Implications of Public Finances Sustainability on the Consumption of Renewable Energy in EU Countries

Authors

  • Anca Florentina Vatamanu Alexandru Ioan Cuza University of Iasi
  • Elena Cigu Alexandru Ioan Cuza University of Iasi

Keywords:

renewable energy; public finances; sustenability; economic growth

Abstract

The study analyses the implication of governments in providing financial support for the growth of the renewable energy sector, reveals some aspects of novelty, by analysing the relationship between the specific framework of sustainable public finances, the spectrum of fiscal measures capable of influencing renewable energy consumption and explore the fiscal-budgetary incentives to support the transition to renewable energy consumption. The paper generates awareness for policymakers and retrospective analysis the status of public grants and development funding as well as provides insights to improve financial support for renewable energy without increasing the number of public funds.

Author Biographies

Anca Florentina Vatamanu, Alexandru Ioan Cuza University of Iasi

Faculty of Economics and Business Administration

Elena Cigu, Alexandru Ioan Cuza University of Iasi

Faculty of Economics and Business Administration

References

• Abolhosseini, S., Heshmati, A. (2014). The main support mechanisms to finance renewable energy development, Renewable and Sustainable Energy Reviews 40, pp. 876–885, http://dx.doi.org/10.1016/j.rser.2014.08.013

• Cowell, F.A., (2011). Measuring inequality, 3rd ed.. LSE Perspectives in Economic Analysis, Oxford University Press, New York.

• Directive 2009/28/EC of the European Parliament and of the Council of 23 April 2009 on the promotion of the use of energy from renewable sources and amending and subsequently repealing Directives 2001/77/EC and 2003/30/EC (Text with EEA relevance), OJ L 140, 5.6.2009, p. 16–62, link: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32009L0028&from=EN

• European Commission (2019). European Green Deal (COM(2019) 640 final), link: https://eur-lex.europa.eu/legal-content/EN/TXT/DOC/?uri=CELEX:52019DC0640&from=EN

• European Commission (2022). Renewable energy statistics, link: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Renewable_energy_statistics

• Kowalik, P. (2015). Horizontal fiscal imbalance in Germany. Business and Economic Horizons, 11(1): 1-13, DOI: http://dx.doi.org/10.15208/beh.2015.01.

• Government of Iceland (2022). Energy, link: https://www.government.is/topics/business-and-industry/energy/

• Toke, D. (2007), Renewable financial support systems and cost-effectiveness, Journal of Cleaner Production 15, pp. 280-287 , doi:10.1016/j.jclepro.2006.02.005

• World Bank (2022a). Database, link: https://data.worldbank.org/indicator/EG.FEC.RNEW.ZS?view=chart

• World Bank (2022b). Financing renewable energy. Options for Developing Financing Instruments Using Public Funds, link: https://documents1.worldbank.org/curated/en/196071468331818432/pdf/765560WP0Finan00Box374373B00PUBLIC0.pdf

Downloads

Published

2022-07-06

Issue

Section

Economic Development, Technological Change, and Growth