Renewable Energy Resources and the Fight against Poverty

Abstract

The main objective of the Sustainable Development Goals (SDGs) is to eradicate poverty in all its manifestations. While global poverty continues to decline, development has slowed and remains uneven globally. The research will be crucial in defining pathways out of poverty to ensure that no one remains impoverished. It is worth considering worldwide experiences and the many roads out of poverty in this regard, with a particular emphasis on the role of solar energy in poverty alleviation. This study aims to contribute to the growing discussion and critical knowledge about the role and nature of solar energy in reducing poverty incidence among Pakistani households. In current study, the data was collected from 570 rural households living in rural areas of Punjab province using a multiple-stage random sampling technique. The headcount index was used to determine the prevalence of poverty in the selected households, and the analysis was conducted using a binary logistic regression model. The study developed seven hypotheses, and its empirical findings reveal that all of them are accepted, demonstrating that these indicators significantly affect poverty incidence in the studied region. More precisely, households with access to solar energy will have a lower likelihood of falling into poverty, and this finding is statistically significant. Policymakers can foster new business prospects by providing free education and training on emerging renewable energy technologies. Such interventions would enable the government to reinvest the fruits of economic growth which assist the poor.