Renewable Energy Sources and Impact on GDP Growth

Abstract

Iinvestments in renewable energy sources (RES) appear to boost GDP growth especially in middle-income countries. By investing in RES, countries meet commitments for Net-Zero by 2050 and accelerate growth in ways that produce broader benefits to an economy. In Greece, the primary energy from RES doubled during the decade 2006-2016 thus contributing to a growing share of RES in the production of electricity. RES’ contribution tripled as a percentage of the total electricity produced. Using statistical tools, the relation of RES to GDP during this period points to positive associations between RES and important macro-economic variables and reveals easurable impact on overall GDP growth.