Temporal Dynamics Between Renewable Energy Production and Economic Growth in Albania: A Time-Series Analysis (2019-2023 (Published)
This research examines the temporal relationship between renewable energy production and economic growth in Albania during 2019-2023, a period marked by the COVID-19 pandemic and European energy crisis. Using quarterly data from authoritative sources, the study employs correlation analysis, regression modeling, Granger causality testing, and impulse response function analysis. Results reveal a strong positive correlation (r = 0.72) between renewable energy production and GDP per capita, with renewable energy explaining approximately 51% of economic output variation. Granger causality testing indicates a bidirectional relationship between variables. Impulse response analysis shows that positive shocks to renewable energy production generate significant positive GDP responses peaking after three quarters, while economic growth stimulates renewable energy production after two quarters. The findings support the “feedback hypothesis” in energy-growth literature, demonstrating that investments in renewable energy infrastructure stimulate economic growth, while simultaneously, economic expansion facilitates further renewable energy adoption through increased investment capacity. These insights have significant implications for Albania’s energy policy and economic development strategies, particularly regarding energy transition, sustainable development objectives, and European integration requirements.
Keywords: Albania, Renewable Energy, economic growth, time-series analysis energy transition
POTENTIALS OF RENEWABLE ENERGY IN EBONYI STATE, NIGERIA (Published)
Ebonyi State is one of the south east states in Nigeria and is highly endowed with enormous resources both renewable and non-renewable. It is currently known as the “Salt of the Nation” due to large salt deposits in the state. However the maximum solar irradiance in Ebonyi State is in the range 895.70 W/m2 to 1043.83 W/m2. The generation rate of solid waste in the state capital is 9.580 x 10-3m3. These values indicate that the level of insolation and volume of biomass resources available in Ebonyi State can generate sufficient electricity for both her domestic and industrial use if properly harnessed in a sustainable manner. Despite these resources, Ebonyi State like other states in Nigeria still depends solely on fossil fuel for her electricity generation. The overdependence on fossil fuels has generated serious negative consequences on the environment, climate and on the health sector. Moreso, Ebonyi State has continued to suffer from epileptic power supply and this has almost crippled her economic, social and industrial activities. This study presents the current energy situation and the status of renewable energy technology and utilisation in Ebonyi State. It also highlights the potential benefits of renewable energy utilisation as a viable means of revitalising, restructuring and diversifying her energy source for sustainable growth and development in the State. The prospects and challenges of renewable energy technology are also discussed, and finally propose the way forward.
Keywords: Biomass Energy, Ebonyi State, Insolation, Renewable Energy