Exploring the efficiency of new energy generation: Evidence from OECD and non-OECD countries

Abstract

In this study, we defined new energy generation inputs as the installed capacity of solar energy, wind power, geothermal energy and biofuel production, and we defined electricity from new energy as an output indicator. Based on panel data in OECD and non-OECD countries from 2007 to 2016, we used stochastic frontier analysis to calculate the efficiency of new energy generation and analyzed the influencing factors. We found the following results: the efficiency of global new energy generation is improving; the energy price, technological progress and education level have positive impacts on the efficiency of new energy generation; and industrial structure and opening up have a negative impact on the efficiency of new energy generation. Based on our study results, we offer some recommendations to promote the development of new energy generation.