"Do High Oil Prices Obstruct the Transition to Renewable Energy Consumption?" scientific work, co-authored by Shahriyar Mukhtarov, head of the World Economy Department at Baku Engineering University (BEU), has been awarded the 2nd place in the "Victory Award in Science - 2021" competition.

The competition was organized by the Science Development Foundation (SDF) under the President of the Republic of Azerbaijan, the Azerbaijan National Academy of Sciences (ANAS) and the Islamic World Educational, Scientific and Cultural Organization in connection with Victory Day and World Science Day. 

The competition was launched in October 2021. The examination of scientific works included in the competition lasted from October 12 to November 5. The experts noted the high scientific level of works.

It should be noted that the article entitled “Do High Oil Prices Obstruct the Transition to Renewable Energy Consumption?” analyzes the impact of economic growth, carbon dioxide (CO2) emissions, and oil price on renewable energy consumption in Azerbaijan for the data spanning from 1992 to 2015, utilizing structural time series modeling approach. The full text of the article can be read at https://www.mdpi.com/2071-1050/12/11/4689 .

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