Digital finance and inequality in renewable energy technology innovation

Abstract

The development of renewable energy is a strategic deployment to address climate change and ensure energy security. Frontier research generally focuses on the impact of renewable energy development and technological innovation on environmental protection and neglects the inequality in renewable energy technology innovation. This paper constructs a renewable energy technology innovation inequality index and analyzes the impact of digital finance on renewable energy technology innovation inequality using panel data from 30 regions in China from 2011 to 2018. The study found that digital finance can alleviate inequality in renewable energy technology innovation. The mechanism test results show that digital finance can optimize green credit allocation, promote technology flow, and optimize energy consumption structure, thus reducing inequality in renewable energy technology innovation. Further analysis shows that the differences in local government governance, environmental regulation, financial supervision, marketization, digital divide, and renewable energy category affect the relationship between digital finance and inequality in renewable energy technology innovation. This paper clarifies the relationship between digital finance and inequality in renewable energy technology innovation and provides new ideas for renewable energy technology innovation.