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A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (31 December 2022) | Viewed by 28092

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Special Issue Editors

Prof. Dr. Grzegorz Mentel

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Guest Editor

Department of Quantitative Methods, Rzeszow University of Technology, 35-959 Rzeszow, Poland
Interests: finance; modeling and simulation; risk analysis; econometric analysis; time series analysis; risk management and insurance; forecasting
Special Issues, Collections and Topics in MDPI journals

Prof. Dr. Sebastian Majewski

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Guest Editor

Department of Sustainable Finance and Capital Markets, Institute of Economics and Finance, University of Szczecin, 71-101 Szczecin, Poland
Interests: Behavioral finance; econometrics; energy market
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

It is our pleasure to invite you to submit your paper for consideration in MDPI’s Special Issue entitled “Energy Policy, Regulation, and Sustainable Development”. This issue will focus on policy, regulations, and finance for the energy system. An additional topic of this issue is the issue of sustainable development in the context of the energy market.

Papers may cover global, regional, national, or even local topics that are of wider significance.

Within this broad spectrum, topics of particular interest include:

Energy and environmental regulation;
Energy supply security and energy demand;
The quality and efficiency of energy services;
The effectiveness of market-based approaches and/or governmental interventions;
Energy technology innovation and diffusion;
Energy modeling and forecasting;
Energy analysis;
Energy planning and energy management;
Financial and behavioral aspects of the energy market;
Risks, returns, and investment across energy sectors;
Sustainable development.

Prof. Dr. Grzegorz Mentel
Prof. Dr. Sebastian Majewski
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

Energy policy
Blockchain
Energy demand
Energy supply
Energy security
Energy optimization
Energy efficiency
Energy forecast
Energy modeling
Regulations
Energy market
Power exchanges
Sustainable development
Economics models
Financial risk

Published Papers (14 papers)

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Research

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24 pages, 699 KiB

Open AccessArticle

Determinants of Reducing Greenhouse Gas Emissions in European Union Countries

by Beata Zofia Filipiak and Dorota Wyszkowska

Energies 2022, 15(24), 9561; https://doi.org/10.3390/en15249561 - 16 Dec 2022

Cited by 4 | Viewed by 1576

Abstract

In the literature on the subject, it is argued that tax policy is one of the tools stimulating the transition toward sustainable economies. Public authorities can use two functions for this purpose: fiscal and non-fiscal functions. High emission rates and the rising rapid atmospheric changes that come with them are serious threats to the climate and sustainable development. Reducing greenhouse gas emissions is one of the goals towards which the world strives (including the EU), so as to keep a balance between people’s expectations, economic aspects, and the needs of the environment. Therefore, it is necessary to explain whether, along with other factors, environmental policy and its component “green taxes” can act as a factor in limiting greenhouse gas emissions. The purpose of this article is to seek an answer to the question of whether “green taxes” as an instrument of tax policy are a significant factor influencing climate change by contributing to reducing greenhouse gas emissions. This article attempts to identify the determinants of greenhouse gas emissions (the dependent variable) using the method of linear regression analysis. Multiple linear regression models are used to predict the value of the dependent variable based on the values of the independent variables (identified from the literature). Trading of CO₂ emissions was not included in the analysis due to lack of data. The regression analysis was carried out using specialized statistical software (SPSS). The authors negatively verified the hypothesis that environmental taxes are a significant determinant of greenhouse gas emission reductions compared to the analyzed determinants. “Population”, “current and capital transfers for environmental protection”, and “supply, transformation and consumption of solid fossil fuels” are the most important factors influencing greenhouse gas emissions. Changing consumer behavior (as an effect of the non-fiscal function of taxes) appears to be an extremely important factor in reducing greenhouse gas emissions. Hence, the public authorities should promote behaviors conducive to their reduction by means of incentives, and not mainly taxation of negative behavior or fiscal incentives. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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14 pages, 2367 KiB

Open AccessArticle

Impact of Subsidy Programmes on the Development of the Number and Output of RES Micro-Installations in Poland

by Beata Bieszk-Stolorz

Energies 2022, 15(24), 9357; https://doi.org/10.3390/en15249357 - 10 Dec 2022

Cited by 4 | Viewed by 889

Abstract

Renewable energy sources are intended to support the decarbonisation process of the Polish economy. Since 2005, the share of renewable energy in total electricity in Poland has been increasing. The number of photovoltaic panels installed by prosumers as part of micro-installations increased particularly strongly. The aim of this research is an assessment of the impact of government programmes on the development of RES micro-installations in Poland. A regression discontinuity design was used in the analysis. It is a model from the group of average impact effect models used in evaluation studies. The added value of the presented study is its application in the assessment of the impact of implemented programmes on the number and output of micro-installations in Poland. In the study, it is shown that there had been no increase in the number and output of micro-installations at the adopted threshold (2019Q4). On the other hand, there was a sharp increase in them over the whole period starting from 2019Q4. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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16 pages, 587 KiB

Open AccessArticle

How Do FDI and Technological Innovation Affect Carbon Emission Efficiency in China?

by Qizhen Wang and Suxia Liu

Energies 2022, 15(23), 9209; https://doi.org/10.3390/en15239209 - 05 Dec 2022

Cited by 8 | Viewed by 1329

Abstract

China’s economic development is characterized by openness, and trade and investment are important engines for promoting economic development. China’s economy is now in a transitional period, during which excessive carbon emission reduction would inevitably hinder economic development. In this context, improving carbon emission efficiency is an effective way to achieve sustainable development. This paper deals with the relationships among foreign direct investment, technological innovation and carbon emission efficiency. Our research findings include the following. First, carbon efficiency shows regional differences. East China has the highest mean value of carbon emission efficiency, followed by central China and west China over the sample period. Second, FDI exerts both direct and indirect impacts on carbon emission efficiency through technological innovation, which confirms the intermediate effect of technological innovation. Finally, sub-sample analysis indicates that the impact of FDI and technological innovation on carbon emission efficiency show regional heterogeneity. According to these findings, we offer policy recommendations as follows. The government should stimulate independent innovation, promote technological progress in renewable energy and green energy, and attract environmentally friendly foreign investment to improve carbon emission efficiency and boost green development. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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13 pages, 1056 KiB

Open AccessArticle

R&D Human Capital, Renewable Energy and CO₂ Emissions: Evidence from 26 Countries

by Grzegorz Mentel, Waldemar Tarczyński, Hossein Azadi, Kalandar Abdurakmanov, Elina Zakirova and Raufhon Salahodjaev

Energies 2022, 15(23), 9205; https://doi.org/10.3390/en15239205 - 05 Dec 2022

Cited by 10 | Viewed by 1376

Abstract

This study examines the long-term relationship between carbon emissions and a number of researchers engaged in Research and Development (R&D), economic development, foreign capital inflows, renewable energy and population growth in 26 countries between 1995 and 2015. Pedroni’s panel cointegration test confirms the cointegrating relationship between the variables. Long-term elasticities are derived from FMOLS regression. Researchers in R&D and renewable energy are negatively and significantly related to carbon emissions. There is a positive and significant long-term relationship between GDPs per capita and CO₂ and between the FDI and CO₂. Dumitrescu and Hurlin’s panel causality test revealed unidirectional causality running from economic development to carbon emissions and feedback hypotheses between the FDI and CO₂ and between renewable energy and CO₂. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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21 pages, 1086 KiB

Open AccessArticle

Energy Transition in Non-Euro Countries from Central and Eastern Europe: Evidence from Panel Vector Error Correction Model

by Simona Andreea Apostu, Mirela Panait, Daniel Balsalobre-Lorente, Diogo Ferraz and Irina Gabriela Rădulescu

Energies 2022, 15(23), 9118; https://doi.org/10.3390/en15239118 - 01 Dec 2022

Cited by 5 | Viewed by 1790

Abstract

The countries of Central and Eastern Europe, from the non-euro area, have completed the process of economic transition before joining the European Union. Achieving a certain level of economic development and membership in the European Union have generated their involvement in a new transition process, namely the energy transition. Concerns about promoting the low carbon economy have become increasingly complex for those countries that are interested in the environmental impact of economic activity. This study aims to analyze the process of energy transition in the countries of Central and Eastern Europe on the basis of the causality relationship among specific variables for the period 1990–2018. The study is based on cross-sectional panel data and the panel vector error correction model (PVECM). The efforts made by these countries by joining the European Union have generated economic development, with positive effects being recorded on the protection of the environment, a fact due to the strict regulations adopted and rigorous implementation at the national level. Foreign capital had a positive impact on the transition to a low carbon economy because most of the FDI flows attracted by the non-euro countries in the CEE come from Western Europe, i.e., from EU member countries, located either among the founders or among the countries that joined during the first waves of union expansion. Membership in the European Union facilitates the energy transition process for the non-euro countries of Central and Eastern Europe, but the new geopolitical events generate the reconfiguration of the European strategy of considering the need to ensure energy security. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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23 pages, 2024 KiB

Open AccessArticle

An Analysis of the Use of Energy from Conventional Fossil Fuels and Green Renewable Energy in the Context of the European Union’s Planned Energy Transformation

by Katarzyna Chudy-Laskowska and Tomasz Pisula

Energies 2022, 15(19), 7369; https://doi.org/10.3390/en15197369 - 07 Oct 2022

Cited by 19 | Viewed by 2630

Abstract

Over the past few years, considerable emphasis has been put on decarbonization, which, in the context of the recent events in Europe, proves that mixing energy sources is the best strategy. This article discusses ways in which individual EU member states manage their energy source diversification, while comparing their levels of fossil fuels and renewable energy sources (RESs) usage. The research data was acquired from the Eurostat website and comprises of 15 indicators describing the use of energy both from conventional and renewable sources in the European Union, in 2019. The study employs taxonomical methods, such as ranking and cluster analysis. The authors put forward a hypothesis that EU member states approach the use of energy resources in several ways. There are countries which take advantage of both traditional and renewable sources (Netherlands, Germany, Austria, and Italy). However, there is a group of states that relies on a single energy source and exclusively uses either traditional (Poland) or renewable energy resources (Sweden, Finland). The analyses enabled the isolation of country clusters with similar activities and energy strategies. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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19 pages, 561 KiB

Open AccessArticle

The Nexus of Energy, Green Economy, Blue Economy, and Carbon Neutrality Targets

by Suleman Sarwar, Rida Waheed, Ghazala Aziz and Simona Andreea Apostu

Energies 2022, 15(18), 6767; https://doi.org/10.3390/en15186767 - 16 Sep 2022

Cited by 27 | Viewed by 1880

Abstract

The aim of current study is to investigate the significance of green and blue economic activities to mitigate the carbon emission in Saudi Arabia. We use the time series data which covers the period from 1990 to 2019. For empirical estimations, we use nonlinear ARDL approach which confirms that energy indicators and blue economic indicators are not mature enough to achieve carbon neutrality objectives. However, after Vision 2030 empirics, positive shocks in green indicators are turning down the carbon level. The findings of energy and blue indicators are useful for policy recommendations which help to achieve the sustainable environmental goals of Vision 2030. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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23 pages, 766 KiB

Open AccessEditor’s ChoiceArticle

Perceived Barriers to Nearly Zero-Energy Housing: Empirical Evidence from Kilkenny, Ireland

by Cynthia Souaid, Harry van der Heijden and Marja Elsinga

Energies 2022, 15(17), 6421; https://doi.org/10.3390/en15176421 - 02 Sep 2022

Viewed by 1452

Abstract

In 2010, the Energy Performance of Buildings Directive announced that all new buildings are to be nearly zero-energy as of January 2021. Having reached year 2022, it can be said that the transition has proven to be slower than anticipated. Transition research has long acknowledged the potential impact of the human factor in the process of change. While there is a relative wealth of literature on end-users and their perceptions as recipients of change within the demand end of the market, research on professionals and their perceptions as actors in the process of change is limited. Thus, this study looks at the human factor in the supply end of the market by bringing professionals’ perceptions to the forefront in its investigation of barriers to the implementation and uptake of nearly zero-energy housing in practice. As part of the project entitled Housing 4.0 Energy: Affordable and Sustainable Housing through Digitization, data were collected through a focus group and semi-structured interviews with housing professionals in Kilkenny, Ireland. Descriptive coding, inferential coding, and fact tracing revealed several identified barriers to be perceptions and not actual barriers to nearly zero-energy housing. Additionally, information dissemination and assimilation between policy and industry was identified as an overarching barrier. Therefore, the paper ends with recommendations to reduce delay factors at the supply end of the market, thus contributing to closing the gap between the development of policies and their implementation. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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20 pages, 297 KiB

Open AccessArticle

The Quality of Goodwill Disclosures and Impairment in the Financial Statements of Energy, Mining, and Fuel Sector Groups during the Pandemic Period—Evidence from Poland

by Maciej Gierusz, Stanisław Hońko, Marzena Strojek-Filus and Katarzyna Świetla

Energies 2022, 15(16), 5763; https://doi.org/10.3390/en15165763 - 09 Aug 2022

Cited by 1 | Viewed by 1803

Abstract

The COVID-19 pandemic has strongly affected the economic situation of many countries, which is worth considering not only globally but also in the context of specific industries. An asset that is particularly sensitive to negative economic changes is goodwill. The aim of this study is to assess the impact of the pandemic on the quality of financial disclosures concerning goodwill in consolidated financial statements of groups of chosen strategic sectors in Poland. We investigated the implications of the pandemic on the frequency and scale of goodwill impairment in relation to 23 companies listed on the Warsaw Stock Exchange from the Energy, Mining, and Fuel Index. We identified the research gap in this area. For the purposes of this study, two research hypotheses were formulated: (H1) during the COVID-19 pandemic, there has been a slight improvement in the quality of goodwill disclosures in the consolidated financial statements of groups in the energy, fuel, and mining sectors; (H2) The COVID-19 pandemic caused a decrease in goodwill due to impairment losses in the consolidated financial statements of groups in the energy, fuel, and mining sectors. The hypotheses were verified on the basis of the above research sample. In order to verify the first hypothesis, we tested 81 consolidated financial statements for the years 2018–2021 based on a self-developed index of the quality of disclosed information. To verify the second hypothesis, we analyzed the frequency and scale of the estimated loss of goodwill during the COVID-19 pandemic and its impact on the deterioration of the financial condition of the same research sample. The conducted research shows that the quality of disclosures regarding the goodwill in the examined sample has changed slightly. Contrary to our expectations, the pandemic did not materially reduce the value of goodwill. This means that the first hypothesis was verified positively, while the second hypothesis had to be rejected. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

19 pages, 2051 KiB

Open AccessArticle

Pro-Inflationary Impact of the Oil Market—A Study for Poland

by Grzegorz Przekota and Anna Szczepańska-Przekota

Energies 2022, 15(9), 3045; https://doi.org/10.3390/en15093045 - 21 Apr 2022

Cited by 7 | Viewed by 1672

Abstract

The economic activity of businesses and the living standards of the population are largely dependent on inflation. Here, energy prices are of particular importance. Energy is what offers a competitive edge to economies. Therefore, many energy sectors still remain under state control. However, the fuel market is free although highly concentrated. The primary objective of this study was to determine the impact of fuel price changes on inflation in Poland. The research was based on causality models and regression models including asymmetry correction. The flow path was analyzed of price impulses from the basic raw material (i.e., crude oil) through wholesale diesel prices to inflation. The study demonstrates that with each successive stage of raw material processing, price volatility proves to be weaker. However, the final effect is still significant: inflation is largely shaped by energy carriers and, here, specifically by fuel prices. Such results have serious implications for the state’s economic policy. On one hand, they point to the limitations of this policy and, on the other hand, they raise questions about the legitimacy of the reforms that free up energy markets. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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20 pages, 3931 KiB

Open AccessArticle

The Heterogeneous Relationship between Pollution Charges and Enterprise Green Technology Innovation, Based on the Data of Chinese Industrial Enterprises

by Mingyue Wang, Yingming Li, Zitong Wang and Junqiang Li

Energies 2022, 15(5), 1663; https://doi.org/10.3390/en15051663 - 23 Feb 2022

Cited by 13 | Viewed by 1818

Abstract

Enterprises’ green technology innovation is critical to achieving the “win-win” of enterprise competitiveness and environmental protection. The impact of environmental regulation on green technology innovation by enterprises has been widely considered, but the conclusion has not yet been determined, and needs to be studied in detail. To this end, we studied the impact of pollution charge policy on different types of green technology innovation by industrial enterprises in China. We found that (1) the impact of pollution charges on most types of green technology innovation by enterprises has increased significantly over time; (2) the pollution charge policy has a certain inhibition effect on the end-of-pipe technology innovation, but can promote the process improvement of reducing industrial wastewater emissions; (3) there is a U-shaped relationship between the pollution charges and some green technological innovation (e.g., emission intensity of SO₂, industrial wastewater emission intensity, and industrial wastewater removal intensity), which is dynamically adjusted over time; and (4) the larger the enterprise’s solid assets, the faster the asset depreciation will inhibit the enterprise from adopting the green process innovation strategy. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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12 pages, 694 KiB

Open AccessArticle

Industrialization and CO₂ Emissions in Sub-Saharan Africa: The Mitigating Role of Renewable Electricity

by Urszula Mentel, Elżbieta Wolanin, Mansur Eshov and Raufhon Salahodjaev

Energies 2022, 15(3), 946; https://doi.org/10.3390/en15030946 - 27 Jan 2022

Cited by 60 | Viewed by 3786

Abstract

This study aims to explore the relationship between industry value added, renewable energy, and CO₂ emissions in a sample of 44 Sub-Saharan African countries over the period 2000–2015. This study makes several important contributions to extant research. While existing research was focused on the renewable energy-CO₂ emissions nexus, the current study assesses the moderating role of the renewables sector in the industrialization-CO2 emissions relationship. In addition, this study considers whether EKC relationships will hold after accounting for structural transformations (including industrial contributions to GDPs). Moreover, we are revising the existence of the EKC framework for the Sub-Saharan African countries. Using a two-step system GMM estimator, we found that the share of industry in GDP has a significant positive impact on CO₂ emissions, while renewable electricity output reduces CO₂ emissions. If causal, a one percentage point increase in renewable electricity output reduces carbon emissions by 0.22%. Moreover, the renewable energy sector then mediates the positive effect of industry value added on CO₂ emissions. We also find evidence for the statistical significance of the inverted U-shaped relationship between GDP per capita and CO₂ emissions. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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25 pages, 684 KiB

Open AccessArticle

The Influence of Investors’ Mood on the Stock Prices: Evidence from Energy Firms in Warsaw Stock Exchange, Poland

by Waldemar Tarczyński, Urszula Mentel, Grzegorz Mentel and Umer Shahzad

Energies 2021, 14(21), 7396; https://doi.org/10.3390/en14217396 - 05 Nov 2021

Cited by 7 | Viewed by 2260

Abstract

The subject of this publication is an analysis of the sentiment of stock exchange investors in terms of making investment decisions in the energy sector of the Polish stock exchange. The investment mood is considered in the context of the possible impact of weather factors on investment decisions. Possible effects are verified in relation to the rates of return and the volume of trading of energy sector entities. The analysis is carried out both in terms of co-integration analyses as well as in econometric terms, in the cross-section of classic OLS models or causality analysis using VAR vector autoregression models. The main purpose of the issues discussed is the problem of indicating (illustrating) the presence or absence of mutual relations between weather factors and the stock market in terms of the methods considered. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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Review

Jump to: Research

21 pages, 5547 KiB

Open AccessReview

Green and Renewable Energy Innovations: A Comprehensive Bibliometric Analysis

by Grzegorz Mentel, Anna Lewandowska, Justyna Berniak-Woźny and Waldemar Tarczyński

Energies 2023, 16(3), 1428; https://doi.org/10.3390/en16031428 - 01 Feb 2023

Cited by 12 | Viewed by 2426

Abstract

Taking into account factors such as unfavorable climate changes, shrinking fossil fuel resources, low energy efficiency, and the pace of population growth, the transformation towards green and renewable energy is one of the most important goals and challenges facing the world. The energy sector is the source of about 75% of global greenhouse gas emissions and energy-related emissions are reaching new record levels. For the energy transition to succeed, innovation at the level of technology, business processes and policies (local, national, and international) are necessary. Therefore, the aim of this article is to analyze the size, structure, and dynamics of research on innovations in the field of green and renewable energy in the last decade in order to identify the main topics and research trends in this field. The authors conducted a bibliometric review based on the PRISMA guidance together with visualization analysis based on the VOSviewer software. For this purpose, the Web of Science Core Collection (WoS CC) database was used, and based on defined inclusion criteria, the authors selected 1144 records for bibliographic analysis. The database was subjected to a performance analysis from the perspective of the number of publications per year, dominant countries, and journals. Further, science mapping was employed to analyze such features of the publications as co-citations, co-occurrences, and bibliometric coupling. Based on the results, gaps in green and renewable energy innovations were identified and issues for future research were defined and recommended. Full article

(This article belongs to the Special Issue Energy Policy, Regulation and Sustainable Development)

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