Table 1

Descriptive statistics

VariablesUnitMeanStd. devMinMax
Solar PV module priceUS dollars per watt2.962.220.579.77
Imports of solar PV panelsMillion US dollars2378.453310.6535.8017473.85
GDP per capitaThousand US dollars42.6216.073.0776.55
Population densityCapita per square kilometers166.93142.212.69523.53
Public budget for R&D in PVUS dollars per capita0.820.980.027.58
Feed-in tariff for solar PVBinary 0/10.750.4401
Cumulative installed PV capacityWatt per capita61.6296.800480.18
Technological development in PVNumber of inventions285.59469.312.112136.67
Crude oil import priceUS dollars per barrel88.7619.0758.83117.78
Political stability index[−2.5; 2.5]0.570.71−1.631.42
Renewable energy consumptionPercent16.7011.202.6953.25
Per capita carbon dioxide emissionsMetric tons per capita9.324.224.3119.22

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