Exploring the interconnected dynamics of energy efficiency and socioeconomic factors in European economic development using SOM
Year: 2024
Type: article
Abstract: Purpose: Today’s challenges underscore the importance of energy across all segments of life. This scientific paper investigates the multifaceted relationship between energy efficiency, energy import reliance, population heating access, renewable energy integration, electricity production capacities, internet utilization, structural EU funds, and education/training within the framework of economic development. Methodology: Using data from selected European countries and employing self-organizing neural networks (SOM) and linear regression, this research explores how these interconnected factors influence the journey toward a sustainable and prosperous economic future. Results: The analysis revealed a strong connection between energy efficiency and numerous socioeconomic factors of modern times, with most of these connections being non-linear in nature. Conclusion: As countries work toward sustainable development goals, prioritizing energy efficiency can contribute to improved quality of life, economic growth, and environmental sustainability.
Authors: Sonja Brlečić Valčić, Ana Markuz
Institution: University of Zadar
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4402286971