Exploring Empirical Correlations among Energy Efficiency, Energy Productivity, Energy Use and Economic Development in EU Countries

Abstract

Energy is a crucial component of industrial development and the provision of essential services, as well as an essential element of economic development. Therefore, improving the integration of environmental and energy-efficiency concerns into environmental, economic, and social policies is an essential task for all nations. During the last decades, the trends in energy consumption are determined by economic activities, demographics, lifestyle changes, and weather. In these contexts, the objective of the current research will be to analyse and evaluate the correlations between energy efficiency, energy productivity, energy use and economic development using the linear regression method. Based on the results and the validated/invalidated hypothesis, the paper will propose, also, ways and means for a positive correlation and influence among the studies variables.