Innovative Development of Renewable Energy During the Crisis Period and Its Impact on the Environment

Nataliia Gavkalova (), Yuliia Lola (), Svitlana Prokopovych (), Oleksandr Akimov (), Vainius Smalskys () and Liudmyla Akimova ()
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Nataliia Gavkalova: Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine
Yuliia Lola: Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine
Svitlana Prokopovych: Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine
Oleksandr Akimov: Shupyk National Healthcare University of Ukraine, Kyiv, Ukraine
Vainius Smalskys: Mykolas Romeris University, Vilnius, Lithuania
Liudmyla Akimova: National University of Water and Environmental Engineering, Rivne, Ukraine

Virtual Economics, 2022, vol. 5, issue 1, 65-77

Abstract: The article examines the innovative trends in the renewable power generation, taking into account the impact of crises, as well as the impact of renewable energy on air pollution in the world (environmental change). Hierarchical agglomerative and iterative methods of cluster analysis, as well as econometric models were used to test the hypotheses. Carbon dioxide emissions and renewable power generation for 78 countries during 2000-2020 are taken into account as the database of the study. The results showed that there are groups of countries with sharp, high, moderate and low growth rates of renewable power generation. In addition, the results of econometric analysis indicate that the growth of renewable power generation does not always cause a decrease in carbon dioxide emissions. For a number of countries (Australia, Canada, Mexico, Poland) such connection is not essential at all. The results of the study can be useful in shaping and adapting environmental strategies around the world.

Keywords: Carbon dioxide emissions; renewable power generation; innovative development; crises period (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:aid:journl:v:5:y:2022:i:1:p:65-77

DOI: 10.34021/ve.2022.05.01(4)

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