Abstract
The purpose of this study was to analyse the impact of renewable energy use in Malaysia on the environment and economic growth and directing study findings to stimulate developing economies in Arab region to evaluate its economic returns from renewable energy uses. In this study, a set of time series data has been used which is ranging from the year 1989 to 2018. Moreover, the stationary of the data was tested through Augmented-Dickey Fuller (ADF) test. The normality test of the data distribution was also conducted with the help of Jarque Bera test. In addition to the methods, due to the existence of unit roots, an ARDL technique was also incorporated which tested the influence of renewable energy use on the growth and environment of Malaysia. The findings of the study imply that the renewable sources usage in Malaysia was found to have a positive and significant relation on the CO2 emissions in the case of Malaysia. Furthermore, the findings of the study also suggested that there is no significant relation between renewable energy use and GDP. Also, it was identified that there was no long-run influence in the variables and hence a short-run influences were recognised.
Highlights
Over the years, several countries around the world have achieved fast economic growth by leveraging industrialisation
The main rationale of this study is to examine the impact of renewable energy consumption on environment and economic growth of Malaysia
For the purpose of achieving this objective, researcher has conducted quantitative secondary study where the 30 years of prior data pertaining to the environment (CO2 emission), economic growth (GDP), and renewable energy consumption has been gathered
Summary
Several countries around the world have achieved fast economic growth by leveraging industrialisation. As a result of this, two major concerns have emerged; firstly, rapid reduction of non-renewable energy sources including diesel, petrol, coal and gas with their significant increase in consumptions, and secondly, the global warming that is affected by the emission of greenhouse gases like methane and carbon dioxide (CO2). According to Bhattacharya et al (2016), with the advent of different challenges related to energy consumption, the different nations around the world have gradually started to realise that economic growth from the expansion of industrialisation will not last longer if proper measures are not taken to reduce greenhouse gas emissions from fossil fuels, and air pollution
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