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An Economic Perspective on Green Energy Market in Romania

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  • Ionica Oncioiu
  • Alina Stanciu

Abstract

Producing energy from renewable sources represents an essential component of energy policies at a national level and it leads to important savings of fossil fuel and primary energy. This article investigates the development of renewable energy in terms of energy production and consumption, on the one hand, and on the other hand, it presents a model to forecast the region's evolution of renewable energy diffusion (up to three years). Statistics proved that Romanian consumers have a key role in developing the green energy market, but it is also very important to ensure the ability of renewable energy suppliers to accommodate to this demand. Sample data and econometric regression analysis were applied to delineate factors influencing Romanian consumers’ awareness about renewable energy. The research findings from this regression analysis highlight a strongly connection between those who bear the cost of renewable energy development and the actual beneficiaries of a clean environment to identify the major drivers and barriers for renewable energy diffusion in Romania. The results of this forecast regions analysis of renewable energy could be used for further research in the area of implementing renewable energy projects for the urban development of the regions.

Suggested Citation

  • Ionica Oncioiu & Alina Stanciu, 2017. "An Economic Perspective on Green Energy Market in Romania," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 3(3), pages 102-105, September.
    • Handle: RePEc:khe:scajes:v:3:y:2017:i:3:p:102-105
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    References listed on IDEAS

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    More about this item

    Keywords

    Renewable energy; clean environment; green energy market;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources

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