
Renewable Energy’s Effect on GDP Growth: Results from a Heterogeneous Panel Data Analysis
Our research, which is based on an extensive literature review, utilizes a heterogeneous panel data model to analyze the data of this study, which covers the period from 1970 to 2019, using real GDP (in million 2017 USD) according to chained PPP, capital stock (in million 2017 USD) according to current PPP, human capital index based on years of schooling and returns to education, and total renewable energy consumption in terawatt-hours (TWh) for each of the 22 European countries.