Economic analysis of conventional and renewable sources: Case study of OECD countries

Humans started to give much more importance to the new and renewable resources as a result of; the depletion of fossil fuels depending on the consumption of energy, the damage which is given to the environment and atmosphere with the unconsciously usage of non-renewable resources as nuclear power. It has become obligatory to obtain energy from the least harmful resources for a livable world and a sustainable environment. In this study, Current situation and distribution of energy resources of some member countries of OECD (USA, Germany, Austria, Denmark, Holland, England, Ireland, Spain, Sweden, Switzerland, Italy, Japan, Canada, Turkey) is examined and a forecast is made for the future of the situation. The effect of the consumption of conventional and renewable energy resources on Gross Domestic Product (GDP) is searched with the Panel Cointegration Analysis method. Datas used in the study involve the period from 1982 to 2011. At the end of the econometric analysis (study), it is understood that independent variables of non-renewable and renewable resources energy consumptions has an effect on dependent variable GDP.