Energy demand response to the dynamics of the currency valuation: Evidence from G7 countries

Are economic complexity and eco-innovation mutually exclusive to control energy demand and environmental quality in E7 and G7 countries?

Role of green innovation technologies and urbanization growth for energy demand: Contextual evidence from G7 countries

Exchange rate and energy demand in G7 countries: Fresh insights from Quantile ARDL model

The prime objective of this article is to examine the heterogeneous impacts of economic complexity on renewable energy demand within a panel of G7 and E7 countries. One of the important contributions of this research is to explore the role of overall structural change and economic factors for renewable and cleaner energy in developed and emerging economies. The existing literature points to scant research about the impacts of economic complexity on energy transformation and renewable energy adoption. During recent years, the G7 and E7 countries have encountered enormous competition in manufacturing and industrialization and are also experiencing global pressure from both climate change and Sustainable Development Goals (SDGs) for the promotion of renewable energy infrastructure. Taking into consideration the heterogeneity of issues, the authors apply the Westerlund cointegration and heterogeneous panel data techniques (FGLS, system GMM, FMOLS, and DOLS) for an in-depth, empirical analysis. Interestingly, empirical findings indicate that economic complexity affects renewable energy demand from G7 and E7 countries. This paper documents that economic complexity is a policy factor for overall energy transformation and greener energy demand. This study recommends that complexity and structural change policies should be observed for cleaner and greener growth and overall greener energy promotion.

The demand for resources and energy increases as the global population grows, leading to increased ecological and carbon footprints. This study aims to contribute to the global sustainability agenda by assessing the impact of green energy projects, green energy finance, and green governance on reducing ecological and carbon footprints in G7 countries from 1990 to 2020. The findings reveal that there is a noteworthy negative association between ecological footprint, green governance, geothermal energy consumption, hydro-power consumption, and green energy finance. However, a significant positive correlation exists between ecological footprint and biofuels. Additionally, the outcomes lend support to the Environmental Kuznets Curve (EKC) theory in G7 nations. Carbon footprints are evaluated in this study as an alternate measure, and the results are similarly robust. These insights hold the potential to guide policy decisions and investment strategies, and promote the shift to a low-carbon economy by highlighting the connections between the adoption of green energies, green energy finance, green governance, and carbon and ecological footprint reduction, thus paving the way for a more equitable and sustainable future for all.

This article re‐examines the persistence in natural gas consumption using an alternative methodology. We compare the results of traditional panel unit root tests with those provided by Bahmani‐Oskooee et al., which allow for both sharp and smooth breaks. Our analysis uses data for the G7 countries over the 1965–2016 years. The empirical findings show that while traditional unit root tests with sharp breaks lean towards the non‐stationarity of the series for all the G7 countries, modeling breaks in our unit root testing methodology can assert that natural gas consumption is non‐stationary only for Canada, France, Italy, and USA. These results imply that, for the majority of our sample, energy demand management policies designed to shrink energy consumption will have temporary effects, as energy consumption will return to its trend path.

The G20 nations collectively accounted for a significant portion of global CO2 emissions due to their vast economies and rising energy demand. While some G20 nations have made substantial efforts to reduce their emissions through policies such as renewable energy incentives and carbon pricing, others may still heavily rely on fossil fuels for energy production and industrial processes. Therefore, this recent study endeavoured to investigate the relationship between nuclear energy consumption (NEC), crude oil (CO), and economic policy uncertainty (EPU) with CO2 emissions in three economic sectors of G20 nations. Despite voluminous research work conducted on mitigating CO2 emission, to the best of our understanding, this paper marks the inaugural endeavour to investigate the impact of the afore-mentioned variables in a three-sector model with emission across G20 countries. To achieve this objective, we carried out a range of examinations, encompassing panel unit root and cointegration tests, followed by panel DOLS, ARDL, and the Dumitrescu-Hurlin causality test, spanning the period from 1990 to 2022. The findings trace that agricultural growth reduces CO2 emissions, while manufacturing and service sector growth increases CO2 emissions in both the short and long run. The panel ARDL analysis shows that CO leads to an increase in carbon emissions in the short term, whereas NEC contributes to a reduction in emissions. In terms of the synergy between NEC and EPU, it is noteworthy to mention that the collective impact of increase in NEC and decrease in EPU reduces the emission in three sectors. Nevertheless, in the long term, EPU exhibits a negative correlation with emissions across three sectors. Hence, the current research proposes waning EPU as a deliberate strategy to reduce emissions under careful consideration of its potential effects and feasibility within broader economic and policy contexts.

Rising economic performance has enlarged energy demand, carbon emissions and global warming. Policymakers need to avoid global warming. Therefore, energy-growth nexus is important. This paper empirically investigates the relationship between energy consumption and economic growth for a panel of G20 countries over the period 1990-2016. For this purpose, the paper considers the panel cointegration and panel vector error correction model. Panel cointegration test set out a long-run equilibrium relationship. Long-run relationship is estimated using a Fully Modified OLS (FMOLS) and Dynamic OLS (DOLS). The results show that causality run from energy consumption to GDP. It is indicates that “growth hypothesis” is valid for G20 countries.

Long-term economic planning of combined cooling heating and power systems considering energy storage and demand response

This research attempts to explore the scale (trade openness), composition (export concentration) and technique effect (economic complexity) of international trade on energy use in the sample of G7 nations over the period 1970 and 2020 separately. To do that, we build up three empirical models based on the regression on population, affluence and technology approach. The analysis outcomes indicated a positive long-run link between per capita income, urbanization, trade openness, export concentration, economic complexity and energy use across the three models. The outcomes obtained from long-run estimations provide evidence that economic complexity and export concentration decreases energy consumption. Besides, empirical findings show that trade openness boosts energy use. Based on the detailed empirical research, the direction for the policy is that they should harness more strength on energy conservation by increasing the composition and technical effects of international trade. They should also focus on improving the countries’ economic freedom (trade openness) while maintaining energy consumption at a lower rate.

The economic structure of countries can influence economic growth, energy demand, and environmental footprints. However, the literature on economic complexity and ecological footprint (EFP) nexus is scarce. Besides, democracy is an important factor that may affect environmental policies and environmental sustainability. Hence, this paper investigates the effect of democracy, economic complexity, and renewable energy technology budgets on the EFP in G7 countries controlling income and financial development from 1985 to 2017. The findings from Westerlund (J Appl Econ 23:193-233, 2008) and other cointegration methods depict cointegration among variables. The long-run estimates from the continuously updated fully modified method unfold that economic complexity contributes to reducing the EFP. However, greater democratic accountability boosts the EFP figures rather than reducing them. On the flipside, renewable energy technology budgets and financial development are evidenced to mitigate EFP. Moreover, the study unveils a U-shaped linkage between economic growth and EFP, which indicates that an increase in income level will boost EFP. Further, the study found causality from economic complexity, democracy, and renewable energy budgets to EFP. Based on these findings, it is pertinent for the G7 countries to increase the manufacturing of sophisticated and complex products. In addition, enhancing renewable energy technology budgets is essential to ensure environmental well-being.

Chinese power structure in 2050 considering energy storage and demand response under high renewable power penetration ratio.

Optimal demand response resource exploitation for efficient accommodation of renewable energy sources in multi-energy systems considering correlated uncertainties

Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20

Synergetic planning method for energy stations, pipeline networks, and demand response