THE NEXUS BETWEEN RENEWABLE ENERGY AND SUSTAINABLE DEVELOPMENT: A PANEL DATA ANALYSİS FOR SELECTED EU COUNTRIES

Özet

Provision of efficiency in energy use has a reputation that cannot be ignored in terms of sustainable development. When the depletion of natural energy resources is assessed on the axis of sustainable development, it requires both efficient use of existing natural resources and tending to renewable energy sources. Due to the high cost of renewable energy investments, it can be said that the relevant investments throughout Europe are not at the desired level. When one looks at the sustainability of growth, one of the most important variables in the forefront is the carbon emission levels in the countries concerned. In 2014, greenhouse gas emissions in the EU-28 were down by 22.9 % compared with 1990 levels, representing an absolute reduction of 1 136 million tonnes of CO2-equivalents, putting the EU on track to surpass its 2020 target, which is to reduce GHG emissions by 20 % by 2020 and by 40 % by 2030 compared with 1990.
The literature on energy economics includes a number of studies highlighting the linkages between the use of renewable energy sources and sustainable development. In this study, the relationship between greenhouse gas emissions consumption of renewable electricity energy and growth performance will be addressed in terms of sustainability in selected EU countries (Czech Republic, Slovakia, Slovenia, Poland, Hungary, Malta, Cyprus, Latvia, Lithuania and Estonia). In this framework, a panel data analysis help will be tried to reveal related relationships