| Title | The Role Of Solar Energy In Decarbonization - Evidence Of The European Union |
|---|---|
| ID_Doc | 63735 |
| Authors | Fajdetic, B; Festic, M |
| Title | The Role Of Solar Energy In Decarbonization - Evidence Of The European Union |
| Year | 2022 |
| Published | |
| Abstract | Decarbonization is a global process that is firmly rooted in the European Union. Within this framework, the European Union has developed the Green Deal, a strategy that aims to create a carbon-neutral continent by 2050. To achieve this ambitious goal, cleaner energy sources and new methods of energy production must be used Therefore, each EU member state must align its energy strategies with the EU Green Deal. Two important pillars of successful decarbonization are renewable energy sources and energy efficiency. Although the potential of renewable energy is not yet fully exploited, the future of the energy sector will definitely depend on renewable energy. Therefore, this paper aims to explore the relationship between the use of renewable energy in power generation and its role in mitigating greenhouse gas (GHG) emissions. More specifically, the role of solar energy infrastructure, solar energy deployment in electricity generation, and GHG emissions for EU member states are examined The country's GDP per capita is included in the study as an indicator of economic development. The panel data analysis is conducted for EU member states in the period from 2010 to 2020, and the statistical data on solar energy, greenhouse gas emissions and electricity from renewable sources are presented It is expected that the better the renewable energy infrastructure is developed, the lower the GHG emissions will be. In addition, the more photovoltaic systems are used to generate electricity, the lower the GHG emissions. Finally, we expect economic development to have a positive impact on reducing GHG emissions. |
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