The Impact of R&D Investments on Renewable Energy Transition. A Panel Data Approach

The transition to renewable energy is one of the main objectives at the level of the European Union to answer the problems related to global warming. In this context, the main objective of this study is to analyze the role of one of the drivers that can contribute to the achievement of this objective, namely research and development expenditure. Thus, based on a diversified research methodology, which includes in particular comparative analysis, descriptive analysis, and econometric analysis, we tested the role of research and development expenditure in stimulating final energy consumption from renewables and biofuels in the industrial sector using related statistical data from 13 European Union Member States between 2006 and 2022. The main results showed that research and development expenditure have a positive impact on the consumption of renewable energy in the industrial sector.