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“Green Energy” and the Standard of Living of the EU Residents

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  • Mariusz Malinowski

    (Department of Economics, Faculty of Economics, Poznan University of Life Sciences, 60-639 Poznan, Poland)

Abstract

The author intended to present the relationship between the standard of living of EU citizens and the level of the development of renewable energy. It is particularly important in the context of the implementation of the sustainable development idea, by ensuring a high standard of living for both current and future generations, with rational use of available natural resources. The first, theoretical part of the article presents the problem related to the impact of renewable energy on the standard of living in a synthetic way. The second part involves empirical research conducted in all countries of the EU. To evaluate the level of renewable energy development and the standard of living, the author constructed original measures based on the TOPSIS method. Variables were selected on the basis of substantive, statistical and formal criteria (primarily the completeness and availability of data in 2019). Within the framework of the conducted study, the author obtained, among other things, a relatively high value of Spearman’s rank correlation coefficient between the constructed synthetic measures (0.47). Canonical analysis was used to identify the relationship between them. Numerous indicators, including canonical correlations, complete redundancy and extracted variances, were determined with the use of canonical analysis. Seven statistically significant canonical variables were identified. The value of the greatest and most statistically significant canonical correlation exceeded 0.94, and for the last statistically significant canonical variable, the value reached over 0.31. Statistical data were primarily obtained from the publicly available EUROSTAT database.

Suggested Citation

  • Mariusz Malinowski, 2021. "“Green Energy” and the Standard of Living of the EU Residents," Energies, MDPI, vol. 14(8), pages 1-35, April.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:8:p:2186-:d:535906
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    References listed on IDEAS

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