Abstract
ABSTRACT Efforts are underway to balance economic development and ecological preservation by transforming the energy structure. This study uses the Cobb-Douglas production function to examine the relationship between energy and economic growth. Through panel data and regression models, 32 countries are analyzed in terms of global energy consumption and economic development. Countries are further grouped based on energy intensity and economic level to explore dynamic relationships. Previous studies lacked understanding of this relationship under varying conditions, while this study proposes a novel approach. Results indicate a one-way relationship between renewable energy consumption and economic growth. Further analysis reveals that countries with higher energy intensity and economic level experience a negative impact on economic growth from increased renewable energy consumption. These research findings have implications for government decision-making.
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