Macroeconomics

Engineering

Deregulation

Panel data

Literature

Operating system

Economics

Computer science

Language change

Business

Renewable energy

Politics

Political science

Democracy

Econometrics

Productivity

Sustainable development

Promotion (chess)

Unemployment

Natural resource

Software engineering

International economics

Economic growth

Finance

Software deployment

Order (exchange)

Electrical engineering

Energies

Sustainable development of the global economy can be achieved with the help of renewable energy (RE). The paper investigates the determinants of RE development in order to boost its adoption. The determinants of RE deployment were analyzed using random-effects GLS regression for the panel data from 27 EU member states in 2011–2020.The results confirm that economic development and high employment in advanced technology manufacturing are drivers of the RE sector, whereas unemployment growth affects RE deployment negatively. Our results show that active political participation and economic freedom promote RE; however, the level of corruption and democracy does not have a statistically significant impact on it. Favorable geographical location was proved to be a determinant of RE development. The hypothesis that plenty of natural resources discourage countries to develop RE was disproved. The major policy implications for RE promotion include the importance of economy deregulation, open market development and educational transformations. Following the results, prospects for further research were outlined.

Determinants of Renewable Energy Development: Evidence from the EU Countries