APPLICATION OF PRINCIPAL COMPONENT ANALYSIS IN ASSESSING ENERGY SUSTAINABILITY OF SELECTED COUNTRIES: A CASE STUDY

Abstract

Global warming is a pressing global issue, with far-reaching consequences for the environment and human society. One critical aspect of combating global warming is reaching a high level of energy sustainability. This study investigated the energy sustainability of selected countries and compared their energy sustainability using selected energy indicators. Former Yugoslav republics (Serbia, Bosnia and Herzegovina, Montenegro, North Macedonia, Slovenia and Croatia), and the 6 top ranked countries based on the Energy Trilemma Index, were used in the analysis. Those countries are Finland, Denmark, Sweden, Canada, UK, and Switzerland. In the analysis 19 selected energy indicators were obtained from various databases like Our World in Data, EIA, and UN-stats year pocket box. Principal Component Analysis was conducted, and the result produced four clusters. The first cluster comprises Serbia, Bosnia, Montenegro, and North Macedonia. The second cluster includes Slovenia, Croatia, and the United Kingdom. The third cluster consists of Switzerland, Finland, Denmark, and Sweden. The fourth cluster is represented solely by Canada. This study's findings shed light on the energy sustainability profiles of these countries, revealing commonalities and differences within and between clusters. Such analysis increases the energy sustainability landscape understanding and can provide insights into policy recommendations and best practices.