Abstract
In traditional context, fossil fuel energy consumption is observed as non-renewable sources and contributing its major part for the energy source in the world economy. However, a new term under the title of renewable energy source is also examined and studied too. The focus of this paper is to investigate the impact of fossil fuel energy and renewable energy sources on the factor of climate change. For the measurement of climate change, overall six dimensions were added in the empirical analyses. The time period for the study was 1987 to 2013 and data was collected from World Development Indicator WDI. Findings for the regression analyses reveal that climate change in terms of CO2 emissions from liquid fuel consumption (kt) or C1 is directly influenced by both fossil and renewable energy, and same trend is found for CO2 emissions (kt); C2. Meanwhile, the third indicator of climate change C3 or CO2 emissions (kg per 2010 US$ of GDP) is negatively affected by renewable energy. Furthermore, C4 (CO2 emissions from gaseous fuel consumption (% of total)) is directly influenced by both of the energy sources in Thailand. Additionally, the trends in C5 is found to be positively determined by both fossil fuel and renewable energy, while their negative and significant impact is observed for C6; CO2 emissions from transport (% of total fuel combustion). Future research studies may consider the sub division of energy sources in both public and private sectors. Keywords: Fossil fuel, renewable energy, climate change, carbon emission, Thailand. JEL Classifications: Q54, Q15, Q56, Q18 DOI: https://doi.org/10.32479/ijeep.10695
Highlights
For the increasing threat like global warming, carbon emission and its association with the energy consumption is among the most cited areas in the field of environmental economics
As per the above discussion, this paper has investigated the role of fossil and renewable energy in determining the overall trends in climate change for the economy of Thailand
Fossil fuel mean score is three time higher than the renewable consumption, showing that majority of the Thailand economy is depending upon the traditional ways for the energy consumption in both public and private sectors, house hold consumptions and other commercial activities
Summary
For the increasing threat like global warming, carbon emission and its association with the energy consumption is among the most cited areas in the field of environmental economics (i.e. see the findings of Chang, 2010; Jeswiet and Kara, 2008; Ozturk and Acaravci, 2010; Shahzad et al, 2017; Shiyi, 2009; Zhang and Cheng, 2009). These economies have increased their research and development share, feed-in-tariffs and providing the subsidies to different industries for using renewable sources (Topcu and Tugcu, 2019) Both theoretical and empirical studies are showing their discoveries for energy consumption and climate change relationship. Waheed et al (2019) aim to contribute the literature survey in the field of carbon emission, energy consumption, and economic growth For attaining this objective, authors have observed the trends in targeted variables in developing and developed economies while providing the title of discussion for empirical conclusion, and modelling methods. Nguyen and Kakinaka (2019) have worked for providing the fruitful recommendations for renewable energy consumption in lowering the issues for the climate change To achieve this task, it is widely recommended to create a balance between economic growth and environmental degradation. The remaining discussion of this papers covers the title like, discussion about the variables and methods in part 2, discussion of the results in part 3, and conclusion under part 4
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