Transformations  in
Business & Economics

RENEWABLE ENERGY GENERATION AND CONSUMPTION ACROSS 2030 - ANALYSIS AND FORECAST OF REQUIRED GROWTH IN GENERATION CAPACITY
Adina Viorica Rus, Mihaela Daciana Rovinaru, Marcel Pirvu, Elena Dana Bako, Flavius Ioan Rovinaru

ABSTRACT. "Go green" is more than a slogan. It means taking action and, usually, action means money. In this paper, we want to capture the status of the energy transition, given that renewable energy is becoming increasingly important in recent years. We propose an extensive study on a regional and national level, using data and theoretical background from a large number of sources and we forecast the generation and consumption of energy using a weighted average differentiated for particular periods. Our central purpose/aim was to observe the evolution of the renewables and the financial effort needed to continue the "green rush" through 2030, trying to answer a simple question: Can we afford to go even greener? Facing the challenges of building new production capacities and infrastructure seems to be more difficult than ever. Even more so, in the future, that may well be focused on public health and pandemic-related issues, having just a handful of countries and regions fully-committed to lowering their carbon footprint.

KEYWORDS:  renewables, energy, environmental economics.

JEL classification:  O13, P18.