Affiliation:
1. Department of Political Science Roma Tre University Rome 00145 Italy
2. Department of Political Science “Niccolò Cusano” University Rome 00166 Italy
3. Department of Legal and Economic Studies Sapienza – University of Rome Rome 00185 Italy
Abstract
The aim of the article is to analyze the evolution of oil prices and renewable energy production in Italy during the coronavirus disease 2019 pandemic crisis with daily data for the period January 2020–September 2020 through new time series techniques (wavelet coherency analysis and quantile coherency analysis). The applied results show that disaggregated renewable energy sources (solar, hydro, wind, and geothermal) drive oil prices positively, with the exemption of biomass, which drives oil prices negatively in the long term. Establishing a link between renewable energies and oil prices allows significant policy recommendations, given the geopolitical framework and the energy national budget.