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Policy-induced expansion of solar and wind power capacity: economic growth and employment in EU countries
Umeå University, Faculty of Social Sciences, Center for Environmental and Resource Economics (CERE). Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
Umeå University, Faculty of Social Sciences, Center for Environmental and Resource Economics (CERE). Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
2017 (English)In: Energy Journal, ISSN 0195-6574, E-ISSN 1944-9089, Vol. 38, no 5Article in journal (Refereed) Published
Abstract [en]

Given the intensifying debates on whether governments should promote particular renewable energy technologies, the main objective of this study is to investigate the long-and short-run effects of policy-induced expansion of renewable solar and wind technologies on economic growth and employment in 15 European Union (EU) member states during 1990-2013 by using panel-data time-series econometric techniques. Instead of relying on renewable energy consumption or generation as commonly done in the literature, we focus on the capacity for solar and wind power generation, which is largely a consequence of the EU's renewable energy policies. In summary, we find that, to date, renewable energy policy-induced wind and solar power capacity promotes growth and/or employment in the short run, but these capacity increases do not stimulate economic growth in the long run in the EU-15 region. In fact, our results tend to support the opposite relationship: increases in wind and solar power capacity are associated with negative economic growth, at least at the total economy level.

Place, publisher, year, edition, pages
2017. Vol. 38, no 5
Keyword [en]
Economic growth, Employment, European Union, Granger causality, Panel cointegration, Policy, Renewable energy capacity, Solar energy, Wind energy
National Category
Economics
Identifiers
URN: urn:nbn:se:umu:diva-131723DOI: 10.5547/01956574.38.5.jjarOAI: oai:DiVA.org:umu-131723DiVA: diva2:1075506
Available from: 2017-02-20 Created: 2017-02-20 Last updated: 2017-04-06

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CiteExportLink to record
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Citation style
  • apa
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  • modern-language-association-8th-edition
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  • de-DE
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  • Other locale
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