Avrupa Birliği Ülkelerinde Kamu Maliyesi ile İlgili Göstergelerin Yenilenebilir Enerji Üretimi Üzerindeki Etkisinin İncelenmesi

Abstract

Renewable energy supply is a key factor in addressing greenhouse gas emissions, global warming, climate change, environmental issues caused by industrialization and energy crises rooted in fossil fuels and energy security concerns problems. Public finance policies play a significant role in facilitating the transition to renewable energy supply and enhancing its development by supporting investment costs, shaping energy policies and investments, and ensuring efficiency in resource allocation through public authority in determining the quantity and proportion of production factors. The anticipated rapid growth trend in global renewable energy supply underscores the increasing importance of public support and guidance in achieving sustainable development and net-zero targets. In this context, tax revenues and public expenditures are adopted as important public finance policy instruments. The aim of this study is to test the impact of public finance-related indicators, specifically governments’ environmental protection expenditures and environmental tax revenues, on renewable energy supply and to investigate the influence of other factors that may be determinants of renewable energy supply. To identify and analyze these impacts, a Panel Data Analysis method was used, drawing on 26 years of observations including 1995–2020 years for 27 European Union (EU) member countries. The findings of the analysis reveal that in EU countries, environmental expenditures have a positive impact on renewable energy supply, while environmental taxes have a negative impact. The analysis also includes the variables of urban population ratio, GDP per capita, total energy supply, and renewable energy consumption, measured as annual growth rates. These analyses contribute to the development of policy recommendations that focus on public finance and economic indicators to promote and enhance renewable energy supply, thereby supporting the evaluation of renewable energy opportunities.