Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition
In the current context, the focus on optimizing energy distribution is intensified by high-impact events such as resource scarcity, import dependence, war, inflation, or environmental threats. As a consequence, international agencies have built extensive policies and targets that will reflect direct...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2023-12-01
|
| Series: | Management şi Marketing |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/mmcks-2023-0020 |
| _version_ | 1797375889576558592 |
|---|---|
| author | Stancu Stelian Pernici Andreea |
| author_facet | Stancu Stelian Pernici Andreea |
| author_sort | Stancu Stelian |
| collection | DOAJ |
| description | In the current context, the focus on optimizing energy distribution is intensified by high-impact events such as resource scarcity, import dependence, war, inflation, or environmental threats. As a consequence, international agencies have built extensive policies and targets that will reflect directly into the general energy distribution. One of the most crucial would be the 65% share of electricity that is bound to be generated from renewables until 2030. To study the feasibility of that goal, we will analyze the evolution of the energy mix worldwide in the last two decades, identifying the shift towards alternative energy sources, while also pinpointing the agents of change in terms of the low-carbon transition. The methodology will consist of a bootstrap clustering algorithm that has been computed for 3 moments: 2000, 2010, and 2020, generating clear differences in terms of energy distribution. In the second part of the paper, we have employed an ARIMA model that aims to predict the share of renewable energy by 2030, with the worrying conclusion that if the current rhythm continues, the goal will not be met and the climate could face severe consequences. Therefore, the paper significantly contributes to the methodological void in terms of bootstrap clustering applicability, while also illustrating a complete energy picture from a geographical and time perspective. |
| first_indexed | 2024-03-08T19:30:45Z |
| format | Article |
| id | doaj.art-c24f8b19b4ad46b19d1487471f157d70 |
| institution | Directory Open Access Journal |
| issn | 2069-8887 |
| language | English |
| last_indexed | 2024-03-08T19:30:45Z |
| publishDate | 2023-12-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Management şi Marketing |
| spelling | doaj.art-c24f8b19b4ad46b19d1487471f157d702023-12-26T07:42:55ZengSciendoManagement şi Marketing2069-88872023-12-0118s138439710.2478/mmcks-2023-0020Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy TransitionStancu Stelian0Pernici Andreea11Bucharest University of Economic Studies, Bucharest, Romania; Centre for Industrial and Services Economics, Romanian Academy, Bucharest, Romania2Bucharest University of Economic Studies, Bucharest, RomaniaIn the current context, the focus on optimizing energy distribution is intensified by high-impact events such as resource scarcity, import dependence, war, inflation, or environmental threats. As a consequence, international agencies have built extensive policies and targets that will reflect directly into the general energy distribution. One of the most crucial would be the 65% share of electricity that is bound to be generated from renewables until 2030. To study the feasibility of that goal, we will analyze the evolution of the energy mix worldwide in the last two decades, identifying the shift towards alternative energy sources, while also pinpointing the agents of change in terms of the low-carbon transition. The methodology will consist of a bootstrap clustering algorithm that has been computed for 3 moments: 2000, 2010, and 2020, generating clear differences in terms of energy distribution. In the second part of the paper, we have employed an ARIMA model that aims to predict the share of renewable energy by 2030, with the worrying conclusion that if the current rhythm continues, the goal will not be met and the climate could face severe consequences. Therefore, the paper significantly contributes to the methodological void in terms of bootstrap clustering applicability, while also illustrating a complete energy picture from a geographical and time perspective.https://doi.org/10.2478/mmcks-2023-0020energy mixrenewable energybootstrap clusteringtime-seriesprediction |
| spellingShingle | Stancu Stelian Pernici Andreea Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition Management şi Marketing energy mix renewable energy bootstrap clustering time-series prediction |
| title | Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition |
| title_full | Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition |
| title_fullStr | Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition |
| title_full_unstemmed | Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition |
| title_short | Assessing the Evolution of the Energy Mix Worldwide, with a Focus on the Renewable Energy Transition |
| title_sort | assessing the evolution of the energy mix worldwide with a focus on the renewable energy transition |
| topic | energy mix renewable energy bootstrap clustering time-series prediction |
| url | https://doi.org/10.2478/mmcks-2023-0020 |
| work_keys_str_mv | AT stancustelian assessingtheevolutionoftheenergymixworldwidewithafocusontherenewableenergytransition AT perniciandreea assessingtheevolutionoftheenergymixworldwidewithafocusontherenewableenergytransition |