Measuring Renewable Energy Productivity in EU Countries with the Hicks-Moorsteen Index

This study aims to investigate the renewable energy (RE) productivity of European Union (EU) countries for 2013-2022. For this purpose, the study focuses on 26 EU member states and uses the Hicks-Moorsteen productivity index (HMPI) method. Because of the analysis, it is determined that Luxembourg, Malta, the Netherlands, Belgium, and Ireland are the leaders in RE productivity, while the RE productivity of other countries, except Hungary, Romania, Latvia, Croatia, and Bulgaria, has increased in the said period. Moreover, the HMPI values of EU countries for 2013-2022 vary between 0.968 and 1.182. When analyzing the annual averages by country, the average HMPI value for the relevant period is 1.040. Considering the index components, the increase in productivity across the EU is primarily driven by technological change (1.025), whereas efficiency change (1.018) contributes less to this increase.