A renewable energy diffusion research

Big differences between countries are observed in terms of the market share of renewable energy in the total energy supply. A panel data research is performed in order the indentify the factors that affect the market share of renewable energy. Previous literature indicates possible effects of oil prices, R&D input and output factors, share of renewable energy and a number of geographical and demographic differences between countries. This research concludes that differences between countries lead to differences in the diffusion of renewable energy and the data research finds evidence for relations described in previous literature. This outcome corresponds with the probit or rank model of diffusion which states that different entities have different characteristics and perceptions towards innovations that affect the diffusion process.