Analysis and modeling of innovation factors to replace fossil fuels with renewable energy sources - Evidence from European Union enterprises

Maciej Zastempowski

Renewable and Sustainable Energy Reviews, 2023, vol. 178, issue C

Abstract: In previous years, much research has been carried out to specify eco-innovations determinants. In most studies, eco-innovation was analyzed at a general level. From the perspective of climate change and the aim of achieving the Sustainable Development Goals and the European Green Deal objectives, the issue of innovations that replace the share of fossil fuel energy with renewable energy sources in the European Union appears to be particularly important. Therefore, this paper has two purposes. First, using a systematic literature review, it examines the key factors driving decisions taken by European Union enterprises to create innovations with environmental benefits. Second, it estimates the impact of these factors on introducing innovations that replace the share of fossil fuel energy with renewable energy sources. Specifically, using the logistic regression model, it analyses microdata from thirteen European Union Member States collected during the 2014 Community Innovation Survey. The effects show that six out of seven drivers under assessment positively affect the introduction of innovations that replace fossil fuel energy with renewable energy sources. These are (1) the high cost of energy, water, or materials, (2) environmental regulations or taxes expected in the future, (3) existing environmental taxes, charges, or fees, (4) government grants, subsidies, or other financial incentives for environmental innovations, (5) current or expected market demand for environmental innovations, and (6) voluntary actions or initiatives for good environmental practice within a sector.

Keywords: Eco-innovation; Fossil energy; Renewable energy; Environmental impact; Regulations; Community Innovation Survey; Regression model (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1364032123001181
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:rensus:v:178:y:2023:i:c:s1364032123001181

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/bibliographic
http://www.elsevier. ... 600126/bibliographic

DOI: 10.1016/j.rser.2023.113262

Access Statistics for this article

Renewable and Sustainable Energy Reviews is currently edited by L. Kazmerski

More articles in Renewable and Sustainable Energy Reviews from Elsevier
Bibliographic data for series maintained by Catherine Liu ().