Abstract
Energy efficiency is one of the main dynamics of sustainable development. As energy is used efficiently, the energy need for economic growth will be reduced, and the costs of energy sources will be reduced. In this context, nuclear and renewable energy are compared in terms of energy efficiency. The data of the energy efficiency index of 13 countries and the data on nuclear energy and renewable energy consumption over the years 1995-2016 and the DOLS and FMOLS tests are performed. As a result of the analysis, it is determined that there is a long-term relationship between the variables and that both energy sources have a positive effect on energy efficiency, but renewable energy is more advantageous than nuclear energy in terms of energy efficiency.Keywords: Nuclear Energy, Renewable Energy, Energy efficiency, CointegrationJEL Classifications: C33, O13, Q42, Q47DOI: https://doi.org/10.32479/ijeep.7866
Highlights
One of the main dynamics1 of sustainable economic growth and development for countries involves having sufficient energy sources
This study aims to compare nuclear energy consumption and renewable energy consumption in terms of energy efficiency via econometric methods
Renewable energy consumption, and energy efficiency index data are analyzed in the natural logarithm
Summary
One of the main dynamics of sustainable economic growth and development for countries involves having sufficient energy sources. In Dong et al (2018) conducted on China, the impacts of renewable energy, and nuclear energy consumptions on carbon emissions were tested comparatively Contrary to the former studies, it was stated that the reduction impact of nuclear energy consumption on carbon emissions was lower than that of renewable energy. Ozturk (2017) examines the impact of alternative and nuclear energyconsumption (NE), fossil fuel energy consumption (FFUEL), carbon dioxide emissions (CO2) and oil rent (OILRENT) on economic growth (GDPPC) and foreign direct investment (FDI) in the panel of nine Latin American countries, for the period of 1975-2013. In the study of Cebulla and Jacobson (2018), who drew different conclusions, simulation of the possible advantages and disadvantages in terms of cost and carbon emissions in the coming years was performed in case of the replacement of nuclear energy sources with renewable energy sources such as wind turbines. This study aims to compare nuclear energy consumption and renewable energy consumption in terms of energy efficiency via econometric methods
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