Assessment of the Renewable Energy Sector Performance Using Selected Indicators in European Union Countries

Dominika Čeryová, Tatiana Bullová, Natália Turčeková, Izabela Adamičková, Danka Moravčíková and Peter Bielik
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Dominika Čeryová: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, 949 76 Nitra, Slovakia
Tatiana Bullová: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, 949 76 Nitra, Slovakia
Natália Turčeková: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, 949 76 Nitra, Slovakia
Izabela Adamičková: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, 949 76 Nitra, Slovakia
Danka Moravčíková: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, 949 76 Nitra, Slovakia
Peter Bielik: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, 949 76 Nitra, Slovakia

Resources, 2020, vol. 9, issue 9, 1-15

Abstract: Renewable energy is the key pillar and plays an important role in the energy systems of European Union member states and in mitigating climate change. It is supporting the transition towards a greener, resource-efficient and more competitive, low-carbon European Union economy. Above-average, average and below-average values of monitored indicators in member states of the European Union in 2009–2016 were ascertained by using principal component analysis. Monitored indicators of the renewable energy sector included electricity generation, electricity capacity, investments of public financial institutions, number of employees and turnover achieved from the economic activities related to production, distribution, installation, operation and maintenance of equipment (all of them per capita). Based on the achieved results, we can state that the situation changed during the period under review. Member states have moved between above-average, average and below-average levels of renewable energy indicators. However, a lack of change in the indicators was recorded in some member states throughout the eight-year period (Finland, France, Ireland, Germany, Austria and Spain did not move significantly). Renewable energy sources (hydro, wind, solar, geothermal and energy from biomass) were evaluated as a whole due to different natural, economic and legislative conditions of European Union countries.

Keywords: electricity capacity; electricity generation; employees; principal component analysis; public investments; turnover (search for similar items in EconPapers)
JEL-codes: Q1 Q2 Q3 Q4 Q5 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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