Abstract:

This paper aims to provide a new approach for studying efficiency of investments in renewable energy field at macroeconomic level, from an econometric perspective. In the same time, it reveals three important aspects that should be followed when analyzing investments’ efficiency: economical, environmental and social issues, all conducting to the optimal decision of investing. For this reason, in the present work are proposed three linear regression models reflecting efficiency, which require the use of panel data. So, the proposed analysis is also a comparative one, as brings results for more than one country. Last but not least, it includes a new way of expressing investments’ efficiency, by using macroeconomic indicators.