The Growth of Renewable Energy and Socio-Economic Analysis
Author : V Sumalatha
Abstract :
This study examines trends and growth rates in renewable energy production across multiple countries using time series analysis and inferential statistical methods. The analysis is based on annual data covering renewable energy production, installed capacity, and key economic indicators, including gross domestic product (GDP), population, and electricity prices. To assess cross-country differences in renewable energy output, a one-way analysis of variance (ANOVA) is employed to test the null hypothesis that all countries exhibit equal mean renewable energy production against the alternative hypothesis that at least one country differs significantly. The results provide quantitative evidence of variability in renewable energy performance across countries, highlighting distinct production patterns and growth dynamics. These findings offer valuable insights for policymakers, researchers, and industry stakeholders by underscoring the need for country-specific strategies to promote and accelerate the global transition to renewable energy.
Keywords :
Renewable energy, Time series analysis, One-way ANOVA, Cross-country comparison, Solar, Wind, Geothermal, Biomass, Hydro.
