IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v16y2023i3p1338-d1048088.html
   My bibliography  Save this article

Analysis of the Situation of Renewable and Non-Renewable Energy Consumption in the European Union

Author

Listed:
  • Constantin Anghelache

    (Faculty of Cybernetics, Statistics and Economic Informatics, Department of Statistics and Econometrics, Bucharest University of Economic Studies, 6 Piata Romana, 1st District, 010374 Bucharest, Romania
    Faculty of Finance and Accounting, Artifex University of Bucharest, 47 Economu Cezărescu Street, 6st District, 060754 Bucharest, Romania)

  • Mădălina Gabriela Anghel

    (Faculty of Finance and Accounting, Artifex University of Bucharest, 47 Economu Cezărescu Street, 6st District, 060754 Bucharest, Romania)

  • Ștefan Virgil Iacob

    (Faculty of Finance and Accounting, Artifex University of Bucharest, 47 Economu Cezărescu Street, 6st District, 060754 Bucharest, Romania
    Faculty of Economic Sciences, Department of Cybernetics, Economic Informatics, Finance and Accounting, Petroleum—Gas University of Ploiesti, 39 Bucharest Boulevard, 100680 Ploieşti, Romania)

  • Ion Pârțachi

    (Department of Econometrics and Economic Statistics, Academy of Economic Sciences of Moldova, Str. Banulescu-Bodoni 61, MD-2005 Chișinău, Moldova)

  • Irina Gabriela Rădulescu

    (Faculty of Economic Sciences, Department of Cybernetics, Economic Informatics, Finance and Accounting, Petroleum—Gas University of Ploiesti, 39 Bucharest Boulevard, 100680 Ploieşti, Romania)

  • Alina Gabriela Brezoi

    (Faculty of Economic Sciences, Department of Cybernetics, Economic Informatics, Finance and Accounting, Petroleum—Gas University of Ploiesti, 39 Bucharest Boulevard, 100680 Ploieşti, Romania)

Abstract

In this article, the authors present the results of research undertaken in relation to the situation regarding renewable and non-renewable energy reserves in the European Union, as well as the way in which this energy is consumed. The general view presented regarding energy resources around the world is that oil, natural gas and coal are being exhausted at an alarming rate and if we continue to exploit these oil resources at our current pace, we will see a massive depletion in energy resources over the next 41 years. The authors also focus on representing the intensity of greenhouse gas emissions from energy consumption, demonstrating that it has shown a slight decrease in the European Union. The resources and consumption of renewable and non-renewable energy were analyzed in close interdependence with these indicators under study, such as final energy consumption, renewable energy and total energy production, in order to give a correct interpretation of how these resources are used. At the same time, starting from the fact that the world economy is currently facing a cluster of crises (pandemic, financial-economic, energy, general resources), it was deemed important to highlight the fact that the total production of energy demonstrated an oscillating trend during this period.

Suggested Citation

  • Constantin Anghelache & Mădălina Gabriela Anghel & Ștefan Virgil Iacob & Ion Pârțachi & Irina Gabriela Rădulescu & Alina Gabriela Brezoi, 2023. "Analysis of the Situation of Renewable and Non-Renewable Energy Consumption in the European Union," Energies, MDPI, vol. 16(3), pages 1-15, January.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:3:p:1338-:d:1048088
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/16/3/1338/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/16/3/1338/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Shahbaz, Muhammad & Nasreen, Samia & Ahmed, Khalid & Hammoudeh, Shawkat, 2017. "Trade openness–carbon emissions nexus: The importance of turning points of trade openness for country panels," Energy Economics, Elsevier, vol. 61(C), pages 221-232.
    2. Daniel Ştefan Armeanu & Ştefan Cristian Gherghina & George Pasmangiu, 2019. "Exploring the Causal Nexus between Energy Consumption, Environmental Pollution and Economic Growth: Empirical Evidence from Central and Eastern Europe," Energies, MDPI, vol. 12(19), pages 1-27, September.
    3. Abdul Rehman & Magdalena Radulescu & Hengyun Ma & Vishal Dagar & Imran Hussain & Muhammad Kamran Khan, 2021. "The Impact of Globalization, Energy Use, and Trade on Ecological Footprint in Pakistan: Does Environmental Sustainability Exist?," Energies, MDPI, vol. 14(17), pages 1-16, August.
    4. Acheampong, Alex O. & Boateng, Elliot & Amponsah, Mary & Dzator, Janet, 2021. "Revisiting the economic growth–energy consumption nexus: Does globalization matter?," Energy Economics, Elsevier, vol. 102(C).
    5. Shahbaz, Muhammad & Raghutla, Chandrashekar & Chittedi, Krishna Reddy & Jiao, Zhilun & Vo, Xuan Vinh, 2020. "The effect of renewable energy consumption on economic growth: Evidence from the renewable energy country attractive index," Energy, Elsevier, vol. 207(C).
    6. Xia, Wanjun & Apergis, Nicholas & Bashir, Muhammad Farhan & Ghosh, Sudeshna & Doğan, Buhari & Shahzad, Umer, 2022. "Investigating the role of globalization, and energy consumption for environmental externalities: Empirical evidence from developed and developing economies," Renewable Energy, Elsevier, vol. 183(C), pages 219-228.
    7. Victor Platon & Simona Frone & Andreea Constantinescu & Sorina Jurist, 2010. "Current Perspectives and Challenges of Biofuel Production and Consumption," Romanian Journal of Economics, Institute of National Economy, vol. 31(2(40)), pages 107-128, December.
    8. Zbysław Dobrowolski, 2021. "Energy and Local Safety: How the Administration Limits Energy Security," Energies, MDPI, vol. 14(16), pages 1-11, August.
    9. Marian Zaharia & Aurelia Pătrașcu & Manuela Rodica Gogonea & Ana Tănăsescu & Constanța Popescu, 2017. "A Cluster Design on the Influence of Energy Taxation in Shaping the New EU-28 Economic Paradigm," Energies, MDPI, vol. 10(2), pages 1-21, February.
    10. João Flores & Miguel Cavique & Júlia Seixas, 2022. "Energy Sustainability—Rebounds Revisited Using Axiomatic Design," Sustainability, MDPI, vol. 14(11), pages 1-15, May.
    11. Mihaela Simionescu & Yuriy Bilan & Emília Krajňáková & Dalia Streimikiene & Stanisław Gędek, 2019. "Renewable Energy in the Electricity Sector and GDP per Capita in the European Union," Energies, MDPI, vol. 12(13), pages 1-15, June.
    12. Sułkowski, Łukasz & Dobrowolski, Zbysław, 2021. "The role of supreme audit institutions in energy accountability in EU countries," Energy Policy, Elsevier, vol. 156(C).
    13. Zbysław Dobrowolski & Grzegorz Drozdowski, 2022. "Does the Net Present Value as a Financial Metric Fit Investment in Green Energy Security?," Energies, MDPI, vol. 15(1), pages 1-16, January.
    14. Balsalobre-Lorente, Daniel & Shahbaz, Muhammad & Roubaud, David & Farhani, Sahbi, 2018. "How economic growth, renewable electricity and natural resources contribute to CO2 emissions?," Energy Policy, Elsevier, vol. 113(C), pages 356-367.
    15. Balsalobre-Lorente, Daniel & Ibáñez-Luzón, Lucia & Usman, Muhammad & Shahbaz, Muhammad, 2022. "The environmental Kuznets curve, based on the economic complexity, and the pollution haven hypothesis in PIIGS countries," Renewable Energy, Elsevier, vol. 185(C), pages 1441-1455.
    16. Shahbaz, Muhammad & Raghutla, Chandrashekar & Song, Malin & Zameer, Hashim & Jiao, Zhilun, 2020. "Public-private partnerships investment in energy as new determinant of CO2 emissions: The role of technological innovations in China," Energy Economics, Elsevier, vol. 86(C).
    17. Elena Druică & Zizi Goschin & Rodica Ianole-Călin, 2019. "Energy Poverty and Life Satisfaction: Structural Mechanisms and Their Implications," Energies, MDPI, vol. 12(20), pages 1-20, October.
    18. Adrian Neacșa & Mirela Panait & Jianu Daniel Mureșan & Marian Catalin Voica & Otilia Manta, 2022. "The Energy Transition between Desideratum and Challenge: Are Cogeneration and Trigeneration the Best Solution?," IJERPH, MDPI, vol. 19(5), pages 1-22, March.
    19. Jahanger, Atif & Usman, Muhammad & Murshed, Muntasir & Mahmood, Haider & Balsalobre-Lorente, Daniel, 2022. "The linkages between natural resources, human capital, globalization, economic growth, financial development, and ecological footprint: The moderating role of technological innovations," Resources Policy, Elsevier, vol. 76(C).
    20. Muhammad Kamran Khan & Muhammad Imran Khan & Muhammad Rehan, 2020. "The relationship between energy consumption, economic growth and carbon dioxide emissions in Pakistan," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-13, December.
    21. Wang, Juan & Zhang, Sulan & Zhang, Qingjun, 2021. "The relationship of renewable energy consumption to financial development and economic growth in China," Renewable Energy, Elsevier, vol. 170(C), pages 897-904.
    22. Zbysław Dobrowolski, 2021. "Internet of Things and Other E-Solutions in Supply Chain Management May Generate Threats in the Energy Sector—The Quest for Preventive Measures," Energies, MDPI, vol. 14(17), pages 1-11, August.
    23. Gina Ionela Butnaru & Alina-Petronela Haller & Raluca Irina Clipa & Mirela Ștefănică & Mihaela Ifrim, 2020. "The Nexus Between Convergence of Conventional and Renewable Energy Consumption in the Present European Union States. Explorative Study on Parametric and Semi-Parametric Methods," Energies, MDPI, vol. 13(20), pages 1-19, October.
    24. Umer Shahzad & Magdalena Radulescu & Syed Rahim & Cem Isik & Zahid Yousaf & Stefan Alexandru Ionescu, 2021. "Do Environment-Related Policy Instruments and Technologies Facilitate Renewable Energy Generation? Exploring the Contextual Evidence from Developed Economies," Energies, MDPI, vol. 14(3), pages 1-25, January.
    25. Popescu, Gheorghe H. & Mieila, Mihai & Nica, Elvira & Andrei, Jean Vasile, 2018. "The emergence of the effects and determinants of the energy paradigm changes on European Union economy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P1), pages 768-774.
    26. Chen, Chaoyi & Pinar, Mehmet & Stengos, Thanasis, 2021. "Determinants of renewable energy consumption: Importance of democratic institutions," Renewable Energy, Elsevier, vol. 179(C), pages 75-83.
    27. Stefan Bouzarovski & Harriet Thomson & Marine Cornelis, 2021. "Confronting Energy Poverty in Europe: A Research and Policy Agenda," Energies, MDPI, vol. 14(4), pages 1-19, February.
    28. Lange, Steffen & Pohl, Johanna & Santarius, Tilman, 2020. "Digitalization and energy consumption. Does ICT reduce energy demand?," Ecological Economics, Elsevier, vol. 176(C).
    29. Sharma, Gagan Deep & Tiwari, Aviral Kumar & Erkut, Burak & Mundi, Hardeep Singh, 2021. "Exploring the nexus between non-renewable and renewable energy consumptions and economic development: Evidence from panel estimations," Renewable and Sustainable Energy Reviews, Elsevier, vol. 146(C).
    30. Mihaela Simionescu & Carmen Beatrice Păuna & Tiberiu Diaconescu, 2020. "Renewable Energy and Economic Performance in the Context of the European Green Deal," Energies, MDPI, vol. 13(23), pages 1-19, December.
    31. 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).
    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. Panait, Mirela & Apostu, Simona Andreea & Vasile, Valentina & Vasile, Razvan, 2022. "Is energy efficiency a robust driver for the new normal development model? A Granger causality analysis," Energy Policy, Elsevier, vol. 169(C).
    2. Diana Joița & Mirela Panait & Carmen-Elena Dobrotă & Alin Diniță & Adrian Neacșa & Laura Elly Naghi, 2023. "The European Dilemma—Energy Security or Green Transition," Energies, MDPI, vol. 16(9), pages 1-16, April.
    3. Simona Andreea Apostu & Iza Gigauri & Mirela Panait & Pedro A. Martín-Cervantes, 2023. "Is Europe on the Way to Sustainable Development? Compatibility of Green Environment, Economic Growth, and Circular Economy Issues," IJERPH, MDPI, vol. 20(2), pages 1-17, January.
    4. Simona Andreea Apostu & Mirela Panait & Daniel Balsalobre-Lorente & Diogo Ferraz & Irina Gabriela Rădulescu, 2022. "Energy Transition in Non-Euro Countries from Central and Eastern Europe: Evidence from Panel Vector Error Correction Model," Energies, MDPI, vol. 15(23), pages 1-21, December.
    5. Zbysław Dobrowolski & Grzegorz Drozdowski & Mirela Panait & Arkadiusz Babczuk, 2022. "Can the Economic Value Added Be Used as the Universal Financial Metric?," Sustainability, MDPI, vol. 14(5), pages 1-14, March.
    6. Zbysław Dobrowolski & Łukasz Sułkowski, 2021. "Business Model Canvas and Energy Enterprises," Energies, MDPI, vol. 14(21), pages 1-10, November.
    7. Trinh, Hai Hong & Sharma, Gagan Deep & Tiwari, Aviral Kumar & Vo, Diem Thi Hong, 2022. "Examining the heterogeneity of financial development in the energy-environment nexus in the era of climate change: Novel evidence around the world," Energy Economics, Elsevier, vol. 116(C).
    8. Talan, Amogh & Rao, Amar & Sharma, Gagan Deep & Apostu, Simona-Andreea & Abbas, Shujaat, 2023. "Transition towards clean energy consumption in G7: Can financial sector, ICT and democracy help?," Resources Policy, Elsevier, vol. 82(C).
    9. Abbasi, Kashif Raza & Hussain, Khadim & Haddad, Akram Masoud & Salman, Asma & Ozturk, Ilhan, 2022. "The role of Financial Development and Technological Innovation towards Sustainable Development in Pakistan: Fresh insights from consumption and territory-based emissions," Technological Forecasting and Social Change, Elsevier, vol. 176(C).
    10. Adrian Neacșa & Mirela Panait & Jianu Daniel Mureșan & Marian Catalin Voica & Otilia Manta, 2022. "The Energy Transition between Desideratum and Challenge: Are Cogeneration and Trigeneration the Best Solution?," IJERPH, MDPI, vol. 19(5), pages 1-22, March.
    11. Mmbaga, Nanzia F. & Kulindwa, Yusuph & Kazungu, Isaac, 2023. "Energy Consumption and Economic Growth Nexus in East African Sub-Region: Interactive Dynamics of Human Capital," African Journal of Economic Review, African Journal of Economic Review, vol. 11(5), December.
    12. Adedoyin Isola Lawal, 2023. "The Nexus between Economic Growth, Energy Consumption, Agricultural Output, and CO 2 in Africa: Evidence from Frequency Domain Estimates," Energies, MDPI, vol. 16(3), pages 1-27, January.
    13. Chu, Lan Khanh & Ghosh, Sudeshna & Doğan, Buhari & Nguyen, Nam Hoai & Shahbaz, Muhammad, 2023. "Energy security as new determinant of renewable energy: The role of economic complexity in top energy users," Energy, Elsevier, vol. 263(PC).
    14. Dervis Kirikkaleli & Hasan Güngör & Tomiwa Sunday Adebayo, 2022. "Consumption‐based carbon emissions, renewable energy consumption, financial development and economic growth in Chile," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 1123-1137, March.
    15. 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.
    16. Wu, Hong, 2023. "Evaluating the role of renewable energy investment resources and green finance on the economic performance: Evidence from OECD economies," Resources Policy, Elsevier, vol. 80(C).
    17. Stephen Taiwo Onifade & Andrew Adewale Alola, 2022. "Energy transition and environmental quality prospects in leading emerging economies: The role of environmental‐related technological innovation," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1766-1778, December.
    18. Nabila Asghar & Muhammad Asif Amjad & Hafeez ur Rehman & Mubbasher Munir & Reda Alhajj, 2023. "Causes of Higher Ecological Footprint in Pakistan: Does Energy Consumption Contribute? Evidence from the Non-Linear ARDL Model," Sustainability, MDPI, vol. 15(4), pages 1-12, February.
    19. Tan, Yan & Uprasen, Utai, 2022. "The effect of foreign direct investment on renewable energy consumption subject to the moderating effect of environmental regulation: Evidence from the BRICS countries," Renewable Energy, Elsevier, vol. 201(P2), pages 135-149.
    20. Yi, Sun & Raghutla, Chandrashekar & Chittedi, Krishna Reddy & Fareed, Zeeshan, 2023. "How economic policy uncertainty and financial development contribute to renewable energy consumption? The importance of economic globalization," Renewable Energy, Elsevier, vol. 202(C), pages 1357-1367.

    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:16:y:2023:i:3:p:1338-:d:1048088. 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.