IDEAS home Printed from https://ideas.repec.org/a/vrs/manmar/v18y2023is1p384-397n6.html
   My bibliography  Save this article

Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition

Author

Listed:
  • Stancu Stelian

    (1 Bucharest University of Economic Studies, Bucharest, Romania, ; Centre for Industrial and Services Economics, Romanian Academy, Bucharest, Romania)

  • Pernici Andreea

    (2 Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

In the current context, the focus on optimizing energy distribution is intensified by high-impact events such as resource scarcity, import dependence, war, inflation, or environmental threats. As a consequence, international agencies have built extensive policies and targets that will reflect directly into the general energy distribution. One of the most crucial would be the 65% share of electricity that is bound to be generated from renewables until 2030. To study the feasibility of that goal, we will analyze the evolution of the energy mix worldwide in the last two decades, identifying the shift towards alternative energy sources, while also pinpointing the agents of change in terms of the low-carbon transition. The methodology will consist of a bootstrap clustering algorithm that has been computed for 3 moments: 2000, 2010, and 2020, generating clear differences in terms of energy distribution. In the second part of the paper, we have employed an ARIMA model that aims to predict the share of renewable energy by 2030, with the worrying conclusion that if the current rhythm continues, the goal will not be met and the climate could face severe consequences. Therefore, the paper significantly contributes to the methodological void in terms of bootstrap clustering applicability, while also illustrating a complete energy picture from a geographical and time perspective.

Suggested Citation

  • Stancu Stelian & Pernici Andreea, 2023. "Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition," Management & Marketing, Sciendo, vol. 18(s1), pages 384-397, December.
    • Handle: RePEc:vrs:manmar:v:18:y:2023:i:s1:p:384-397:n:6
    DOI: 10.2478/mmcks-2023-0020
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/mmcks-2023-0020
    Download Restriction: no
    File URL: https://libkey.io/10.2478/mmcks-2023-0020?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. Kibria, Ahsan & Akhundjanov, Sherzod B. & Oladi, Reza, 2019. "Fossil fuel share in the energy mix and economic growth," International Review of Economics & Finance, Elsevier, vol. 59(C), pages 253-264.
    2. Stefan Ambec & Claude Crampes, 2019. "Decarbonizing Electricity Generation with Intermittent Sources of Energy," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 6(6), pages 1105-1134.
    3. Elżbieta Kacperska & Katarzyna Łukasiewicz & Piotr Pietrzak, 2021. "Use of Renewable Energy Sources in the European Union and the Visegrad Group Countries—Results of Cluster Analysis," Energies, MDPI, vol. 14(18), pages 1-17, September.
    4. Vidal-Amaro, Juan José & Østergaard, Poul Alberg & Sheinbaum-Pardo, Claudia, 2015. "Optimal energy mix for transitioning from fossil fuels to renewable energy sources – The case of the Mexican electricity system," Applied Energy, Elsevier, vol. 150(C), pages 80-96.
    5. Díaz, Antonia & Marrero, Gustavo A. & Puch, Luis A. & Rodríguez, Jesús, 2019. "Economic growth, energy intensity and the energy mix," Energy Economics, Elsevier, vol. 81(C), pages 1056-1077.
    6. Roux, Charlotte & Schalbart, Patrick & Assoumou, Edi & Peuportier, Bruno, 2016. "Integrating climate change and energy mix scenarios in LCA of buildings and districts," Applied Energy, Elsevier, vol. 184(C), pages 619-629.
    7. Md Mijanur Rahman & Mohammad Shakeri & Sieh Kiong Tiong & Fatema Khatun & Nowshad Amin & Jagadeesh Pasupuleti & Mohammad Kamrul Hasan, 2021. "Prospective Methodologies in Hybrid Renewable Energy Systems for Energy Prediction Using Artificial Neural Networks," Sustainability, MDPI, vol. 13(4), pages 1-28, February.
    8. Hennig, Christian, 2007. "Cluster-wise assessment of cluster stability," Computational Statistics & Data Analysis, Elsevier, vol. 52(1), pages 258-271, September.
    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. Rüdisüli, Martin & Romano, Elliot & Eggimann, Sven & Patel, Martin K., 2022. "Decarbonization strategies for Switzerland considering embedded greenhouse gas emissions in electricity imports," Energy Policy, Elsevier, vol. 162(C).
    2. Carsten Helm & Mathias Mier, 2020. "Steering the Energy Transition in a World of Intermittent Electricity Supply: Optimal Subsidies and Taxes for Renewables Storage," ifo Working Paper Series 330, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    3. Østergaard, P.A. & Lund, H. & Thellufsen, J.Z. & Sorknæs, P. & Mathiesen, B.V., 2022. "Review and validation of EnergyPLAN," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    4. Yang, Yuting, 2022. "Electricity interconnection with intermittent renewables," Journal of Environmental Economics and Management, Elsevier, vol. 113(C).
    5. Miguel-Angel Perea-Moreno & Quetzalcoatl Hernandez-Escobedo & Fernando Rueda-Martinez & Alberto-Jesus Perea-Moreno, 2020. "Zapote Seed ( Pouteria mammosa L. ) Valorization for Thermal Energy Generation in Tropical Climates," Sustainability, MDPI, vol. 12(10), pages 1-21, May.
    6. Koltsaklis, Nikolaos E. & Nazos, Konstantinos, 2017. "A stochastic MILP energy planning model incorporating power market dynamics," Applied Energy, Elsevier, vol. 205(C), pages 1364-1383.
    7. Liu, Weiwei & Song, Yifan & Bi, Kexin, 2021. "Exploring the patent collaboration network of China's wind energy industry: A study based on patent data from CNIPA," Renewable and Sustainable Energy Reviews, Elsevier, vol. 144(C).
    8. Antweiler, Werner & Muesgens, Felix, 2024. "The new merit order: The viability of energy-only electricity markets with only intermittent renewable energy sources and grid-scale storage," Ruhr Economic Papers 1064, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    9. Fabre, Adrien & Fodha, Mouez & Ricci, Francesco, 2020. "Mineral resources for renewable energy: Optimal timing of energy production," Resource and Energy Economics, Elsevier, vol. 59(C).
    10. Ebers Broughel, Anna, 2019. "On the ground in sunny Mexico: A case study of consumer perceptions and willingness to pay for solar-powered devices," World Development Perspectives, Elsevier, vol. 15(C), pages 1-1.
    11. Helm, Carsten & Mier, Mathias, 2021. "Steering the energy transition in a world of intermittent electricity supply: Optimal subsidies and taxes for renewables and storage," Journal of Environmental Economics and Management, Elsevier, vol. 109(C).
    12. Cheng, Yi & Azizipanah-Abarghooee, Rasoul & Azizi, Sadegh & Ding, Lei & Terzija, Vladimir, 2020. "Smart frequency control in low inertia energy systems based on frequency response techniques: A review," Applied Energy, Elsevier, vol. 279(C).
    13. Michele Fioretti & Jorge Tamayo, 2021. "Saving for a Dry Day: Coal, Dams, and the Energy Transition," Working Papers hal-03389152, HAL.
    14. Talaat, M. & Farahat, M.A. & Elkholy, M.H., 2019. "Renewable power integration: Experimental and simulation study to investigate the ability of integrating wave, solar and wind energies," Energy, Elsevier, vol. 170(C), pages 668-682.
    15. Yang, Yuting, 2020. "Electricity Interconnection with Intermittent Renewables," TSE Working Papers 20-1075, Toulouse School of Economics (TSE).
    16. Muhammad Shafiullah & Zhilun Jiao & Muhammad Shahbaz & Kangyin Dong, 2023. "Examining energy poverty in Chinese households: An Engel curve approach," Australian Economic Papers, Wiley Blackwell, vol. 62(1), pages 149-184, March.
    17. Guangying Jin & Wei Feng & Qingpu Meng, 2022. "Prediction of Waterway Cargo Transportation Volume to Support Maritime Transportation Systems Based on GA-BP Neural Network Optimization," Sustainability, MDPI, vol. 14(21), pages 1-24, October.
    18. Iwona Bąk & Anna Spoz & Magdalena Zioło & Marek Dylewski, 2021. "Dynamic Analysis of the Similarity of Objects in Research on the Use of Renewable Energy Resources in European Union Countries," Energies, MDPI, vol. 14(13), pages 1-24, July.
    19. Zhang, M.M. & Wang, Qunwei & Zhou, Dequn & Ding, H., 2019. "Evaluating uncertain investment decisions in low-carbon transition toward renewable energy," Applied Energy, Elsevier, vol. 240(C), pages 1049-1060.
    20. Ana Alina Tudoran, 2022. "A machine learning approach to identifying decision-making styles for managing customer relationships," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(1), pages 351-374, March.

    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:vrs:manmar:v:18:y:2023:i:s1:p:384-397:n:6. 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: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    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.