Advancing sustainable growth and energy transition in the United States through the lens of green energy innovations, natural resources and environmental policy

Abstract

The United States (US) is recognized as a major contributor to greenhouse gas emissions globally, due to its extensive resource utilization. However, sustainable development can be achieved with the advent of technological advancements, resource management, and effective environmental policy. This study evaluates the role of green energy innovations (GENI), natural resources (NRSS), and environmental policy (ENPY) in forecasting green growth and energy transition in the US. A recently introduced Fourier quantile causality framework is used to analyze the quarterly data ranges from 1990-Q1 to 2020-Q4. The results indicate that GENI, NRSS, and ENPY have substantial predictive capabilities for green growth and energy transition in the US, particularly in higher quantiles, promoting sustainable development. Additionally, ENPY reinforces the positive impacts of NRSS and GENI on energy transition and green growth. The study highlights different policy points to stimulate green growth and energy transition in the US to ensure sustainable development.