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HOW DOES RENEWABLE ENERGY IMPACT CARBON EMISSIONS? AN EU LEVEL ANALYSIS

Cristian Busu and Mihail Busu

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2017, vol. 11, issue 1, 502-510

Abstract: Carbon emission recently becomes one of the most important issues for our society. The interest of the researchers in the field is primarily due to factors that have a big impact in reducing the carbon emission levels. In this paper the authors employ a time series cross sectional multiple linear regression analysis with panel data to examine the relationship between economic growth, renewable energy consumption, urbanization and total population, and its impact on total carbon dioxide emission. Our findings indicate that the level of urbanization has the largest negative effect on carbon emissions, while the renewable energy consumption has a positive and direct impact on the reduction of the carbon dioxide emission. Also, levels of urbanization and population growth have also negative and significant impact on the high levels of carbon dioxide emissions. These findings suggest that public policy should be directed towards increasing the use of renewable energy in EU Countries, while level of urbanization and population growth should come with more restriction regarding the carbon dioxide emission.

Keywords: carbon dioxide emission; renewable energy; multiple linear regression; panel analysis; ANOVA model (search for similar items in EconPapers)
Date: 2017
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