Open AccessEvaluating the Effects of Economic and Financial Development on the Renewable Energy Consumption
Author(s) -
Polina I. Solovyeva,
Anastasia V. Ulitkina
Publication year - 2018
Publication title -
naučnye issledovaniâ èkonomičeskogo fakulʹteta
Language(s) - English
Resource type - Journals
ISSN - 2078-3809
DOI - 10.38050/2078-3809-2018-10-4-65-76
Subject(s) - renewable energy , consumption (sociology) , electricity , economics , natural resource economics , business , energy consumption , feed in tariff , environmental economics , energy policy , engineering , social science , sociology , electrical engineering
Nowadays renewable energy has become one of the key trends in the energy markets development strategy. The aim of this article is to analyze the impact of economic and financial development on the consumption of renewable electricity. We find that there is a certain set of economic and financial indicators that affects the amount of renewable electricity consumption, but final results depend on the surveyed group of countries. While estimating BRICS we find that there is a positive correlation between economic and financial development and the consumption of renewable electricity. The financial indicator of the share of liquid liabilities in GDP has the greatest impact on the renewable energy consumed.