This paper aims at examining the relationship between energy consumption deriving from renewable energy sources, carbon dioxide emissions and economic growth expressed as GDP per capita. Data comes from the International Energy Agency (IEA) and BP Statistical Review of World Energy Consumption. The used dataset involves European countries including Greece. The analysis is based on descriptive statistics and hypothesis test and reveals that all variables are related, suggesting the importance of renewable energy in promoting economic growth. The following is consistent with other papers reviewed in this study.