The Impact of Renewable Energy Policies on Carbon Dioxide Emissions in the Latin American countries-A PVAR approach

Abstract

This article analyzes the impact of renewable energy policies on carbon dioxide emissions (CO2) in nine Latin American countries, in a period of 1991 to 2012. The Panel Vector Auto-Regressive (PVAR) was utilized. The results revealed that the renewable energy policies reduce the environmental degradation (CO2 emissions) in -0.0109, and the consumption of renewable energy -0.0231, while the economic growth and consumption oil increase the emissions in 0.9082 and 0.1437 respectively. These empirical findings will help the policymakers develop appropriate renewable energy policies, as well as help to advance the literature that approaches the impact of renewable energy policies on environmental degradation in the Latin America region.