The impact of wind energy on economic growth in the green economy: The case of the European Union and Turkey

Recently, environmental perspectives have been added to the global competitive race of countries. One of the determining factors in bringing environmental perspectives to the fore is energy and energy-related policies. He developed the concept of green economy as an alternative policy proposal to liberal systems integrated with energy dependency and energy efficiency, ecological balance, which are obstacles to countries in sustainable growth. Fossil energy, which is an important production factor in economic growth, is the most widely preferred energy source in the world. However, with the recent decrease in fossil energy reserves, environmental externalities, and climate change factors that have shaken the competitive balance of countries with fossil energy reserves, countries with high foreign dependence on energy have found alternative solutions in green transformation. For predictable and rational policies in the long term, the orientation towards wind energy, which is one of the renewable energy sources compatible with domestic and ecological balance, has increased. In this study, between 2007-2020, European Union and Turkey's energy efficiency, energy import dependency, wind energy production, energy-related carbon emission amount variables of the European Union and Turkey between 2007-2020; According to the results of the data analysis, its reflections on the gross domestic product and the applicability of sustainable green transformation steps were evaluated. In the study, European Union countries were evaluated with panel data analysis and Granger causality analysis; Turkey was evaluated according to Granger causality analysis. According to the data analysis results, a long-term weak and negative relationship has emerged between wind energy production, energy efficiency has a long-term negative effect on economic growth, and energy import dependency and economic growth in European Union countries. There is no relationship between the amount of carbon emissions originating from energy and economic growth in the selected periods. The causality analysis results support the panel data analysis results of European Union countries in the short term. For Turkey, a causal relationship has been reached from wind energy production to economic growth in the short term, from energy import dependency to energy efficiency, from energy-related carbon emissions to wind energy production, and for Turkey, the variables are indirectly related to each other. When the analysis results are evaluated with the energy policy backgrounds of the samples, it is seen that wind energy generation is an effective tool in the green transformation roadmap of the European Union and Turkey. It is important to develop the market by encouraging investments in wind energy generation and to distribute the energy fairly to consumption channels after production. For this reason, it has been concluded that it is necessary to implement policies to ensure energy supply security for the European Union and Turkey.