Does the Increase in Renewable Energy Influence GDP Growth? An EU-28 Analysis

Daniela Nicoleta Sahlian, Adriana Florina Popa and Raluca Florentina Creţu
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Daniela Nicoleta Sahlian: Department of Accounting and Audit, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Adriana Florina Popa: Department of Accounting and Audit, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Raluca Florentina Creţu: Department of Financial and Economic Analysis, Bucharest University of Economic Studies, 010374 Bucharest, Romania

Energies, 2021, vol. 14, issue 16, 1-16

Abstract: The aim of our study was to analyze whether the increase in the use of renewable energy can help GDP growth. The research carried out shows that renewable energy has the ability to decrease or neutralize the negative impact of greenhouse gases (GHG), but also to maintain economic growth. We focused our analysis on the EU-28 as we know that the EU Commission’s aim, in the near future, is to join forces to reduce the GHG used and move to renewable sources. We used a panel analysis with data between 2000 and 2019 from all Member States, and our results showed that their economic growth is influenced positively by the production of renewable energy, the GHG per capita, and the GHG intensity per GDP.

Keywords: renewable energy sources; economic growth; greenhouse gases; EU-28 (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (13)

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