Dirma, Virgilijus

The adoption of renewable energy sources offers significant economic and sustainability benefits. These sources—solar, wind, hydro, biomass, and geothermal—are crucial for transitioning to a sustainable, low-pollution energy model. Key benefits of renewable energy include job creation, reduced energy costs, decreased reliance on imported resources, minimized environmental impact, and long-term economic stability. Renewable energy also plays a vital role in achieving environmental and sustainability goals. By reducing dependence on imported energy resources, it enhances energy security. Countries investing in renewables lower their reliance on international supply chains and geopolitical risks, which is particularly relevant for European Union nations historically dependent on energy imports. Domestic renewable energy resources help stabilize prices and ensure a consistent long-term energy supply. This study aimed to assess the impact of renewable energy sources on the economy and sustainable development in the European Union. Data for all variables were collected from the Eurostat database. The unbalanced panel data sample consisted of 27 EU countries (N = 27), covering the period 2001–2022 (T = 22). The analysis and generalization of the scientific literature compared theoretical and practical statements, econometric models, and the least squares method. Here, the hypothesis that “the transition to renewable energy sources will have a smaller negative impact on economic growth when the country is more dependent on imported energy sources” was accepted, and this means that using renewable energy sources not only contributes to environmental goals and climate change mitigation but also provides various economic benefits, including job creation, lower energy prices, greater energy security, and long-term sustainability. It is essential in the transition to a cleaner and more sustainable economy.

The development of renewable energy resources significantly impacts economic growth, various aspects of which can be assessed. First, the sector contributes to job creation, as new technologies and projects require specialists in various fields, from engineering to installation. Second, investments in renewable energy drive economic growth as the private and public sectors increasingly invest in innovation and infrastructure. In addition, developing renewable energy sources can lower energy prices for consumers, increase market competition, and reduce dependence on imported resources. However, there are also challenges related to initial investment costs, technological barriers and required political support. To ensure the successful development of renewable energy sources, it is necessary to create a favorable legal and regulatory environment, as well as to promote education and training in this area. In conclusion, the development of renewable energy resources can become an important driver of economic growth but requires a balanced approach and strategic planning. This work aims to evaluate the impact of the use of renewable resources on the economy after examining theories of economic growth. The following methods are used: analysis of theoretical and practical statements, comparative analysis, and panel data analysis. The research rejects hypotheses which suggest that transitioning to renewable energy sources slows economic growth. The development and adoption of renewable energy resources are essential for reducing greenhouse gas emissions, improving air quality, and ensuring sustainable development in the European Union. Despite initial costs and the hypothesis that transitioning to renewable energy slows economic growth, research shows that renewable energy sources (RES) do not hinder growth in the long term. Instead, they drive economic growth through technological advancements, job creation, and attracting significant investments, ultimately contributing to environmental protection and energy stability.

Depending on the specific economic structure of the country, the energy sector plays a more or less important role in terms of added value, jobs and other indicators, but more importantly is the role of energy products in the production processes and end use of other industries. Being one of the branches of the economy, energy sector is also an integral part of the concept of economy both in terms of national economy and research discipline. As shown in the following analysis, attempts to separate energy from the economy can only be very conditional. The concept of economics used in this work in the context of energy relations should be understood not as one of two completely separate objects, but as a sort of enveloping element. Here, it is also useful to remember the concept of the remaining economy, which describes the economy of the country, except energy - all other economic activities, their products, institutional sectors.

In recent decades, theorists and practitioners in various fields of science (economics, social sciences, environmental sciences, political science, management and other sciences) have focused on the objectives of state regulation, distinguishing different approaches in interpretation of the essence and features of objectives of state regulation. First of all, in order to reveal the development of the formation of state regulation, its essence and preconditions, the development of concepts of state’s emergence is being analyzed. The theoretical definition of objectives of state regulation includes retrospective of the concept of state regulation, concept of state’s emergence, development of the provisions of contemporary economic theories, examining all these parameters separately and linking them into a single whole.

A fast progress in the technology sector as well as clear intentions by the Lithuanian government to reduce pollution create advantageous circumstances for starting to utilise biofuel widely. A clear difference between biofuel and natural gas should help to reduce the price of heating noticeably. However, even though biofuel is 2-3 times cheaper than natural gas, the heat that was produced by utilising biofuel is only slightly cheaper than the one produced using natural gas. The object of this research is district heating sector. The research aims at investigating the savings that could be achieved after replacing natural gas with biofuel in heat production. The methods of research: the analysis of scientific and technical literature, articles, and statistical data. The results of research: the study showed that regulation is an integral part of the heating sector. The analysis of scientific and technical literature showed that the most widely analysed cost-cutting measure of heat production is the use of biofuels. The main part of the cost of heat produced by gas consists of fuel cost, i.e. natural gas. Scientists justify the shift to biofuel technology by the price of biofuels as they are more than two times cheaper than gas. On the other hand, biofuels are local raw materials, which do not have to be imported so the money can be kept in their economies. The measures on heat savings analysed by the researchers are related to the introduction of new technologies. Introduction of new technologies requires investment. As technology that enables heat production from biofuels is complex and very expensive, it is necessary to assess whether the investment in heat preparation with biofuels is cost-effective. It was found that the scientists use net present value method in investment assessment to calculate the discount rate and the cash flow generated by the investment.

Research background: Most of the studies and their authors focus on the social and economic impacts of energy-saving behavior. However, they do not focus on the psychological factors affecting the efficiency of energy consumption in households. Lithuania has a lack of a unified and justified opinion on psychological factors that affect the energy efficiency of households. Purpose of the article: The main objective of the article is to identify the psychological factors that influence energy efficiency in households and to identify the appropriate measures to change the individual's energy consumption behavior. Methods: The article was based on analysis of scientific literature and expert evaluation, when experts selected the most influencing psychological factors. Expert valuation allowed to set the right conditions in which individuals are more easily assimilated by means of energy saving. Findings: In most cases, economic and technological factors significantly influence household energy consumption. Increased energy-efficient equipment production and supply is causing an energy consumption growth in households, because they are more inclined to buy and use more efficient electrical equipment. An investigation has showed that the energy consumption is strongly influenced by some cultural and psychological factors: with greater public openness to innovation, the households tend to use energy more efficiently. Also, some psychological indicators have significant impact on energy consumption has - frequently the more pronounced neuroticism or extraversion rate. Since the research was performed only in Lithuania, in the future it will seek to carry out an investigation in several countries and to compare a various factors on the proposed measures and the efficiency of household energy consumption.

Most of the studies and their authors focus on the social and economic impacts of energy-saving behavior. But they do not focus on psychological factors affecting the efficiency of energy consumption in households. Lithuania has a lack of a unified and justified opinion on psychological factors that affect the energy efficiency of households. Purpose of the article: to identify the psychological factors that influence energy efficiency in households and to identify the appropriate measures changing the individual’s energy consumption behavior.. Methodology/methods: was based on analysis of scientific literature and expert evaluation, when the exerts selected the most influencing psychological factors. Expert valuation also allowed to set the right conditions in which individuals are more easily assimilated by means of energy saving. The correlation and regression analysis allowed to identify a variety of factors, including the psychological impact strength. Findings: Performed analysis of variety of factors that influence household energy consumption allowed to formulate conclusions that in most cases, economic and technological factors significantly influence household energy consumption, increased energy-efficient equipment production and supply is causing an energy consumption growth in households because they are more inclined to buy and use more efficient electrical equipment, which leads to the growth of energy consumption in households. An investigation showed that the energy consumption of households is strongly influenced by some cultural and psychological factors: the greater public openness to innovation, the households tend to use energy more efficiently. Also, a significant impact on energy consumption has some psychological indicators - frequently the more pronounced neuroticism or extraversion rate.

Daily life in the world is accompanied by a variety of global social problems such as discrimination, ignorance, suicides, poverty, hun- ger, environmental pollution and several others frequently caused by human beings. These have been particularly exacerbated by the recent and arguably ongoing economic crisis. Traditional global mar- ket makers and participants are gradually getting involved in the creation of social welfare while acting in a socially responsible manner, however, such actions are often led by a certain “fashion” or public pressure. Social entrepre neurship is cited as one of those alternatives. This business model is driven by the desire to have so- cial impact, it is one of the main tools being used as a response to fight against growing social exclusion and unemployment, dealing with sensitive regional problems. According to European Commis- sion, one of four start-ups each year is a social business company. It is being championed as a new opportunity to reduce inequality and exclusion so as to encourage econ omic growth. However, although social entrepreneurship has won the attention of scientists, its in- consistent theoretical basis and very limited perception are widely argued. It is claimed that poor pe rception of the social business mo- del is a major barrier to the development of such entrepreneurship in Europe. Lithuania is mentioned as one of seven countries where social entrepreneurship development lags behind and, therefore, is not involved in most of comparative reports of European countries. Accordingly, a lack of concrete data about this business model deve- lopment and perception in Lithuania and its comparability with other countries is noted. The main object – Lithuanian, Italian and British social business models. .The aim of article – compared Lithuanian, Italian and British social business models. The main results of study. [...]