Ishaq Bhatti & Ahmed Imran Hunjra, 2022. "Toward Understanding Renewable Energy and Sustainable Development in Developing and Developed Economies: A Review," Energies, MDPI, vol. 15(15), pages 1-12, July.
    3. Pampa Sinha & Kaushik Paul & Sanchari Deb & Sulabh Sachan, 2023. "Comprehensive Review Based on the Impact of Integrating Electric Vehicle and Renewable Energy Sources to the Grid," Energies, MDPI, vol. 16(6), pages 1-39, March.
    4. Bożena Gajdzik & Magdalena Jaciow & Radosław Wolniak & Robert Wolny & Wieslaw Wes Grebski, 2023. "Energy Behaviors of Prosumers in Example of Polish Households," Energies, MDPI, vol. 16(7), pages 1-26, March.
    5. Ewa Chomać-Pierzecka & Anna Sobczak & Dariusz Soboń, 2022. "The Potential and Development of the Geothermal Energy Market in Poland and the Baltic States—Selected Aspects," Energies, MDPI, vol. 15(11), pages 1-20, June.
    6. Zheng, Chengting & Wu, Shufang & Teng, Yin-Pei & Wu, Shuzhao & Wang, Zhe, 2023. "Natural resources, tourism resources and economic growth: A new direction to natural resources perspective and investment," Resources Policy, Elsevier, vol. 86(PB).
    7. Daniel Zbroński & Henryk Otwinowski & Aleksandra Górecka-Zbrońska & Dariusz Urbaniak & Tomasz Wyleciał, 2023. "Analysis of Changes in Electricity Generation from Renewable Energy Sources after Poland’s Accession to Structures of the European Union," Energies, MDPI, vol. 16(12), pages 1-16, June.
    8. Wang, Haiyan & Lei, Zhaoyang, 2023. "Energy supply from oil and gas, mineral depletion, and total natural resource rents: Impact of oil equivalent energy use CO2 intensity," Resources Policy, Elsevier, vol. 86(PB).
    9. Salokhiddin Avazkhodjaev & Jaloliddin Usmonov & M ria Bohdalov & Wee-Yeap Lau, 2022. "The Causal Nexus between Renewable Energy, CO2 Emissions, and Economic Growth: New Evidence from CIS Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 12(6), pages 248-260, November.
    10. Khairul Aswadi & Abd. Jamal & Sofyan Syahnur & Muhammad Nasir, 2023. "Renewable and Non-renewable Energy Consumption in Indonesia: Does it Matter for Economic Growth?," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 107-116, March.
    11. Cai, Xuesen & Wei, Changjing, 2023. "Does financial inclusion and renewable energy impede environmental quality: Empirical evidence from BRI countries," Renewable Energy, Elsevier, vol. 209(C), pages 481-490.
    12. Valentyna Kukharets & Taras Hutsol & Savelii Kukharets & Szymon Glowacki & Tomasz Nurek & Dmytro Sorokin, 2023. "European Green Deal: The Impact of the Level of Renewable Energy Source and Gross Domestic Product per Capita on Energy Import Dependency," Sustainability, MDPI, vol. 15(15), pages 1-15, August.

    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. Usman, Muhammad & Khalid, Khaizran & Mehdi, Muhammad Abuzar, 2021. "What determines environmental deficit in Asia? Embossing the role of renewable and non-renewable energy utilization," Renewable Energy, Elsevier, vol. 168(C), pages 1165-1176.
    2. Zhongwei, Huang & Liu, Yishu, 2022. "The role of eco-innovations, trade openness, and human capital in sustainable renewable energy consumption: Evidence using CS-ARDL approach," Renewable Energy, Elsevier, vol. 201(P1), pages 131-140.
    3. Dogan, Eyup & Altinoz, Buket & Madaleno, Mara & Taskin, Dilvin, 2020. "The impact of renewable energy consumption to economic growth: A replication and extension of Inglesi-Lotz (2016)," Energy Economics, Elsevier, vol. 90(C).
    4. Irfan Khan & Fujun Hou, 2021. "The Impact of Socio-economic and Environmental Sustainability on CO2 Emissions: A Novel Framework for Thirty IEA Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 155(3), pages 1045-1076, June.
    5. Yang, Zhendong & Abbas, Qaiser & Hanif, Imran & Alharthi, Majed & Taghizadeh-Hesary, Farhad & Aziz, Babar & Mohsin, Muhammad, 2021. "Short- and long-run influence of energy utilization and economic growth on carbon discharge in emerging SREB economies," Renewable Energy, Elsevier, vol. 165(P1), pages 43-51.
    6. Mahmood, Ahmad & Zahoor, Ahmed & Xiyue, Yang & Nazim, Hussain & Sinha, Avik, 2021. "Financial development and environmental degradation: Do human capital and institutional quality make a difference?," MPRA Paper 110039, University Library of Munich, Germany, revised 2021.
    7. Boubaker, Sabri & Omri, Anis, 2022. "How does renewable energy contribute to the growth versus environment debate?," Resources Policy, Elsevier, vol. 79(C).
    8. Yao Li & Yugang He, 2024. "Unraveling Korea’s Energy Challenge: The Consequences of Carbon Dioxide Emissions and Energy Use on Economic Sustainability," Sustainability, MDPI, vol. 16(5), pages 1-29, March.
    9. Ulucak, Zübeyde Şentürk & İlkay, Salih Çağrı & Özcan, Burcu & Gedikli, Ayfer, 2020. "Financial globalization and environmental degradation nexus: Evidence from emerging economies," Resources Policy, Elsevier, vol. 67(C).
    10. Zhou, Anhua & Li, Jun, 2022. "How do trade liberalization and human capital affect renewable energy consumption? Evidence from the panel threshold model," Renewable Energy, Elsevier, vol. 184(C), pages 332-342.
    11. Armeanu, Daniel Stefan & Joldes, Camelia Catalina & Gherghina, Stefan Cristian & Andrei, Jean Vasile, 2021. "Understanding the multidimensional linkages among renewable energy, pollution, economic growth and urbanization in contemporary economies: Quantitative assessments across different income countries’ g," Renewable and Sustainable Energy Reviews, Elsevier, vol. 142(C).
    12. Appiah-Otoo, Isaac & Chen, Xudong & Ampah, Jeffrey Dankwa, 2023. "Exploring the moderating role of foreign direct investment in the renewable energy and economic growth nexus: Evidence from West Africa," Energy, Elsevier, vol. 281(C).
    13. Okumus, İlyas & Guzel, Arif Eser & Destek, Mehmet Akif, 2021. "Renewable, Non-renewable Energy Consumption and Economic Growth Nexus in G7: Fresh Evidence from CS-ARDL," MPRA Paper 114136, University Library of Munich, Germany.
    14. Gyimah, Justice & Yao, Xilong & Tachega, Mark Awe & Sam Hayford, Isaac & Opoku-Mensah, Evans, 2022. "Renewable energy consumption and economic growth: New evidence from Ghana," Energy, Elsevier, vol. 248(C).
    15. Fakher, Hossein Ali & Ahmed, Zahoor & Acheampong, Alex O. & Nathaniel, Solomon Prince, 2023. "Renewable energy, nonrenewable energy, and environmental quality nexus: An investigation of the N-shaped Environmental Kuznets Curve based on six environmental indicators," Energy, Elsevier, vol. 263(PA).
    16. Villanthenkodath, Muhammed Ashiq & Mahalik, Mantu Kumar, 2021. "Does economic growth respond to electricity consumption asymmetrically in Bangladesh? The implication for environmental sustainability," Energy, Elsevier, vol. 233(C).
    17. Liu, Yaping & Sadiq, Farah & Ali, Wajahat & Kumail, Tafazal, 2022. "Does tourism development, energy consumption, trade openness and economic growth matters for ecological footprint: Testing the Environmental Kuznets Curve and pollution haven hypothesis for Pakistan," Energy, Elsevier, vol. 245(C).
    18. Marius Dalian Doran & Maria Magdalena Poenaru & Alexandra Lucia Zaharia & Sorana Vătavu & Oana Ramona Lobonț, 2022. "Fiscal Policy, Growth, Financial Development and Renewable Energy in Romania: An Autoregressive Distributed Lag Model with Evidence for Growth Hypothesis," Energies, MDPI, vol. 16(1), pages 1-18, December.
    19. Namahoro, J.P. & Wu, Q. & Su, H., 2023. "Wind energy, industrial-economic development and CO2 emissions nexus: Do droughts matter?," Energy, Elsevier, vol. 278(PA).
    20. Abdul Rehman & Hengyun Ma & Magdalena Radulescu & Crenguta Ileana Sinisi & Zahid Yousaf, 2021. "Energy Crisis in Pakistan and Economic Progress: Decoupling the Impact of Coal Energy Consumption in Power and Brick Kilns," Mathematics, MDPI, vol. 9(17), pages 1-15, August.

    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:gam:jeners:v:15:y:2022:i:1:p:332-:d:717263. 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    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.