IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v15y2022i23p8882-d982970.html
   My bibliography  Save this article

Renewable Energies: Economic and Energy Impact in the Context of Increasing the Share of Electric Cars in EU

Author

Listed:
  • Andreea-Ileana Zamfir

    (Faculty of Management, Bucharest University of Economics Studies, 010374 Bucharest, Romania)

  • Elena Oana Croitoru

    (Faculty of Management, Bucharest University of Economics Studies, 010374 Bucharest, Romania)

  • Cristina Burlacioiu

    (The Institute for Business Administration in Bucharest, ASEBUSS, 012101 Bucharest, Romania)

  • Cosmin Dobrin

    (Faculty of Management, Bucharest University of Economics Studies, 010374 Bucharest, Romania)

Abstract

Renewable energies have an essential role in reducing various forms of pollution. The policymakers within the European Union place more and more emphasis on the replacement of internal combustion engine vehicles with electric vehicles in order to reduce emissions. The aim of this research is to analyze the current trends in producing and using renewable energy until 2028 and to estimate the impact of replacing the current internal combustion engine cars with electric cars. The significance of this study emerges from the estimation of the amount of electricity needed to replace current cars with electric cars and if it can be covered from green sources, based on the forecast of green energy until the year 2028. In addition, we also calculate in this study the impact on the public budgets of the European Union member states, as a result of the reduction of excise duties for fuels, following the reduction of their consumption. The research was carried out based on the extensive literature on the subject and data from Eurostat. The data used in this study are from 1990 to 2021. In this research we have used the IBM SPSS application with two of the most used forecasting algorithms: exponential smoothing model and autoregressive integrated moving average (ARIMA), based on the statistical analysis of the historical data. The estimated results showed that the replacement of traditional fuels will lead to an increase of 12.18% for electrical energy, and it could be covered 100% from green sources, if needed, even before 2028. There are many implications of this study for policymakers and the population. The results show that we still need policies to stimulate electricity production from renewable sources. There is a challenge regarding reducing government revenue due to fuel excises, which can be compensated by updating tax policies, with an impact on population and living standards. Furthermore, maintaining and adapting support schemes for electric cars, as well as expanding electric car infrastructure and smart grids are also challenges that need to be addressed by the policymakers and the industry.

Suggested Citation

  • Andreea-Ileana Zamfir & Elena Oana Croitoru & Cristina Burlacioiu & Cosmin Dobrin, 2022. "Renewable Energies: Economic and Energy Impact in the Context of Increasing the Share of Electric Cars in EU," Energies, MDPI, vol. 15(23), pages 1-19, November.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:23:p:8882-:d:982970
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/15/23/8882/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/15/23/8882/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Lean, Hooi Hooi & Smyth, Russell, 2013. "Will policies to promote renewable electricity generation be effective? Evidence from panel stationarity and unit root tests for 115 countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 22(C), pages 371-379.
    2. Pablo-Romero, María P. & Sánchez-Braza, Antonio & Galyan, Anna, 2021. "Renewable energy use for electricity generation in transition economies: Evolution, targets and promotion policies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 138(C).
    3. Ion VERBONCU, 2013. "Steps To Excellence In The Industrial Enterprises Management," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 3(4), pages 5-23, December.
    4. Zamfir, Andreea & Colesca, Sofia Elena & Corbos, Razvan-Andrei, 2016. "Public policies to support the development of renewable energy in Romania: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 58(C), pages 87-106.
    5. Gawel, Erik & Strunz, Sebastian & Lehmann, Paul, 2014. "A public choice view on the climate and energy policy mix in the EU — How do the emissions trading scheme and support for renewable energies interact?," Energy Policy, Elsevier, vol. 64(C), pages 175-182.
    6. Davide Antonioli & Davide Antonioli & Elisa Chioatto & Massimiliano Mazzanti, 2022. "Innovations and the circular economy: a national and regional perspective," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 4(1), pages 57-70, March.
    7. Manuela TvaronaviÄ ienÄ— & Manuela TvaronaviÄ ienÄ— & Tomas PlÄ—ta & Silvia Della Casa & Juozas Latvys, 2020. "Cyber security management of critical energy infrastructure in national cybersecurity strategies: cases of USA, UK, France, Estonia and Lithuania," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 2(4), pages 802-813, December.
    8. Sovacool, Benjamin K., 2009. "The intermittency of wind, solar, and renewable electricity generators: Technical barrier or rhetorical excuse?," Utilities Policy, Elsevier, vol. 17(3-4), pages 288-296, September.
    9. Sánchez, A.S. & Torres, E.A. & Kalid, R.A., 2015. "Renewable energy generation for the rural electrification of isolated communities in the Amazon Region," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 278-290.
    10. Olawale Fatoki, 2020. "Determinants of hotel employees’ electricity saving intention: extending the theory of planned behaviour," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 86-97, December.
    11. Stefan Dominic GEORGESCU, 2013. "The Moral Manager: Regaining Ethics For Business," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 3(4), pages 24-29, December.
    12. Croce, Antonello Ignazio & Musolino, Giuseppe & Rindone, Corrado & Vitetta, Antonino, 2019. "Sustainable mobility and energy resources: A quantitative assessment of transport services with electrical vehicles," Renewable and Sustainable Energy Reviews, Elsevier, vol. 113(C), pages 1-1.
    13. Ansarin, Mohammad & Ghiassi-Farrokhfal, Yashar & Ketter, Wolfgang & Collins, John, 2022. "A review of equity in electricity tariffs in the renewable energy era," Renewable and Sustainable Energy Reviews, Elsevier, vol. 161(C).
    14. Stigka, Eleni K. & Paravantis, John A. & Mihalakakou, Giouli K., 2014. "Social acceptance of renewable energy sources: A review of contingent valuation applications," Renewable and Sustainable Energy Reviews, Elsevier, vol. 32(C), pages 100-106.
    15. Kamil Makieła & Błażej Mazur & Jakub Głowacki, 2022. "The Impact of Renewable Energy Supply on Economic Growth and Productivity," Energies, MDPI, vol. 15(13), pages 1-13, June.
    16. Alfonso Marino & Paolo Pariso, 2021. "The transition towards to the circular economy: European SMEs' trajectories," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 431-455, June.
    17. Younes, Amin & Fingerman, Kevin R. & Barrientos, Cassidy & Carman, Jerome & Johnson, Karly & Wallach, Eli S., 2022. "How the U.S. Renewable Fuel Standard could use garbage to pay for electric vehicles," Energy Policy, Elsevier, vol. 166(C).
    18. Andreea ZAMFIR, 2014. "Developing URBAN RENEWABLE ENERGY PROJECTS: OPPORTUNITIES AND CHALLENGES FOR ROMANIA," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 9(4), pages 52-64, November.
    19. Ugis Sarma & Ugis Sarma & Girts Karnitis & Janis Zuters & Edvins Karnitis, 2019. "District heating networks: enhancement of the efficiency," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 1(3), pages 200-213, September.
    20. Phuong V. Nguyen & Khoa T. Tran, 2020. "Explicating energy saving intention from the prospect of small medium enterprises," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 716-734, December.
    21. Piotr Bórawski & Rafał Wyszomierski & Aneta Bełdycka-Bórawska & Bartosz Mickiewicz & Beata Kalinowska & James W. Dunn & Tomasz Rokicki, 2022. "Development of Renewable Energy Sources in the European Union in the Context of Sustainable Development Policy," Energies, MDPI, vol. 15(4), pages 1-20, February.
    22. Cao, Jidi & Chen, Xin & Qiu, Rui & Hou, Shuhua, 2021. "Electric vehicle industry sustainable development with a stakeholder engagement system," Technology in Society, Elsevier, vol. 67(C).
    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. Luiz Almeida & Ana Soares & Pedro Moura, 2023. "A Systematic Review of Optimization Approaches for the Integration of Electric Vehicles in Public Buildings," Energies, MDPI, vol. 16(13), pages 1-26, June.
    2. Gábor Horváth & Attila Bai & Sándor Szegedi & István Lázár & Csongor Máthé & László Huzsvai & Máté Zakar & Zoltán Gabnai & Tamás Tóth, 2023. "A Comprehensive Review of the Distinctive Tendencies of the Diffusion of E-Mobility in Central Europe," Energies, MDPI, vol. 16(14), pages 1-29, July.

    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. Zamfir, Andreea & Colesca, Sofia Elena & Corbos, Razvan-Andrei, 2016. "Public policies to support the development of renewable energy in Romania: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 58(C), pages 87-106.
    2. Andreea ZAMFIR, 2014. "Developing URBAN RENEWABLE ENERGY PROJECTS: OPPORTUNITIES AND CHALLENGES FOR ROMANIA," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 9(4), pages 52-64, November.
    3. Andreea ZAMFIR, 2014. "Steps Towards A New Renewable Energy Public Policy In Romania," Proceedings of Administration and Public Management International Conference, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 10(1), pages 115-119, June.
    4. Elena Vechkinzova & Yelena Petrenko & Yana S. Matkovskaya & Gaukhar Koshebayeva, 2021. "The Dilemma of Long-Term Development of the Electric Power Industry in Kazakhstan," Energies, MDPI, vol. 14(9), pages 1-21, April.
    5. Romano, Antonio A. & Scandurra, Giuseppe & Carfora, Alfonso & Fodor, Mate, 2017. "Renewable investments: The impact of green policies in developing and developed countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 68(P1), pages 738-747.
    6. Liu, Ying & Feng, Chao, 2023. "Promoting renewable energy through national energy legislation," Energy Economics, Elsevier, vol. 118(C).
    7. Wadim Strielkowski & Irina Firsova & Inna Lukashenko & Jurgita Raudeliūnienė & Manuela Tvaronavičienė, 2021. "Effective Management of Energy Consumption during the COVID-19 Pandemic: The Role of ICT Solutions," Energies, MDPI, vol. 14(4), pages 1-17, February.
    8. Marko Milojević & Mariusz Urbański & Ivica Terzić & Valeriy Prasolov, 2020. "Impact of Non-Financial Factors on the Effectiveness of Audits in Energy Companies," Energies, MDPI, vol. 13(23), pages 1-17, November.
    9. Bigerna, Simona & Bollino, Carlo Andrea & Micheli, Silvia, 2016. "Renewable energy scenarios for costs reductions in the European Union," Renewable Energy, Elsevier, vol. 96(PA), pages 80-90.
    10. Sebastian Ion CEPTUREANU, 2015. "Competitiveness Of Smes," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 5(2), pages 55-67, June.
    11. Cristea, Ciprian & Cristea, Maria & Birou, Iulian & Tîrnovan, Radu-Adrian, 2020. "Economic assessment of grid-connected residential solar photovoltaic systems introduced under Romania’s new regulation," Renewable Energy, Elsevier, vol. 162(C), pages 13-29.
    12. Chou, Jui-Sheng & Gusti Ayu Novi Yutami, I, 2014. "Smart meter adoption and deployment strategy for residential buildings in Indonesia," Applied Energy, Elsevier, vol. 128(C), pages 336-349.
    13. Piotr Siemiątkowski & Patryk Tomaszewski & Joanna Marszałek-Kawa & Janusz Gierszewski, 2020. "The Financing of Renewable Energy Sources and the Level of Sustainable Development of Poland’s Provinces in the Area of Environmental Order," Energies, MDPI, vol. 13(21), pages 1-19, October.
    14. Łukasz Jarosław Kozar & Robert Matusiak & Marta Paduszyńska & Adam Sulich, 2022. "Green Jobs in the EU Renewable Energy Sector: Quantile Regression Approach," Energies, MDPI, vol. 15(18), pages 1-21, September.
    15. Paola Panuccio, 2019. "Smart Planning: From City to Territorial System," Sustainability, MDPI, vol. 11(24), pages 1-15, December.
    16. Agus Sugiarto & Cheng-Wen Lee & Andrian Dolfriandra Huruta & Christine Dewi & Abbott Po Shun Chen, 2022. "Predictors of Pro-Environmental Intention and Behavior: A Perspective of Stimulus–Organism–Response Theory," Sustainability, MDPI, vol. 14(23), pages 1-17, December.
    17. Antoine Boche & Clément Foucher & Luiz Fernando Lavado Villa, 2022. "Understanding Microgrid Sustainability: A Systemic and Comprehensive Review," Energies, MDPI, vol. 15(8), pages 1-29, April.
    18. Liu, Weiwei & Song, Yifan & Bi, Kexin, 2021. "Exploring the patent collaboration network of China's wind energy industry: A study based on patent data from CNIPA," Renewable and Sustainable Energy Reviews, Elsevier, vol. 144(C).
    19. Huang, Shih-Chieh & Lo, Shang-Lien & Lin, Yen-Ching, 2013. "Application of a fuzzy cognitive map based on a structural equation model for the identification of limitations to the development of wind power," Energy Policy, Elsevier, vol. 63(C), pages 851-861.
    20. Klein, Sharon J.W. & Coffey, Stephanie, 2016. "Building a sustainable energy future, one community at a time," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 867-880.

    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:23:p:8882-:d:982970. 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.