Analysis of factors affecting renewable energy production in the European Union and Türkiye with panel data

This thesis aims to analyze the factors affecting renewable energy production in the European Union and Türkiye using panel data techniques. As fossil fuels are limited and have detrimental environmental impacts, renewable energy sources are becoming increasingly significant. The study scrutinizes the factors and strategies aimed at enhancing the use of these sources. The initial sections of the thesis provide an overview of the concept of renewable energy and major sources such as solar, wind, hydro, bioenergy, and geothermal energy. Subsequently, the thesis compares renewable energy policies and practices in Türkiye and the EU. Türkiye's energy policies and incentive mechanisms are detailed, while the Europe Union's Green Deal and energy strategies are analyzed. This section covers the renewable energy investments in both regions and the economic, technological, and political factors influencing these investments. In the analysis section, specific parameters affecting renewable energy production are detailed. These parameters include the size of the energy market, technological developments, gross domestic product (GDP), population, energy consumption, foreign direct investments (FDI), and energy sector credits. The impact of these factors on renewable energy production is analyzed using statistical data. In conclusion, the study emphasizes the importance of policies, incentives, and technological investments necessary for the effective use and dissemination of renewable energy sources. Recommendations are made to increase renewable energy production in the Europe Union and Türkiye, highlighting the critical role of these measures in enhancing energy security, supporting economic development, and ensuring environmental sustainability.