Determinants of renewable and non-renewable energy demand and new trends in Peru

Abstract

Today, sustainable economic development is essential for a country, so it is necessary to act in the planning and efficient use of our resources and to achieve clean and renewable energy. The determinants of renewable and non-renewable energy demand are mainly based on economic growth, financial development and trade. Likewise, the impact of economic growth on energy demand considers that higher energy consumption leads to economic growth. In Peru, promoting energy planning and efficiency actions, as well as the generation and use of renewable energies for economic and energy development to be sustainable in the country. Therefore, this research analyzes the effect of tariffs, GDP and population on the demand for renewable and non-renewable energy in the period 2013 to 2020.