The impact of biomass production on economic growth at the EU level

Abstract

As the European Union (EU) strives for sustainable economic growth and renewable energy sources, this study investigates the critical relationship between biomass production and economic development. Using rigorous econometric analysis, it was explored the impact of biomass production on GDP per capita as a proxy for economic growth at the EU level. Biomass, as a renewable and environmentally friendly energy source, holds significant potential for shaping the economic landscape of the EU member states. The research employs a comprehensive dataset and econometric models to analyze the dynamic interactions between biomass production and GDP per capita, while considering other relevant economic and environmental factors. By focusing on the EU as a collective entity, the aim of the paper is to provide a holistic view of how biomass production influences economic growth in a region committed to sustainability and reduced carbon emissions. The findings of this study are expected to offer valuable insights for policymakers, energy industry stakeholders, and researchers, contributing to the ongoing discourse on the feasibility and benefits of biomass as a driver of economic growth within the EU. The results will illuminate the multifaceted relationship between renewable energy strategies and economic well-being, guiding future decisions on sustainable energy policies at both regional and national levels. Through this research, the aim is to deepen the understanding of the complex dynamics between biomass production and economic growth in the context of the EU, ultimately serving the broader goals of energy sustainability, reduced environmental impact, and economic prosperity.