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Current Issues in Sustainable Energy Production: Multidimensional Outlook for the Sustainable Economic Growth

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A special issue of Sustainability (ISSN 2071-1050).

Deadline for manuscript submissions: closed (31 August 2020) | Viewed by 20996

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Special Issue Editors

Prof. Dr. Hasan Dinçer

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Guest Editor

Istanbul Medipol University, School of Business, Istanbul, Turkey
Interests: energy economics; business; finance; banking
Special Issues, Collections and Topics in MDPI journals

Prof. Serhat Yüksel

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Guest Editor

Istanbul Medipol University, School of Business, Istanbul, Turkey
Interests: energy economics; business; finance; banking

Special Issue Information

Dear Colleagues,

The purpose of this Special Issue is to undermine the current issues in sustainable energy production. For that, multidimensional factors of balanced scorecard entitled financial, customer, internal, and competitive perspectives are considered so as to discuss the effectiveness of energy production for sustainable economic growth. The novelties of this Issue are to provide a multidimensional outlook to the energy industry, and to give specific cases for developed and developing countries to illustrate the policy recommendations of sustainable energy economics.

Prof. Hasan Dinçer
Prof. Serhat Yüksel
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. Sustainability 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 2400 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

sustainable economies
energy production
energy industry
innovation
business
management
economics

Published Papers (5 papers)

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Research

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16 pages, 310 KiB

Open AccessArticle

The Relationship between Renewable Energy and Human Development in OECD Countries: A Panel Data Analysis

by Mahmut Unsal Sasmaz, Emre Sakar, Yunus Emre Yayla and Ulas Akkucuk

Sustainability 2020, 12(18), 7450; https://doi.org/10.3390/su12187450 - 10 Sep 2020

Cited by 45 | Viewed by 4369

Abstract

Renewable energy has attracted researcher attention in recent years, and the number of studies conducted on the topic has increased. The importance of renewable energy has increased because certain energy resources are exhaustible and they damage the environment in various ways. Fossil fuel-based energy is the main culprit for environmental damage and lately renewable energy is the main focus as a safe alternative to fossil fuels. However, replacement of fossil fuels by renewables may have a negative impact on human development, even if it has a positive impact on the environment. With this rationale, this study investigates the relationship between renewable energy and human development in 28 OECD (Organization for Economic Cooperation and Development) countries from 1990 to 2017 by using the Westerlund and Edgerton panel cointegration test with structural breaks and the Dumitrescu and Hurlin causality test. The results of the panel data analysis revealed that renewable energy affected human development positively. In addition, the causality test determined the presence of a bidirectional causality relationship between renewable energy and human development. This study is unique in the sense that it is the only study in the literature examining the relationship between human development index and renewable energy for the countries in question. While similar analyses were conducted in the past for different regions or for just one type of renewable energy, no such study has been conducted in this scale with this method. Another differentiating feature of the study is that it demonstrates the bidirectional nature of the study not just the unidirectional causality. Policymakers are advised to invest in renewable energy projects and also create frameworks which provide incentives to the private sector for renewable energy production. Full article

(This article belongs to the Special Issue Current Issues in Sustainable Energy Production: Multidimensional Outlook for the Sustainable Economic Growth)

16 pages, 803 KiB

Open AccessArticle

Do High Oil Prices Obstruct the Transition to Renewable Energy Consumption?

by Shahriyar Mukhtarov, Jeyhun I. Mikayilov, Sugra Humbatova and Vugar Muradov

Sustainability 2020, 12(11), 4689; https://doi.org/10.3390/su12114689 - 08 Jun 2020

Cited by 47 | Viewed by 5010

Abstract

The study analyzes the impact of economic growth, carbon dioxide (CO₂) emissions, and oil price on renewable energy consumption in Azerbaijan for the data spanning from 1992 to 2015, utilizing structural time series modeling approach. Estimation results reveal that there is a long-run positive and statistically significant effect of economic growth on renewable energy consumption and a negative impact of oil price in the case of Azerbaijan, for the studied period. The negative impact of oil price on renewable energy consumption can be seen as an indication of comfort brought by the environment of higher oil prices, which delays the transition from conventional energy sources to renewable energy consumption for the studied country case. Also, we find that the effect of CO₂ on renewable energy consumption is negative but statistically insignificant. The results of this article might be beneficial for policymakers and support the current literature for further research for oil-rich developing countries. Full article

(This article belongs to the Special Issue Current Issues in Sustainable Energy Production: Multidimensional Outlook for the Sustainable Economic Growth)

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19 pages, 268 KiB

Open AccessArticle

Corporate Governance-Based Strategic Approach to Sustainability in Energy Industry of Emerging Economies with a Novel Interval-Valued Intuitionistic Fuzzy Hybrid Decision Making Model

by Wenhao Qi, Zhixiong Huang, Hasan Dinçer, Renata Korsakienė and Serhat Yüksel

Sustainability 2020, 12(8), 3307; https://doi.org/10.3390/su12083307 - 18 Apr 2020

Cited by 39 | Viewed by 3136

Abstract

The sustainability in energy industry is one of the most prominent issues in emerging economies because of needs for the long-term growth of production and managerial capacity. Accordingly, corporate governance could lead to develop the sustainable production of energy industry. The purpose of this study is to define a set of criteria and dimensions for analyzing the corporate governance-based strategic approach to sustainability in the energy industry of emerging economies. For this purpose, this study provides several novelties by extending a hybrid decision making model with interval-valued intuitionistic fuzzy sets (IVIF) and defining the related criteria and dimensions of corporate governance-based strategic approach with the supported literature. IVIF decision making trial and evaluation laboratory (DEMATEL) is constructed for measuring the relative importance of criteria and dimensions. IVIF VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR) is applied for ranking the corporate governance-based performance of sustainable energy industries in emerging economies. Sensitivity analysis is also used for understanding the coherence of ranking results. Analysis results illustrate that the energy industry could provide more sustainable results than the conventional managerial policies by considering the social capital of board members. Additionally, mass-economies are closely related to the sustainable production capacities of energy industry and have the best performance results for the corporate governance-based sustainable energy production strategies. The results are discussed to provide the policy recommendations by comparing analysis results of emerging economies for further studies. Full article

(This article belongs to the Special Issue Current Issues in Sustainable Energy Production: Multidimensional Outlook for the Sustainable Economic Growth)

15 pages, 471 KiB

Open AccessArticle

Revisiting Energy Demand Relationship: Theory and Empirical Application

by Fakhri J. Hasanov and Jeyhun I. Mikayilov

Sustainability 2020, 12(7), 2919; https://doi.org/10.3390/su12072919 - 06 Apr 2020

Cited by 10 | Viewed by 2949

Abstract

In this paper, we revisit the theoretical framework for energy demand. We then use this theoretical framework to empirically model the Saudi Arabian industrial electricity demand. We show, in the case of Saudi Arabian data, that imposing parsimonious energy demand specification on data without testing relevant assumptions can lead to biased estimations and noticeably poor approximations, while imposing general energy demand specification without accounting for the data properties can lead to redundant estimations and lower approximation than what could be obtained otherwise. Combining the theory with the data can provide unbiased and irredundant estimations with high levels of approximations. Hence, this paper recommends, based on the empirical findings, that a better strategy would be the combination of theoretical coherence with data coherence in the General to Specific Modeling (GtSM) framework for the empirical analyses of energy demand. Full article

(This article belongs to the Special Issue Current Issues in Sustainable Energy Production: Multidimensional Outlook for the Sustainable Economic Growth)

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Review

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43 pages, 1606 KiB

Open AccessReview

A Systematic Review of the Relationship Between Energy Consumption and Economic Growth in GCC Countries

by Mohammed AlKhars, Fazlul Miah, Hassan Qudrat-Ullah and Aymen Kayal

Sustainability 2020, 12(9), 3845; https://doi.org/10.3390/su12093845 - 08 May 2020

Cited by 49 | Viewed by 4829

Abstract

This survey study analyzed the existing literature on the relationship between energy consumption and economic growth in the six Gulf Cooperation Council (GCC) countries (Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Oman and Kuwait). This study identified 59 articles published in 18 journals covering the period 2006–2019. The articles were grouped into two categories: the first category included studies analyzing the energy–growth relationship at the individual country level while the second category included studies analyzing the relationship at a multi-country level. The result of this study revealed that 18% of the observations supported the growth hypothesis, 26% supported the conservation hypothesis, 43% supported the feedback hypothesis and 13% supported the neutral hypothesis. As our analysis found a dominant support for the growth and feedback hypotheses, this implies that the focus of energy policies in GCC countries has been on the supply and the uninterrupted availability for the expansion and growth of their industrial and developmental activities. However, for a sustainable development and growth of the GCC economies and meeting the environmental challenges, there is an urgent need for the expansion of renewable energy technologies in the energy supply mix of GCC countries. Full article

(This article belongs to the Special Issue Current Issues in Sustainable Energy Production: Multidimensional Outlook for the Sustainable Economic Growth)

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