Measuring Renewable Energy Development in the Eastern Bloc of the European Union

This paper aims to investigate the energy development in terms of renewable energy in the Eastern Bloc European Union member states. Energy is a topic of planetary implications and the analysis of the development of renewable energy sources (RES) in parts of the world where the fossil fuels are scarce is of tremendous importance. In the first section, the paper concisely explores the energy landscape of the European Union (EU), revealing important concerns. The second section introduces an index of renewable energy development (IRED) which captures the complexity of the development of RES and is based on two components, each containing three factors built on efforts and outcomes in RES development. IRED is further applied on a cross-country analysis based on the Eastern Bloc of the EU member states for 2005-2015 interval, revealing the best and worst performers. The application of IRED might contribute to a better understanding of the needed efforts required by different countries in their quest towards energy security, efficient energy use and emissions control. The findings of this paper might conduct to the identification of the best practices which could be spread throughout EU and might contribute to a more rigorous development of policymaking in the energy area.