Abstract
Renewable energy sources play a key role in decarbonizing the economy of the European Union (EU) and the world. The aim of this research is to present the development of the renewable energy sources (RES) sector in the European Union (EU), with particular emphasis on sustainable development. The EU guidelines, requirements, and directives were analyzed in order to meet the provisions of the energy policy to ensure energy and climate security. The potential of the RES was studied in the EU countries, and the possibility of its use in cogeneration with the use of local renewable resources. The results are presented in tabular, graphic, and descriptive forms. The results are presented based on the extensive literature on the subject and data from Eurostat. The data covered 2004–2019. We used different methods to evaluate the changes in the RES in the EU countries. First, we compiled descriptive statistics; second, we used the Augmented Dickey–Fuller test (ADF test); and, finally, we used the Generalized Autoregressive Conditional Heteroscedasticity model (GARCH model). Our analysis found that the EU increased the share of RES. The biggest share of energy from renewable energy sources was found in 2019 in Iceland (78%), Norway (74%), and Sweden (56%). The biggest increase in the share of RES in 2004–19 was found in Malta (8322%), Great Britain (1126%), and Luxemburg (784%). The results demonstrate the development of RES in the EU countries. However, not all countries achieved the planned goal in 2019.
Highlights
Total global energy consumption has been increasing
The aim of the article is to present the idea of the development of the renewable energy sector in Europe in relation to sustainable development
The assumption made was to reduce the annual greenhouse gas emissions by at least 20%, and to reduce energy consumption by 20% in 2020 compared to 1990
Summary
Total global energy consumption has been increasing. The consumption of total market energy will increase from 2012 to 40 by 48% [1,2]. The basic directions of European energy policy are: improve energy efficiency; increase the security of fuel and energy supplies; diversify the electricity generation structure, including by introducing nuclear energy; develop the use of renewable energy sources, including biofuels; develop competitive fuel and energy markets; reduce the impact of the energy sector on the environment [6]; use its own energy resources optimally; expand electricity generation and grid infrastructure; diversify natural gas and crude oil supplies; expand the network infrastructure; and develop heating and cogeneration capacity [7]
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