Abstract
This study examined the impact of renewable energy development (RED) on carbon emissions (CO2) and role of power exchange in this process. Using 2006–2020 data from 30 provinces in China, we constructed both a bidirectional fixed-effect and panel-threshold models to re-evaluate the impact of RED on CO2. Firstly, the results revealed that RED significantly reduced CO2, with an increase of 1 unit in RED leading to a decrease of 0.79 units in CO2. Additionally, RED exhibits different decarbonization effects at various stages of development. Secondly, green technological innovation, financial development, and fossil fuel dependency were the single-threshold variables, with threshold values of 7.9230, 0.1088, and 3.0538, respectively, Beyond these threshold values, the decarbonizing effect of RED were substantially enhanced. Finally, the decarbonizing effect of RED was moderated by power exchange. Our research results provide compelling evidence for the role of RED in reducing CO2 and offer different directions for regional initiatives aimed at CO2 reduction.
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