Assessing the Impact of Renewable Energy on the Socio-Economic Indicators

Abstract

Renewable energy sources increase their share in the energy sector because of a number of significant threats resulting from emissions, discharges and wastes from energy production through environmentally-dangerous and economically unacceptable technologies. The article examines the dependency between energy consumption per capita, GDP, and human longevity. The dependencies, which include economic, social, and environmental factors, are represented by polynomials that express the influence of each of the factors, as well as their mutual influence. The degree of polynomial depends on the number of factors influencing the processes that are described by the dependency. In the countries with developed economies and, consequently, health-care systems, there is a bigger correlation between renewable energy production, GDP, and longevity, than in developing countries.

Keywords

• renewable energy
• energy supply
• statistical assessment
• renewable sources
• investment
• sustainable development
• GDP