The link between energy consumption and environmental pollution.How effective is renewable energyin reducing CO2 emissions? the case of Greece

Abstract

This paper examines the impact of renewable and non-renewable energy consumption on environmental pollution, proxied by carbon dioxide (CO2) emissions, in Greece over the period 1990-2016. The empirical findings indicate the existence of one cointegration relationship among variables. In the long-run and short-run, renewable energy consumption has a negative effect on CO2 emissions and contributes substantially to the decrease of air pollution. On the other hand, there is a positive long-run and short-run effect of non-renewable energy consumption on CO2 emissions, meaning that environmental pollution is fundamentally caused by the use of non-renewable energy sources. Therefore, Greece should pay great attention to the development of renewable energy sources for addressing energy security, reducing carbon emissions and protecting the environment for future generations, by keeping a sustainable growth path. © 2018, Nova Science Publishers, Inc.. All rights reserved.