Towards Green Economics and Society: Exploring the Efficiency of New Energy Generation

Abstract

In recent years, solar and wind energy have been increasingly abandoned due to the blind expansion of the new energy industry. Due to the competitive relationships between different types of new energy, reasonable industrial development planning needs to be implemented to not only save the cost of government subsidies but also clarify the investment direction of social capital. Based on the panel data of OECD countries between 2006 and 2018, the stochastic frontier analysis (SFA) was used to measure the efficiency of new energy generation (NEG) and the influencing factors were analyzed in this paper. Results were as follows: the efficiency of NEG in OECD countries is improving; the efficiency of NEG is positively correlated with technical innovation, government policies, economic level, and education level and negatively correlated with urbanization. Based on the empirical results of this study, problems in the development of the new energy industry have been discussed and suggestions to improve the efficiency of NEG have been proposed.