In this thesis we will attempt to study the rate of renewable energy source (RES) penetration in the world energy mix and examine whether the “catch-up” economic hypothesis (i.e., convergence) holds in the case of RES diffusion. Our testing will use datasets on energy statistics from several countries around the world. The indicators that we will use are the RES percentage of the primary energy consumption and the RES percentage of the electricity generation per country. The adopted methodology is the one introduced by Philips and Sul (Phillips & Sul, 2007) which is a non-linear time-varying model that allows transitional heterogeneity and transitional divergence. Furthermore, using this methodology we will attempt to group divergent countries into convergence clusters by means of a simple empirical algorithm.
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