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Основные ценовые и неценовые факторы развития возобновляемых источников энергии в странах Евросоюза
Introduction. The article examines the main price and non-price factors of renewable energy development in the EU countries at the present stage. The study of RE is significant within the global climate agenda due to the importance of environmental protection, EU countries are at the forefront of RE implementation. Consequently, the relevance and understudied nature of the topic creates the need for the implementation of this paper. The purpose of the study is to identify the main price and non-price factors that ensure the development of renewable energy in the EU countries. The hypothesis of the study is that the volatility of carbon prices and EU imports of traditional energy sources from Russia is the main factor in the development of renewable energy in the EU countries.
Materials and Methods. To study this issue, in this paper, possible influence factors have been identified according to the PESTEL methodology. Factors were collected through expert assessment of current trends from open sources. The selected factors were used to construct a semi-logarithmic linear regression estimating the dependence of the share of RES used by the EU country on the selected factors within 2019–2023.
Results. According to the constructed model, the level of corruption, the green growth index, the dummy variable illustrating the existence of a national legal framework in the field of green energy, and the amount of greenhouse gas emissions per capita are significant at the 1 % level of significance; the number of green bonds issued by the country – at the 5 % level; the price of carbon, government spending on R&D, are significant at 10 % significance level; other variables are not significant.
Discussion and Conclusion. The hypothesis of the study is partially confirmed – carbon prices are a significant factor, but not the key one, while the volatility of EU imports of traditional energy sources from Russia is not significant within the framework of the model. The development of national legislation in the field of renewable energy, the financing of scientific projects, the development of a green agenda in civil society with a low level of corruption will provide solid ground for the development of renewable energy technologies in the EU countries. The results of the study can be used by Russian government agencies developing a strategy for the use of renewable energy, analytical centers and research institutes studying the development of renewable energy in the EU, as well as government and research organizations considering the integration of the EU and the EAEU.