Abstract
The article presents an analysis of the statistical relationship between the determinants of and barriers to the development of renewable energy sources (RESs) in the macroeconomic system and the development of renewable energy source consumption in individual European Union countries. The article considers four key categories of RES development barriers in the European Union: political, administrative, grid infrastructural, and socioeconomic. The work is based on publicly available historical data from European Union reports, Eurostat, and the Eclareon RES Policy Monitoring Database. The empirical analysis includes all 27 countries belonging to the European Union. The research aimed to determine the impact of all four types of factors, including socioeconomic, on the development of RESs in European Union countries. The analysis uncovered that describing the European Union as a consistent region regarding the speed of renewable energy advancement and the obstacles to such progress is not accurate. Notably, a significant link exists between a strong degree of societal development and the integration of renewable energy sources. In less prosperous EU nations, economic growth plays a pivotal role in renewable energy development. Barriers of an administrative nature exert a notable influence on renewable energy development, especially in less affluent EU countries, while grid-related obstacles are prevalent in Southern–Central Europe. In nations where the proportion of renewable energy sources in electricity consumption is substantial, an excess of capacity in the renewable energy market significantly affects its growth.
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