Research Article
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Year 2023, Volume: 23 Issue: 4, 617 - 626, 22.10.2023

Deniz Koçak Abdulkerim Çalışkan

https://doi.org/10.21121/eab.1335788

Abstract

References

  • Adebayo, T. S., Ullah, S., Kartal, M. T., Ali, K., Pata, U. K., & Ağa, M. (2023). Endorsing Sustainable Development in BRICS: The Role of Technological Innovation, Renewable Energy Consumption, and Natural Resources in Limiting Carbon Emission. Science of The Total Environment, 859, 160181. https://doi.org/10.1016/j.scitotenv.2022.160181
  • Aguirre, M., & Ibikunle, G. (2014). Determinants of Renewable Energy Growth: A Global Sample Analysis. Energy Policy, 69, 374-384.
  • Agyekum, E. B., Kumar, N. M., Mehmood, U., Panjwani, M. K., Alhelou, H. H., Adebayo, T. S., & Al-Hinai, A. (2021). Decarbonize Russia – A Best–Worst Method Approach for Assessing the Renewable Energy Potentials, Opportunities and Challenges. Energy Reports, 7, 4498-4515.
  • Allen, C., Metternicht, G., & Wiedmann, T. (2016). National Pathways to the Sustainable Development Goals (SDGs): A Comparative Review of Scenario Modelling Tools. Environmental Science & Policy, 66, 199-207.
  • Andreas, J. J., Burns, C., & Touza, J. (2018). Overcoming Energy İnjustice? Bulgaria’s Renewable Energy Transition in Times of Crisis. Energy Research & Social Science, 42, 44-52.
  • Bhat, A. A., & Mishra, P.P. (2018). The Kyoto Protocol and CO2 emission: Is India still hibernating? Indian Growth and Development Review, 11(2), 152-168.
  • Bhattacharya, M., Paramati, S. R., Ozturk, I., & Bhattacharya, S. (2016). The Effect of Renewable Energy Consumption on Economic Growth: Evidence from Top 38 Countries. Applied Energy, 162, 733-741.
  • Bianco, V., Proskuryakova, L., & Starodubtseva, A. (2021). Energy Inequality in the Eurasian Economic Union. Renewable and Sustainable Energy Reviews, 146, 111155. https://doi.org/10.1016/j.rser.2021.111155
  • Cantarero, M. M. V. (2020). Of Renewable Energy, Energy Democracy, and Sustainable Development: A Roadmap to Accelerate the Energy Transition in Developing Countries. Energy Research & Social Science, 70, 101716, 1-15. https://doi.org/10.1016/j.erss.2020.101716
  • Carfora, A., Pansini, R. V., & Scandurra, G. (2022). Energy Dependence, Renewable Energy Generation and Import Demand: Are EU Countries Resilient? Renewable Energy, 195, 1262-1274.
  • Directorate-General for Neighbourhood and Enlargement Negotiations (2022). Commission Implementing Decision of 15.12.2021 on the Financing of the Annual Action Plan in Favour of Bosnia and Herzegovina for 2021. Annex 5 – EU4 Energy. https://neighbourhood-enlargement.ec.europa.eu/commission-implementing-decision-15122021-financing-annual-action-plan-favour-bosnia-and-herzegovina_en#details (15.7.2022)
  • Đurašković, J., Konatar, M., & Radović, M. (2021). Renewable Energy in the Western Balkans: Policies, Developments and Perspectives. Energy Reports, 7, 481-490.
  • Gielen, D., Boshell, F., Saygin, D., Bazilian, M. D., Wagner, N., & Gorini, R. (2019). The Role of Renewable Energy in the Global Energy Transformation. Energy Strategy Reviews, 24, 38-50.
  • Huang, H.C., Tsai, T. F., & Subeq, Y.M. (2020). Using Grey Relational Analysis and Grey Integrated Multi-Objective Strategy to Evaluate the Risk Factors of Falling of Aboriginal Elders in Taiwan. Soft Computing, 24, 8097-8112.
  • IEA (2017). Energy Policies of IEA Countries, Greece 2017 Review. International Energy Agency Secure Sustainable Together. https://iea.blob.core.windows.net/assets/d34b4e20-d340-4563-822e-ae0cbe7e838b/EnergyPoliciesofIEACountriesGreeceReview2017.pdf (9.7.2022)
  • IEA (2020). World Energy Outlook. https://iea.blob.core.windows.net/assets/a72d8abf-de08-4385-8711-b8a062d6124a/WEO2020.pdf (3.7.2022)
  • IEA (2021a). Türkiye 2021 Energy Policy Review. https://iea.blob.core.windows.net/assets/cc499a7b-b72a-466c-88de-d792a9daff44/Türkiye_2021_Energy_Policy_Review.pdf (17.6.2022)
  • IEA (2021b). World Energy Outlook 2021. Paris: International Energy Agency. https://www.iea.org/reports/world-energy-outlook-2021 (3.7.2022)
  • IEA (2022). Renewable Energy Market Update Outlook for 2022 and 2023. https://www.iea.org/reports/renewable-energy-market-update-may- 2022#:~:text=Renewable%20capacity%20is%20expected%20to,%2Don%2Dyear%20wind%20additions. (15.7.2022)
  • IRENA (2020). Global Renewables Outlook: Energy Transformation 2050. Abu Dhabi: International Renewable Energy Agency.
  • IRENA (2022). Country Energy Profiles. https://www.irena.org/IRENADocuments/Statistical_Profiles/Eurasia/Türkiye_Eurasia_RE_SP.pdf (19.7.2022)
  • IRENA (2022). Renewable Capacity Statistics 2022. Abu Dhabi: International Renewable Energy Agency. Karakosta, C., Flouri, M., Dimopoulou, S., & Psarras, J. (2012). Analysis of Renewable Energy Progress in the Western Balkan Countries: Bosnia–Herzegovina and Serbia. Renewable and Sustainable Energy Reviews, 16(7), 5166-5175.
  • Koçak, E., & Şarkgüneşi, A. (2017). The Renewable Energy and Economic Growth nexus in Black Sea and Balkan Countries. Energy Policy, 100, 51-57. https://doi.org/10.1016/j.enpol.2016.10.007
  • Kurbatova, T., & Khlyap, H. (2015). State and Economic Prospects of Developing Potential of Non-Renewable and Renewable Energy Resources in Ukraine. Renewable and Sustainable Energy Reviews, 52, 217-226.
  • Lambordi, P., Sokolnikova, T., Suslov, K., Voropai, N., & Styczynski, Z.A. (2016). Isolated Power System in Russia: A Chance for Renewable Energies? Renewable Energy, 90, 532-541.
  • Lanshina, T. A., John, A., Potashnikov, V. Y., & Barinova, V. A. (2018). The Slow Expansion of Renewable Energy in Russia: Competitiveness and Regulation Issues. Energy Policy, 120, 600-609.
  • Li, R., & Leung, G. C. (2021). The relationship between Energy Prices, Economic Growth and Renewable Energy Consumption: Evidence from Europe. Energy Reports, 7, 1712-1719.
  • Liu, S., & Lin, Y. (2006). Grey Information Theory and Practical Applications. London: Springer Science+Business Media.
  • Marques, A. C., Fuinhas, J. A., & Manso, J. P. (2010). Motivations Driving Renewable Energy in European Countries: A Panel Data Approach. Energy Policy, 38(11), 6877-6885.
  • Meng, Y., Wu, H., Wang, Y., & Duan, Y. (2022). International Trade Diversification, Green Innovation, and Consumption-based Carbon Emissions: The Role of Renewable Energy for Sustainable Development in BRICST Countries. Renewable Energy. https://doi.org/10.1016/j.renene.2022.08.045 (5.7.2022)
  • Ministry of Energy of the Russian Federation (2010). Energy Strategy of Russia, For The Period Up To 2030. http://www.energystrategy.ru/projects/docs/ES-2030_(Eng).pdf (29.7.2022)
  • Păcesilă, M. (2013). Analysis of the Balkan Countries Policy on Renewable Energy Sources: The Case of Bulgaria, Romania and Greece. Management Research and Practice, 5(1), 49-66.
  • Proskuryakova, L. N., & Ermolenko, G. V. (2019). The Future of Russia’s Renewable Energy Sector: Trends, Scenarios and Policies. Renewable Energy, 143, 1670-1686.
  • REPowerEU (2022). REPowerEU: Affordable, secure and sustainable energy for Europe. https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/repowereu-affordable-secure-and-sustainable-energy-europe_en#investing-in-renewables (13.7.2022)
  • Shafiei, S., & Salim, R. A. (2014). Non-renewable and Renewable Energy Consumption and CO2 Emissions in OECD Countries: A Comparative Analysis. Energy Policy, 66, 547-556.
  • Tükenmez, M., & Demireli, E. (2012). Renewable Energy Policy in Türkiye with the New Legal Regulations. Renewable Energy, 39(1), 1-9.
  • Tung, C.-T., & Lee, Y.-J. (2009). A Novel Approach to Construct Grey Principal Component Analysis Evaluation Model. Expert Systems with Applications 36, 5916-5920. https://doi.org/10.1016/j.eswa.2008.07.007
  • United Nations Framework Convention on Climate Change (2008). Kyoto Protocol Reference Manual on Accounting of Emissions and Assigned Amount. https://unfccc.int/resource/docs/publications/08_unfccc_kp_ref_manual.pdf (22.7.2022)
  • Wang, G., Sadiq, M., Bashir, T., Jain, V., Ali, S. A., & Shabbir, M. S. (2022). The Dynamic Association between Different Strategies of Renewable Energy Sources and Sustainable Economic Growth under SDGs. Energy Strategy Reviews, 42, 100886. https://doi.org/10.1016/j.esr.2022.100886 (13.6.2022)
  • Woo, C., Chung, Y., Chun, D., Seo, H., & Hong, S. (2015). The Static and Dynamic Environmental Efficiency of Renewable Energy: A Malmquist Index Analysis of OECD Countries. Renewable and Sustainable Energy Reviews, 47, 367-376.

The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis

Year 2023, Volume: 23 Issue: 4, 617 - 626, 22.10.2023

Deniz Koçak Abdulkerim Çalışkan

https://doi.org/10.21121/eab.1335788

Abstract

Renewable energy, accepted as a solution to global energy needs, is an environmentally benign energy source that contributes to the economic development of countries, protects natural resources, and reduces pollution. Dependency on non-renewable energy sources raises serious concerns such as environmental degradation, energy security problems, and supply shortages. This study aims to evaluate the renewable energy performances of 14 Balkan and Black Sea countries with similar historical, cultural, and structural characteristics. For this purpose, the data on countries’ renewable energy indicators in 2020 is used in the grey principal component analysis that integrates grey system theory and principal component analysis. Thanks to the grey principal component analysis, it is possible to measure the countries’ existing state in renewable energy and evaluate the performance of countries comparatively. Results indicate that countries such as Russia and Türkiye, which stem from their potential in renewable energy indicators, or European Union member countries such as Greece and Romania, which are expected to fulfill certain obligations on renewable energy, rank first in the reference year. On the other hand, countries such as Bosnia–Herzegovina and Serbia, which have critical shortcomings in renewable energy applications, are in last place in the performance evaluation.

Keywords

Renewable Energy Performance Ranking Black Sea and Balkan Countries Grey Principal Component Analysis

References

  • Adebayo, T. S., Ullah, S., Kartal, M. T., Ali, K., Pata, U. K., & Ağa, M. (2023). Endorsing Sustainable Development in BRICS: The Role of Technological Innovation, Renewable Energy Consumption, and Natural Resources in Limiting Carbon Emission. Science of The Total Environment, 859, 160181. https://doi.org/10.1016/j.scitotenv.2022.160181
  • Aguirre, M., & Ibikunle, G. (2014). Determinants of Renewable Energy Growth: A Global Sample Analysis. Energy Policy, 69, 374-384.
  • Agyekum, E. B., Kumar, N. M., Mehmood, U., Panjwani, M. K., Alhelou, H. H., Adebayo, T. S., & Al-Hinai, A. (2021). Decarbonize Russia – A Best–Worst Method Approach for Assessing the Renewable Energy Potentials, Opportunities and Challenges. Energy Reports, 7, 4498-4515.
  • Allen, C., Metternicht, G., & Wiedmann, T. (2016). National Pathways to the Sustainable Development Goals (SDGs): A Comparative Review of Scenario Modelling Tools. Environmental Science & Policy, 66, 199-207.
  • Andreas, J. J., Burns, C., & Touza, J. (2018). Overcoming Energy İnjustice? Bulgaria’s Renewable Energy Transition in Times of Crisis. Energy Research & Social Science, 42, 44-52.
  • Bhat, A. A., & Mishra, P.P. (2018). The Kyoto Protocol and CO2 emission: Is India still hibernating? Indian Growth and Development Review, 11(2), 152-168.
  • Bhattacharya, M., Paramati, S. R., Ozturk, I., & Bhattacharya, S. (2016). The Effect of Renewable Energy Consumption on Economic Growth: Evidence from Top 38 Countries. Applied Energy, 162, 733-741.
  • Bianco, V., Proskuryakova, L., & Starodubtseva, A. (2021). Energy Inequality in the Eurasian Economic Union. Renewable and Sustainable Energy Reviews, 146, 111155. https://doi.org/10.1016/j.rser.2021.111155
  • Cantarero, M. M. V. (2020). Of Renewable Energy, Energy Democracy, and Sustainable Development: A Roadmap to Accelerate the Energy Transition in Developing Countries. Energy Research & Social Science, 70, 101716, 1-15. https://doi.org/10.1016/j.erss.2020.101716
  • Carfora, A., Pansini, R. V., & Scandurra, G. (2022). Energy Dependence, Renewable Energy Generation and Import Demand: Are EU Countries Resilient? Renewable Energy, 195, 1262-1274.
  • Directorate-General for Neighbourhood and Enlargement Negotiations (2022). Commission Implementing Decision of 15.12.2021 on the Financing of the Annual Action Plan in Favour of Bosnia and Herzegovina for 2021. Annex 5 – EU4 Energy. https://neighbourhood-enlargement.ec.europa.eu/commission-implementing-decision-15122021-financing-annual-action-plan-favour-bosnia-and-herzegovina_en#details (15.7.2022)
  • Đurašković, J., Konatar, M., & Radović, M. (2021). Renewable Energy in the Western Balkans: Policies, Developments and Perspectives. Energy Reports, 7, 481-490.
  • Gielen, D., Boshell, F., Saygin, D., Bazilian, M. D., Wagner, N., & Gorini, R. (2019). The Role of Renewable Energy in the Global Energy Transformation. Energy Strategy Reviews, 24, 38-50.
  • Huang, H.C., Tsai, T. F., & Subeq, Y.M. (2020). Using Grey Relational Analysis and Grey Integrated Multi-Objective Strategy to Evaluate the Risk Factors of Falling of Aboriginal Elders in Taiwan. Soft Computing, 24, 8097-8112.
  • IEA (2017). Energy Policies of IEA Countries, Greece 2017 Review. International Energy Agency Secure Sustainable Together. https://iea.blob.core.windows.net/assets/d34b4e20-d340-4563-822e-ae0cbe7e838b/EnergyPoliciesofIEACountriesGreeceReview2017.pdf (9.7.2022)
  • IEA (2020). World Energy Outlook. https://iea.blob.core.windows.net/assets/a72d8abf-de08-4385-8711-b8a062d6124a/WEO2020.pdf (3.7.2022)
  • IEA (2021a). Türkiye 2021 Energy Policy Review. https://iea.blob.core.windows.net/assets/cc499a7b-b72a-466c-88de-d792a9daff44/Türkiye_2021_Energy_Policy_Review.pdf (17.6.2022)
  • IEA (2021b). World Energy Outlook 2021. Paris: International Energy Agency. https://www.iea.org/reports/world-energy-outlook-2021 (3.7.2022)
  • IEA (2022). Renewable Energy Market Update Outlook for 2022 and 2023. https://www.iea.org/reports/renewable-energy-market-update-may- 2022#:~:text=Renewable%20capacity%20is%20expected%20to,%2Don%2Dyear%20wind%20additions. (15.7.2022)
  • IRENA (2020). Global Renewables Outlook: Energy Transformation 2050. Abu Dhabi: International Renewable Energy Agency.
  • IRENA (2022). Country Energy Profiles. https://www.irena.org/IRENADocuments/Statistical_Profiles/Eurasia/Türkiye_Eurasia_RE_SP.pdf (19.7.2022)
  • IRENA (2022). Renewable Capacity Statistics 2022. Abu Dhabi: International Renewable Energy Agency. Karakosta, C., Flouri, M., Dimopoulou, S., & Psarras, J. (2012). Analysis of Renewable Energy Progress in the Western Balkan Countries: Bosnia–Herzegovina and Serbia. Renewable and Sustainable Energy Reviews, 16(7), 5166-5175.
  • Koçak, E., & Şarkgüneşi, A. (2017). The Renewable Energy and Economic Growth nexus in Black Sea and Balkan Countries. Energy Policy, 100, 51-57. https://doi.org/10.1016/j.enpol.2016.10.007
  • Kurbatova, T., & Khlyap, H. (2015). State and Economic Prospects of Developing Potential of Non-Renewable and Renewable Energy Resources in Ukraine. Renewable and Sustainable Energy Reviews, 52, 217-226.
  • Lambordi, P., Sokolnikova, T., Suslov, K., Voropai, N., & Styczynski, Z.A. (2016). Isolated Power System in Russia: A Chance for Renewable Energies? Renewable Energy, 90, 532-541.
  • Lanshina, T. A., John, A., Potashnikov, V. Y., & Barinova, V. A. (2018). The Slow Expansion of Renewable Energy in Russia: Competitiveness and Regulation Issues. Energy Policy, 120, 600-609.
  • Li, R., & Leung, G. C. (2021). The relationship between Energy Prices, Economic Growth and Renewable Energy Consumption: Evidence from Europe. Energy Reports, 7, 1712-1719.
  • Liu, S., & Lin, Y. (2006). Grey Information Theory and Practical Applications. London: Springer Science+Business Media.
  • Marques, A. C., Fuinhas, J. A., & Manso, J. P. (2010). Motivations Driving Renewable Energy in European Countries: A Panel Data Approach. Energy Policy, 38(11), 6877-6885.
  • Meng, Y., Wu, H., Wang, Y., & Duan, Y. (2022). International Trade Diversification, Green Innovation, and Consumption-based Carbon Emissions: The Role of Renewable Energy for Sustainable Development in BRICST Countries. Renewable Energy. https://doi.org/10.1016/j.renene.2022.08.045 (5.7.2022)
  • Ministry of Energy of the Russian Federation (2010). Energy Strategy of Russia, For The Period Up To 2030. http://www.energystrategy.ru/projects/docs/ES-2030_(Eng).pdf (29.7.2022)
  • Păcesilă, M. (2013). Analysis of the Balkan Countries Policy on Renewable Energy Sources: The Case of Bulgaria, Romania and Greece. Management Research and Practice, 5(1), 49-66.
  • Proskuryakova, L. N., & Ermolenko, G. V. (2019). The Future of Russia’s Renewable Energy Sector: Trends, Scenarios and Policies. Renewable Energy, 143, 1670-1686.
  • REPowerEU (2022). REPowerEU: Affordable, secure and sustainable energy for Europe. https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/repowereu-affordable-secure-and-sustainable-energy-europe_en#investing-in-renewables (13.7.2022)
  • Shafiei, S., & Salim, R. A. (2014). Non-renewable and Renewable Energy Consumption and CO2 Emissions in OECD Countries: A Comparative Analysis. Energy Policy, 66, 547-556.
  • Tükenmez, M., & Demireli, E. (2012). Renewable Energy Policy in Türkiye with the New Legal Regulations. Renewable Energy, 39(1), 1-9.
  • Tung, C.-T., & Lee, Y.-J. (2009). A Novel Approach to Construct Grey Principal Component Analysis Evaluation Model. Expert Systems with Applications 36, 5916-5920. https://doi.org/10.1016/j.eswa.2008.07.007
  • United Nations Framework Convention on Climate Change (2008). Kyoto Protocol Reference Manual on Accounting of Emissions and Assigned Amount. https://unfccc.int/resource/docs/publications/08_unfccc_kp_ref_manual.pdf (22.7.2022)
  • Wang, G., Sadiq, M., Bashir, T., Jain, V., Ali, S. A., & Shabbir, M. S. (2022). The Dynamic Association between Different Strategies of Renewable Energy Sources and Sustainable Economic Growth under SDGs. Energy Strategy Reviews, 42, 100886. https://doi.org/10.1016/j.esr.2022.100886 (13.6.2022)
  • Woo, C., Chung, Y., Chun, D., Seo, H., & Hong, S. (2015). The Static and Dynamic Environmental Efficiency of Renewable Energy: A Malmquist Index Analysis of OECD Countries. Renewable and Sustainable Energy Reviews, 47, 367-376.
There are 40 citations in total.

Details

Primary Language English
Subjects Business Administration
Journal Section Research Article
Authors

Deniz Koçak 0000-0002-5893-0564

Abdulkerim Çalışkan 0000-0003-3123-8890

Early Pub Date October 16, 2023
Publication Date October 22, 2023
Acceptance Date September 6, 2023
Published in Issue Year 2023 Volume: 23 Issue: 4

Cite

APA Koçak, D., & Çalışkan, A. (2023). The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis. Ege Academic Review, 23(4), 617-626. https://doi.org/10.21121/eab.1335788
AMA Koçak D, Çalışkan A. The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis. ear. October 2023;23(4):617-626. doi:10.21121/eab.1335788
Chicago Koçak, Deniz, and Abdulkerim Çalışkan. “The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis”. Ege Academic Review 23, no. 4 (October 2023): 617-26. https://doi.org/10.21121/eab.1335788.
EndNote Koçak D, Çalışkan A (October 1, 2023) The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis. Ege Academic Review 23 4 617–626.
IEEE D. Koçak and A. Çalışkan, “The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis”, ear, vol. 23, no. 4, pp. 617–626, 2023, doi: 10.21121/eab.1335788.
ISNAD Koçak, Deniz - Çalışkan, Abdulkerim. “The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis”. Ege Academic Review 23/4 (October 2023), 617-626. https://doi.org/10.21121/eab.1335788.
JAMA Koçak D, Çalışkan A. The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis. ear. 2023;23:617–626.
MLA Koçak, Deniz and Abdulkerim Çalışkan. “The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis”. Ege Academic Review, vol. 23, no. 4, 2023, pp. 617-26, doi:10.21121/eab.1335788.
Vancouver Koçak D, Çalışkan A. The Renewable Energy Performances of Black Sea and Balkan Countries: An Application of Grey Principal Component Analysis. ear. 2023;23(4):617-26.
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