Macroeconomic Indicators Used to Study the Efficiency of Investments in Renewable Energy Field

This paper aims to analyze the main indicators used to express the efficiency of renewable energy investments at macroeconomic level. Based on three econometric models, we present the calculation method of these indicators, along with interpretation. In the study are included countries with very high and high human development, member states of the European Union. Results indicate that all countries have a good economic efficiency of investments in renewable energy, but low social efficiency. As for the environmental efficiency of renewable investments, the findings reveal that only six European countries manage to direct their efforts to mitigate carbon dioxide emissions and in this way to have a high environmental efficiency of investments.

[1]  P. Starr.  Economics : principles in action , 1978 .

[2]  A. o'sullivan.  Economics Principles in Action , 2001 .

[3]  Chapter 20 , 2003 .

[4]  Estimating Indexes of Coincident and Leading Indicators , 2003 .

[5]  Keith Openshaw,et al.  Biomass energy: employment generation and its contribution to poverty alleviation. , 2010 .

[6]  G. Tsilingiridis,et al.  Reduction of air pollutant emissions using renewable energy sources for power generation in Cyprus , 2011 .

[7]  Emmanouil Hatzigeorgiou,et al.  CO2 emissions, GDP and energy intensity: A multivariate cointegration and causality analysis for Greece, 1977–2007 , 2011 .

[8]  Claudia Sheinbaum,et al.  Energy consumption and related CO2 emissions in five Latin American countries: Changes from 1990 to 2006 and perspectives. , 2011 .

[9]  Stephan Popp,et al.  The energy consumption - real GDP nexus revisited : empirical evidence from 93 countries , 2012 .

[10]  I. B. Fridleifsson,et al.  Potential contribution of geothermal energy to climate change adaptation: A case study of the arid and semi-arid eastern Baringo lowlands, Kenya , 2012 .

[11]  Can declining energy intensity mitigate climate change? Decomposition and meta-regression results , 2012 .

[12]  Sunday Olayinka Oyedepo,et al.  On energy for sustainable development in Nigeria , 2012 .

[13]  Investments in Renewable energies: evidence from a panel of countries , 2012 .

[14]  Chaido Dritsaki,et al.  A Multivariate Cointegration and Causality Analysis for Greece , 2014 .