Abstract

The European energy policy is a core role in the developing of the new model of the energy market and carbon-free economy in Ukraine. In the paper, the authors analysed the key issues on the way to implement the European policy on increasing of energy efficiency and green innovations which emphasized in pro et contra. The performance of national energy policy could be limited by the market instruments, the efficiency of the smart grid and perception of innovations in the energy sectors, institutional development in general. Thus, the paper aimed to indicate the impact of green innovations on sustainable development and the country’s energy efficiency for 2000-2019. The authors used economic and mathematical modelling. The Ordinary Least Square Model was used for the integral assessment of energy efficiency policy. The authors analysed nine sub-indicators from four Sustainable development goals (Affordable and Clean Energy, Decent Work and Economic Growth, Responsible Consumption and Production, Combating Climate Change) and the indicator which characterized the innovation costs of industrial enterprises in the energy sector in Ukraine. The methodological instrument for checking the hypothesis and empirical justification was software stats models в Python 3.6.11. Due to the seven rounds of optimisation, the authors developed significant functioning. Considering to the finding of Ordinary Least Square Modelling, the authors highlighted the determinants which influenced on the efficiency of energy policy: dependence on energy imports by-products, real GDP per capita, and final energy consumption.  At the same time, the final energy consumption had less effect on the efficiency of energy policy and demonstrated the negative relationships with energy efficiency. The results of the models were verified using RESET and Jarque-Bera tests and confirmed the correctness of the proposed model. 

Keywords: energy policy, sustainable development goals, green innovations, energy efficiency.

JEL Classification: O40, Q43, Q48.

Cite as: Kolosok, S., Pimonenko, T., Yevdokymova, A., Nazim, O. H., Palienko, M., & Prasol, L. (2020). Energy efficiency policy: impact of green innovations. Marketing and Management of Innovations, 4, 50-60. https://doi.org/10.21272/mmi.2020.4-04

This work is licensed under a Creative Commons Attribution 4.0 International License

References

1. Abeelen, C. J., Harmsen, R., & Worrell, E. (2019). Disentangling industrial energy efficiency policy results in the Netherlands. Energy Efficiency, 12(5), 1313-1328. [Google Scholar] [CrossRef]
2. Barbier, E. B. (2020). Greening the post-pandemic recovery in the G20. Environmental and Resource Economics, 76(4), 685-703. [Google Scholar] [CrossRef]
3. Bertoldi, P., & Mosconi, R. (2020). Do energy efficiency policies save energy? A new approach based on energy policy indicators (in the EU member states). Energy Policy, 139. [Google Scholar] [CrossRef]
4. Boichenko, K. S., Tepliuk, M. A., Rekova, N. Y., Stashkevych, I. I., & Morkunas, M. (2019). Management of fluctuation of financial and economic integrated development of innovative enterprise. Financial and credit activity: problems of theory and practice, 3(30), 62-69. [Google Scholar] [CrossRef]
5. Brown, M. (2015). Innovative energy-efficiency policies: An international review. Wiley Interdisciplinary Reviews: Energy and Environment, 4(1), 1-25. [Google Scholar] [CrossRef]
6. Bukarica, V., & Tomsic, Ž. (2017). Energy efficiency policy evaluation by moving from techno-economic towards whole society perspective on energy efficiency market. Renewable and Sustainable Energy Reviews, 70, 968-975. [Google Scholar] [CrossRef]
7. Dhakouani, A., Znouda, E., & Bouden, C. (2019). Impacts of energy efficiency policies on the integration of renewable energy. Energy Policy, 133, 110922. [Google Scholar] [CrossRef]
8. Dupont, C. (2016). Climate policy integration into EU energy policy : progress and prospects. London: Routledge. [Google Scholar]
9. Dupont, C. (2020). Defusing contested authority: EU energy efficiency policymaking. Journal of European Integration, 42(1), 95-110. [Google Scholar] [CrossRef]
10. European Parliament, & Council (2012). Directive 2012/27/EU of the European Parliament and of the Council of 25 October 2012 on energy efficiency, amending Directives 2009/125/EC and 2010/30/EU and repealing Directives 2004/8/EC and 2006/32/EC (Text with EEA relevance; version: 26/10/2020). Retrieved from [Link]
11. European Parliament, & Council. (2006). Directive 2006/32/EC of the European Parliament and of the Council of 5 April 2006 on energy end-use efficiency and energy services and repealing Council Directive 93/76/EEC (Text with EEA relevance; version: 11/12/2008). Retrieved from [Link]
12. Freire-González, J., & Puig-Ventosa, I. (2015). Energy efficiency policies and the Jevons paradox. International Journal of Energy Economics and Policy, 5(1), 69. [Google Scholar]
13. Gkonis, N., Arsenopoulos, A., Stamatiou, A., & Doukas, H. (2020). Multi-perspective design of energy efficiency policies under the framework of national energy and climate action plans. Energy Policy, 140, 111401. [Google Scholar] [CrossRef]
14. Hajiyev, N., Smoląg, K., Abbasov, A., & Prasolov, V. (2020). Energy War Strategies: The 21st Century Experience. Energies, 13(21), 5797. [Google Scholar] [CrossRef]
15. Hartwig, J., Kockat, J., Schade, W., & Braungardt, S. (2017). The macroeconomic effects of ambitious energy efficiency policy in Germany–Combining bottom-up energy modelling with a non-equilibrium macroeconomic model. Energy, 124, 510-520. [Google Scholar] [CrossRef]
16. Hrytsenko, L. L., Roienko, V. V., & Boiarko, I. M. (2018). Institutional background of the role of state in investment processes activation. Financial and credit activity: problems of theory and practice, 1(24), 338-344. [Google Scholar] [CrossRef]
17. Ibragimov, Z., Lyeonov, S., & Pimonenko, T. (2019). Green investing for SDGS: EU experience for developing countries. Economic and Social Development: Book of Proceedings, 867-876. [Google Scholar]
18. Ibragimov, Z., Vasylieva, T., & Lyulyov, O. (2019). The national economy competitiveness: effect of macroeconomic stability, renewable energy on economic growth. Economic and Social Development: Book of Proceedings, 877-886. [Google Scholar]
19. Ince, R. (2019). Local variations in implementing energy-efficiency policy: How third sector organisations influenced cities’ responses to the green deal. Social policy review 31: Analysis and debate in social policy,197-220. Retrieved from [Link]
20. Karintseva, O., & Benetyte, R. (2018). Estimation of Efficiency of State Regulation in Economic Restructuring Based on the Environmental Factor. SocioEconomic Challenges, 2(1), 91-102. [Google Scholar]
21. Kern, F., Kivimaa, P., & Martiskainen, M. (2017). Policy packaging or policy patching? The development of complex energy efficiency policy mixes. Energy Research & Social Science, 23, 11-25. [Google Scholar] [CrossRef]
22. Kim, Y. J., & Brown, M. (2019). Impact of domestic energy-efficiency policies on foreign innovation: The case of lighting technologies. Energy Policy, 128, 539-552. [Google Scholar] [CrossRef]
23. Kolosok, S., Dementov, V., Korol, S., & Panchenko, O. (2018). Public policy and international investment position in european integration of ukraine. Journal of Applied Economic Sciences, 13(8), 2375-2384. [Google Scholar]
24. Kolosok, S., Myroshnychenko, I., & Zakharkina, L. (2020). Open data in electrical energy balancing of ukraine: Green deal and security aspects. Paper presented at the CEUR Workshop Proceedings, , 2732 270-281. Retrieved from [Link]
25. Kotenko, N. V., Serdiuk, S. G., & Saltykova, A. V. (2015). Marketing management tools of funding and promotion services of non-governmental organizations. Marketing and Management of Innovations, (4), 20-33. Retrieved from [Link]
26. Labandeira, X., Labeaga, J. M., Linares, P., & López-Otero, X. (2020). The impacts of energy efficiency policies: Meta-analysis. Energy Policy, 147, 111790. [Google Scholar] [CrossRef]
27. Lupenko, Y. O., Gutorov, A. O., & Gutorov, O. I. (2018). Investment ensuring for development of integration relations in the agricultural sector of Ukrainian economy. Financial and credit activity: problems of theory and practice, 4(27), 381-389. [Google Scholar] [CrossRef]
28. Makarenko, I., & Sirkovska, N. (2017). Transition to sustainability reporting: evidence from EU and Ukraine. Business Ethics and Leadership, 1(1), 16-24. [Google Scholar] [CrossRef]
29. Mentel, G., Vasilyeva, T., Samusevych, Y., & Pryymenko, S. (2018). Regional differentiation of electricity prices: Social-equitable approach. International Journal of Environmental Technology and Management, 21(5-6), 354-372. [Google Scholar] [CrossRef]
30. Morton, C., Wilson, C., & Anable, J. (2018). The diffusion of domestic energy efficiency policies: A spatial perspective. Energy Policy, 114, 77-88. [Google Scholar] [CrossRef]
31. Muradov, A.J., Hasanli, Y. H., & Hajiyev, N.O. (2019). World Market Price of Oil: Impacting Factors and Forecasting. Springer International Publishing. XVI, 184. [Google Scholar] [CrossRef]
32. Panchenko, V., Harust, Yu., Us, Ya., Korobets, O., & Pavlyk, V. (2020). Energy-Efficient Innovations: Marketing, Management and Law Supporting. Marketing and Management of Innovations, 1, 256-264. [Google Scholar] [CrossRef]
33. Pavlyk, V. (2020a). Assessment of green investment impact on the energy efficiency gap of the national economy. Financial Markets, Institutions and Risks, 4(1), 117-123. [Google Scholar][CrossRef]
34. Pavlyk, V. (2020b). Institutional Determinants Of Assessing Energy Efficiency Gaps In The National Economy. SocioEconomic Challenges, 4(1), 122-128. [Google Scholar] [CrossRef]
35. Realini, A., Maggiore, S., Zagano, C., Oikonomou, V., & Hofman, E. (2019). The need of harmonization in energy efficiency policies: Building a taxonomy for european industry. Paper presented at the Eceee Summer Study Proceedings, 643-648. Retrieved from [Link]
36. Reuter, M., Patel, M. K., & Eichhammer, W. (2019). Applying ex post index decomposition analysis to final energy consumption for evaluating european energy efficiency policies and targets. Energy Efficiency, 12(5), 1329-1357. [Google Scholar] [CrossRef]
37. Salihaj, T., & Pryimenko, S. (2017). Modification of the International Energy Agency Model (the IEA Model of Short-term Energy Security) for Assessing the Energy Security of Ukraine. SocioEconomic Challenges, 1(4), 95-103. [Google Scholar] [CrossRef]
38. Scholten, D., Criekemans, D., & Van de Graaf, T. (2019). An energy transition amidst great power rivalry. Journal of International Affairs, 73(1), 195-204. [Google Scholar]
39. Shkarupa O. V., & Chasnyk, O. M. (2014). Sustainable energy management in a «green» economy – the case of Ukraine. Marketing and Management of Innovations, 4, 192-199. [Google Scholar]f
40. SSSU. (2020). Statistical Information. The official website of the State Statistics Service of Ukraine. Retrieved from [Link]
41. Sun, H., Edziah, B. K., Sun, C., & Kporsu, A. K. (2019). Institutional quality, green innovation and energy efficiency. Energy policy, 135, 111002. [Google Scholar] [CrossRef]
42. Wiese, C., Larsen, A., & Pade, L. L. (2018). Interaction effects of energy efficiency policies: a review. Energy Efficiency, 11(8), 2137-2156. [Google Scholar] [CrossRef]
43. Yatsenko, О. М., Yatsenko, O. V., Nitsenko, V. S., Butova, D. V., & Reva, O. V. (2019). Asymmetry of the development of the world agricultural market. Financial and credit activity: problems of theory and practice, 3(30), 423-434. [CrossRef]