IDEAS home Printed from https://ideas.repec.org/a/baq/jetart/v4y2024i13p31-43.html
   My bibliography  Save this article

Designing a toolset for assessing and implementing the potential of energy-saving economic development of enterprises

Author

Listed:
  • Valentyn Lesinskyi

    (Yuriy Fedkovych Chernivtsi National University)

  • Olexandr Yemelyanov

    (Lviv Polytechnic National University)

  • Oksana Zarytska

    (Lviv Polytechnic National University)

  • Tetyana Petrushka

    (Lviv Polytechnic National University)

  • Nataliia Myroshchenko

    (Lviv Polytechnic National University)

Abstract

The object of this study is the evaluation and implementation of the potential of energy-saving economic development of enterprises. The task to design an effective toolkit for evaluating and implementing the specified potential was resolved. The theoretical principles of formation and measurement of the level of energy-saving economic development of enterprises have been substantiated. A procedure for assessing the potential of energy-saving economic development of companies has been devised. This procedure involves determining the possibilities of enterprises to ensure simultaneous growth of economic results and the level of energy efficiency through the development and implementation of an optimal program of measures for such growth. The mechanism for implementing the potential of energy-saving economic development of enterprises on the basis of identifying and overcoming the main obstacles that appear on the way to such development has been improved. The proposed theoretical and methodological approaches to the assessment and implementation of the potential of energy-saving natural gas economic development of enterprises was verified on a sample of 110 enterprises in the western region of Ukraine. In particular, it was established that the estimated potential of energy-saving natural gas economic development of the studied enterprises is very high. In particular, for more than 50 % of enterprises in all three industries, the value of this potential exceeds 6 %. At the same time, enterprises with a higher level of energy-saving economic development in the reporting period were characterized by a smaller value of this potential at the end of that period. The toolkit proposed in this study could be used by enterprises of all types of economic activity when assessing the potential of their energy-saving economic development and when devising measures to implement the specified potential. This would help improve the economic efficiency of companies

Suggested Citation

  • Valentyn Lesinskyi & Olexandr Yemelyanov & Oksana Zarytska & Tetyana Petrushka & Nataliia Myroshchenko, 2024. "Designing a toolset for assessing and implementing the potential of energy-saving economic development of enterprises," Eastern-European Journal of Enterprise Technologies, PC TECHNOLOGY CENTER, vol. 4(13 (130)), pages 31-43, August.
  • Handle: RePEc:baq:jetart:v:4:y:2024:i:13:p:31-43
    DOI: 10.15587/1729-4061.2024.308986
    as

    Download full text from publisher

    File URL: https://journals.uran.ua/eejet/article/download/308986/301765
    Download Restriction: no

    File URL: https://libkey.io/10.15587/1729-4061.2024.308986?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Rafindadi, Abdulkadir Abdulrashid & Ozturk, Ilhan, 2015. "Natural gas consumption and economic growth nexus: Is the 10th Malaysian plan attainable within the limits of its resource?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 1221-1232.
    2. Federica Cucchiella & Idiano D’Adamo & Massimo Gastaldi, 2018. "Future Trajectories of Renewable Energy Consumption in the European Union," Resources, MDPI, vol. 7(1), pages 1-13, February.
    3. Chevallier, Julien, 2011. "Detecting instability in the volatility of carbon prices," Energy Economics, Elsevier, vol. 33(1), pages 99-110, January.
    4. Ayres, Robert U. & Turton, Hal & Casten, Tom, 2007. "Energy efficiency, sustainability and economic growth," Energy, Elsevier, vol. 32(5), pages 634-648.
    5. Bhattacharya, Mita & Paramati, Sudharshan Reddy & Ozturk, Ilhan & Bhattacharya, Sankar, 2016. "The effect of renewable energy consumption on economic growth: Evidence from top 38 countries," Applied Energy, Elsevier, vol. 162(C), pages 733-741.
    6. Hui, Jingxuan & Cai, Wenjia & Wang, Can & Ye, Minhua, 2017. "Analyzing the penetration barriers of clean generation technologies in China’s power sector using a multi-region optimization model," Applied Energy, Elsevier, vol. 185(P2), pages 1809-1820.
    7. Fadiran, Gideon & Adebusuyi, Adebisi T. & Fadiran, David, 2019. "Natural gas consumption and economic growth: Evidence from selected natural gas vehicle markets in Europe," Energy, Elsevier, vol. 169(C), pages 467-477.
    8. repec:dau:papers:123456789/5110 is not listed on IDEAS
    9. Koçak, Emrah & Şarkgüneşi, Aykut, 2017. "The renewable energy and economic growth nexus in Black Sea and Balkan countries," Energy Policy, Elsevier, vol. 100(C), pages 51-57.
    10. Özkara, Yücel & Atak, Mehmet, 2015. "Regional total-factor energy efficiency and electricity saving potential of manufacturing industry in Turkey," Energy, Elsevier, vol. 93(P1), pages 495-510.
    11. Mei Kay Loo & Sridar Ramachandran & Raja Nerina Raja Yusof, 2023. "Unleashing the potential: Enhancing technology adoption and innovation for micro, small and medium-sized enterprises (MSMEs)," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(2), pages 2267748-226, October.
    12. Radim Valencik & Jan Cervenka, 2016. "Analysis Tools of Connecting Investment Opportunities and Investment Means in the Area of Small and Medium-Sized Enterprises," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 130-139.
    13. Kangas, Hanna-Liisa & Lazarevic, David & Kivimaa, Paula, 2018. "Technical skills, disinterest and non-functional regulation: Barriers to building energy efficiency in Finland viewed by energy service companies," Energy Policy, Elsevier, vol. 114(C), pages 63-76.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Olexandr Yemelyanov & Anastasiya Symak & Tetyana Petrushka & Olena Vovk & Oksana Ivanytska & Dmytro Symak & Anatolii Havryliak & Taras Danylovych & Lilia Lesyk, 2021. "Criteria, Indicators, and Factors of the Sustainable Energy-Saving Economic Development: The Case of Natural Gas Consumption," Energies, MDPI, vol. 14(18), pages 1-27, September.
    2. Olexandr Yemelyanov & Anastasiya Symak & Tetyana Petrushka & Olena Zahoretska & Myroslava Kusiy & Roman Lesyk & Lilia Lesyk, 2019. "Changes in Energy Consumption, Economic Growth and Aspirations for Energy Independence: Sectoral Analysis of Uses of Natural Gas in Ukrainian Economy," Energies, MDPI, vol. 12(24), pages 1-34, December.
    3. Muntasir Murshed & Haider Mahmood & Tarek Tawfik Yousef Alkhateeb & Mohga Bassim, 2020. "The Impacts of Energy Consumption, Energy Prices and Energy Import-Dependency on Gross and Sectoral Value-Added in Sri Lanka," Energies, MDPI, vol. 13(24), pages 1-22, December.
    4. Hosein Mohammadi & Sayed Saghaian & Bahareh Zandi Dareh Gharibi, 2023. "Renewable and Non-Renewable Energy Consumption and Its Impact on Economic Growth," Sustainability, MDPI, vol. 15(4), pages 1-13, February.
    5. Mehmet Balcilar & Ojonugwa Usman & George N. Ike, 2023. "Investing green for sustainable development without ditching economic growth," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(2), pages 728-743, April.
    6. Victoria Oluwatoyin Foye & Oluwasegun Olawale Benjamin, 2021. "Natural gas consumption and economic performance in selected sub‐Saharan African countries: A heterogeneous panel ARDL analysis," African Development Review, African Development Bank, vol. 33(3), pages 518-532, September.
    7. Jiang, Hongdian & Dong, Xiucheng & Jiang, Qingzhe & Dong, Kangyin, 2020. "What drives China's natural gas consumption? Analysis of national and regional estimates," Energy Economics, Elsevier, vol. 87(C).
    8. Cheng, Zhonghua & Yu, Xuejin & Zhang, Yi, 2023. "Is the construction of new energy demonstration cities conducive to improvements in energy efficiency?," Energy, Elsevier, vol. 263(PA).
    9. Salva K K & Zareena Begum Irfan, 2024. "Adaptive Analysis of 3E Factors (Economy, Energy, and Environment) for Renewable Energy Generation in the South and South-East Asian Region," Working Papers 2024-269, Madras School of Economics,Chennai,India.
    10. Chang, Chiu-Lan & Fang, Ming, 2022. "Renewable energy-led growth hypothesis: New insights from BRICS and N-11 economies," Renewable Energy, Elsevier, vol. 188(C), pages 788-800.
    11. Mihail Busu & Gabriel Staicu & Mihai Gheorghe & Enrico Prinz & Luis Miguel Fonseca, 2024. "Analysing the Effects of the Business Cycle on Renewable Energy Consumption and Sustainable Development: Evidence from EU Countries," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 26(Special 1), pages 1048-1048, November.
    12. Narayan Parab & Ramashanti Naik & Y. V. Reddy, 2024. "Renewable energy, economic growth and sustainable development: A model development in the light of empirical insights," Natural Resources Forum, Blackwell Publishing, vol. 48(2), pages 572-593, May.
    13. Md. Samsul Alam & Sudharshan Reddy Paramati & Muhammad Shahbaz & Mita Bhattacharya, 2017. "Natural gas, trade and sustainable growth: empirical evidence from the top gas consumers of the developing world," Applied Economics, Taylor & Francis Journals, vol. 49(7), pages 635-649, February.
    14. Wang, Song & Yang, Canyu & Hou, Dailing & Dai, Liang, 2023. "How do urban agglomerations drive economic development? A policy implementation and spatial effects perspective," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1224-1238.
    15. Zhen Zeng & Xianzhong Mu, 2024. "Can the Development of Renewable Energy Improve Total-Factor Carbon Emissions Efficiency? Evidence from 30 Provinces in China," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 14(6), pages 1-16.
    16. Sanel Halilbegović & Zana Pekmez & Abdul Rehman, 2023. "Modeling the Nexus of Renewable and Non-Renewable Energy Consumption and Economic Progress in Southeastern Europe: A Panel Data Analysis," Sustainability, MDPI, vol. 15(12), pages 1-21, June.
    17. Qi, Shaozhou & Peng, Huarong & Zhang, Xiaoling & Tan, Xiujie, 2019. "Is energy efficiency of Belt and Road Initiative countries catching up or falling behind? Evidence from a panel quantile regression approach," Applied Energy, Elsevier, vol. 253(C), pages 1-1.
    18. Souleymane Diallo & Youmanli Ouoba, 2024. "Effect of renewable energy on economic growth in sub‐Saharan Africa: Role of institutional quality," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(4), pages 3455-3470, August.
    19. Salim Hamza Ringim & Abdulkareem Alhassan & Hasan Güngör & Festus Victor Bekun, 2022. "Economic Policy Uncertainty and Energy Prices: Empirical Evidence from Multivariate DCC-GARCH Models," Energies, MDPI, vol. 15(10), pages 1-18, May.
    20. Rafindadi, Abdulkadir Abdulrashid & Ozturk, Ilhan, 2017. "Impacts of renewable energy consumption on the German economic growth: Evidence from combined cointegration test," Renewable and Sustainable Energy Reviews, Elsevier, vol. 75(C), pages 1130-1141.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:baq:jetart:v:4:y:2024:i:13:p:31-43. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Iryna Prudius (email available below). General contact details of provider: https://journals.uran.ua/eejet/issue/archive .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.