Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and Nigeria
The relationship between economic growth and renewable energy (RE) consumption has received enormous attention in the literature. However, there are diverse views about the causality and nature of this relationship. The paper investigates how RE consumption during power generation is affected by ec...
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| Format: | Article |
| Language: | English |
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National Research University Higher School of Economics
2018-12-01
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| Series: | Foresight and STI Governance |
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| Online Access: | https://foresight-journal.hse.ru/article/view/19354 |
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| author | Nurcan Kilinc Ata |
| author_facet | Nurcan Kilinc Ata |
| author_sort | Nurcan Kilinc Ata |
| collection | DOAJ |
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The relationship between economic growth and renewable energy (RE) consumption has received enormous attention in the literature. However, there are diverse views about the causality and nature of this relationship. The paper investigates how RE consumption during power generation is affected by economic growth and electricity prices using data from 1990 to 2012. This is conducted by using three case study countries (United Kingdom, Turkey, and Nigeria). Then, a prediction model is developed for the year 2030. The findings in this paper show that RE consumption, for the period under consideration, is significantly determined by income and electricity prices in the long run. These findings support the advantages of government policies encouraging the use of RE by implementing RE markets and RE portfolio standards to not only enhance the security and environmental concerns, but also from a macroeconomic point of view (stable economic growth).
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| format | Article |
| id | doaj-art-a3d0b1e514b74aa0bc35227f37eb266e |
| institution | OA Journals |
| issn | 2500-2597 |
| language | English |
| publishDate | 2018-12-01 |
| publisher | National Research University Higher School of Economics |
| record_format | Article |
| series | Foresight and STI Governance |
| spelling | doaj-art-a3d0b1e514b74aa0bc35227f37eb266e2025-08-20T02:35:41ZengNational Research University Higher School of EconomicsForesight and STI Governance2500-25972018-12-0112410.17323/2500-2597.2018.4.62.77Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and NigeriaNurcan Kilinc Ata0University of Stirling, Stirling FK9 4LA, UK The relationship between economic growth and renewable energy (RE) consumption has received enormous attention in the literature. However, there are diverse views about the causality and nature of this relationship. The paper investigates how RE consumption during power generation is affected by economic growth and electricity prices using data from 1990 to 2012. This is conducted by using three case study countries (United Kingdom, Turkey, and Nigeria). Then, a prediction model is developed for the year 2030. The findings in this paper show that RE consumption, for the period under consideration, is significantly determined by income and electricity prices in the long run. These findings support the advantages of government policies encouraging the use of RE by implementing RE markets and RE portfolio standards to not only enhance the security and environmental concerns, but also from a macroeconomic point of view (stable economic growth). https://foresight-journal.hse.ru/article/view/19354economic growthforecastingTurkeyenergy consumptionrenewable energyvector auto-regression |
| spellingShingle | Nurcan Kilinc Ata Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and Nigeria Foresight and STI Governance economic growth forecasting Turkey energy consumption renewable energy vector auto-regression |
| title | Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and Nigeria |
| title_full | Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and Nigeria |
| title_fullStr | Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and Nigeria |
| title_full_unstemmed | Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and Nigeria |
| title_short | Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and Nigeria |
| title_sort | assessing the future of renewable energy consumption for united kingdom turkey and nigeria |
| topic | economic growth forecasting Turkey energy consumption renewable energy vector auto-regression |
| url | https://foresight-journal.hse.ru/article/view/19354 |
| work_keys_str_mv | AT nurcankilincata assessingthefutureofrenewableenergyconsumptionforunitedkingdomturkeyandnigeria |