Renewables and Decarbonisation: Implications for Energy Policy in the European Union

Dan Gabriel Dumitrescu, Alexandra Horobe? (), Cristiana Doina Tudor and Lucian Belascu
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Dan Gabriel Dumitrescu: Bucharest University of Economic Studies, Bucharest, Romania
Alexandra Horobe?: Bucharest University of Economic Studies, Bucharest, Romania
Cristiana Doina Tudor: Bucharest University of Economic Studies, Bucharest, Romania
Lucian Belascu: Lucian Blaga” University of Sibiu, Romania

The AMFITEATRU ECONOMIC journal, 2023, vol. 25, issue 63, 345

Abstract: The study examines the contribution of low-carbon and fossil electricity sources to environmental degradation in the European Union countries, modelled by economic development and globalisation. We ensure the robustness of the results by exploring the concurrent and individual effects of the alternative electricity sources on GHG emissions. Consistent GMM estimators indicate that all low-carbon sources have a mitigating effect on environmental degradation in the EU, in a context of persistent pollution fuelled by fossil-fuels-based electricity. Hydropower and wind emerge as the most efficient electricity generation sources in the fight against climate change. Countries’ development level, globalisation and population were not found to significantly impact pollution in EU countries. Our results have important implications for energy policy, suggesting that replacing fossil fuels in electricity generation with low-carbon sources, in particular wind and hydro, is a beneficial path to achieve decarbonisation while also decreasing the EU’s reliance on foreign oil and gas.

Keywords: Energy policy; European Union; decarbonisation; low-carbon electricity; renewable energy; system-GMM. (search for similar items in EconPapers)
JEL-codes: C23 O13 Q56 Q58 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:aes:amfeco:v:25:y:2023:i:63:p:345

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