Towards a greener future: Renewable energy and economic sustainability in Europe

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dc.contributor.authorUsman, Muhammad
dc.contributor.authorImran, Shahbaz
dc.contributor.authorAkbar, Ahsan
dc.contributor.authorSokolova, Marcela
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2025-09-03T08:44:53Z
dc.date.available2025-09-03T08:44:53Z
dc.description.abstractThe transition towards the use of renewable energy sources has been considered for a long time concerning their capabilities in promoting economic sustainability. Therefore, this study aims to examine the role of renewable energy in achieving economic sustainability in the European region. Empirical data was collected with the help of Eurostat to analyze the proposed relationship. Macro-level data from twenty-eight (28) European countries is collected, and the final dataset contains statistics between 2014 and 2023. Analyzing the findings of ordinary least squares and system GMM regression tests, as well as the different proxies of both renewable energy and economic sustainability, a positive relationship is found between renewable energy and economic sustainability. Moreover, increased availability of renewable energy (for instance, wind, solar, and the like) is regarded as a way of enhancing economic performance, creating more jobs, and saving the cost of energy. The outcomes also indicate that upgrading renewable energy infrastructure improves economic growth, promotes innovation, and stabilizes the economy’s growth in the long run. This study adds to the current discourse on the efficiency of renewable energy and opens up a new area of research for scholars and policymakers.en
dc.formattext
dc.identifier.doi10.15240/tul/001/2025-5-020
dc.identifier.eissn2336-5604
dc.identifier.issn1212-3609
dc.identifier.urihttps://dspace.tul.cz/handle/15240/177924
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
dc.relation.ispartofEkonomie a Managementcs
dc.relation.ispartofEconomics and Managementen
dc.relation.isrefereedtrue
dc.rightsCC BY-NC
dc.subjectRenewable energyen
dc.subjecteconomic sustainabilityen
dc.subjectEuropean Unionen
dc.subject.classificationQ01
dc.subject.classificationQ20
dc.subject.classificationQ42
dc.subject.classificationQ43
dc.subject.classificationO44
dc.titleTowards a greener future: Renewable energy and economic sustainability in Europeen
dc.typeArticleen
local.accessopen
local.citation.epage143
local.citation.spage128
local.facultyFaculty of Economics
local.filenameEM_3_2025_8
local.fulltextyes
local.relation.abbreviationE+Mcs
local.relation.abbreviationE&Men
local.relation.issue3
local.relation.volume28
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