An analysis of renewable energy consumption in Visegrád countries

Abstract

Abstract The ‘Visegrád Group’ countries are fundamentally distinct from one another. There is less public backing for green initiatives like climate protection and renewable energy in Western Europe. Since the change began, the region has made substantial efficiency gains. Descriptive statistics and Principal Component Analysis (PCA) were employed to quantify the various energy usage patterns across the V4 countries. Our analysis revealed that in Slovakia, Poland, and the Czech Republic, renewable energy development had accelerated by 149%, 116%, and 87% relative changes, respectively. Hungary has stalled or declined. These results suggest that the V4 countries have made considerable progress in transitioning to renewable energy sources. However, further steps are needed to ensure Hungary can make the same progress as its neighbours. According to the findings of our studies and forecasts, substantial levels of consumption of renewable energy will be observed in the following industries in the year 2022: Electricity usage will rise by 29.78% in Hungary and 22.45% in Slovakia; in the heating and cooling sector, it will rise by 24.60% in Czechia and 16.71% in Poland; and in the transportation sector, it will grow by 8.44% in Hungary and 7.71% in Slovakia. To keep up with expected increases in energy consumption, the V4 countries will need to expand the proportion of their economies that use sustainable and alternative resources. Furthermore, we propose six strategies to tackle increased energy demand and major obstacles to transitioning towards renewable energies. This will ensure energy independence and pave the way to carbon neutrality by 2050. While the EU has high targets for renewable energy, the papers show that the V4 nations each have their own set of ambitious goals.