Abstract
This study investigates the stochastic properties of renewable energy consumption series across 11 Commonwealth of Independent States countries through the period of 1990-2015. For this purpose, along with traditional stationarity analysis recently improved unit root techniques which allows for nonlinear adjustments in the data generating process are used in this paper. Based on our findings we may conclude that, consideration of nonlinearity in regression process causes to more frequent non rejection of the null hypothesis of stationarity. It implies that ignoring possible nonlinearities in time series regression process may lead to some misleading results. Hereby, fluctuations in global energy supply and trade systems influence renewable energy consumption in nonlinear pattern and policy-makers should take it into consideration in terms of proper energy policy implication. Keywords: Renewable energy consumption, Panel Unit Root, Nonlinearity, ESTAR Panel Unit Root JEL Classifications: C22, Q20, P28 DOI: https://doi.org/10.32479/ijeep.8617
Highlights
Raising awareness on environmental degradation issues such as global warming or air pollution, which are mostly based on consumption expansion of fossil fuels as well as increase in demand and dependence of countries on traditional energy resources imports, accelerated the efforts of governments to develop new and alternative ways of energy supply process
This paper investigates the stochastic features of renewable energy consumption for 11 Commonwealth of Independent States (CIS) countries spanning the period 1990-2015
If we allow for nonlinearities in estimating process it will cause to more frequent non rejection of the null hypothesis of non-stationarity nearly in each country
Summary
Raising awareness on environmental degradation issues such as global warming or air pollution, which are mostly based on consumption expansion of fossil fuels as well as increase in demand and dependence of countries on traditional energy resources imports, accelerated the efforts of governments to develop new and alternative ways of energy supply process. Similar results are obtained by Payne (2010), Fang (2011), Tiwari (2011), Bilgili and Özturk (2015), Ozturk and Bilgili (2015), Bhattacharya et al (2016), Hassine and Harrathi (2017), Ozcan and Ozturk (2019). These studies provide verification of causality running from renewable energy consumption to real output. Much the same findings are obtained by Sadorsky (2009) and Cho et al (2015) arguing that expanding in real GDP will increase the renewable energy usage in emerging countries
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