A study of the energy efficiency formula for the development of economic progress policies in Greece

ABSTRACT

In this article, we try to study the efficiency of energy indicators using the method of the analysis of the efficiency formula in 27 countries of EU with data drawn from Eurostat for the years from 1995 to 2014. Then, using the correlation of these data with the GDP of each country, we try to determine the energy policy of Greece as well as in each of EU countries. The novelty of this study is the division of the countries into two groups based on the contribution of industry to GDP. Our motivation for this research is the climate change and the need for redesigned policies to improve energy and economy efficiency. Findings indicate that such a quantitative analysis can provide useful measurable knowledge for policy makers in each of the 27 countries of the EU separately. The results indicate that EU policies can be smart, diversified, complementary and complete, aiming investment in the green economy.

KEYWORDS:

• Energy indicators
• formula assessment
• benchmarking – 27 E.U.
• adoption of energy policy

Disclosure statement

No potential conflict of interest was reported by the author(s).

Nomenclature

Table