Renewed Growth Research Articles

A Comparative Analysis of Measured and Simulated Data of PV Rooftop Installations Located in Poland

In recent years, photovoltaics (PVs) is the main driver of the renewable energy market growth in Poland. The number of photovoltaic installations, most of which are rooftop prosumer systems, is consistently growing. Therefore, the determination of the applicability and feasibility of photovoltaic systems under different climate conditions is of great significance. This study presents the performance analysis of four prosumer photovoltaic installations situated in the Eastern part of Poland, Lublin Voivodeship. The influence of various tilt angles, ranging from 19° to 40°, and azimuths (south, east, south–east, and east–west) on the final yield have been determined under one year of operation (2022). The average yearly final yield was found to be 1022 kWh·kW−1, with the highest value obtained for the installation oriented towards the south, equal 1079 kWh·kW−1. Then, the PV systems were simulated by the use of four specialized photovoltaic software: DDS-Cad 16, PVGIS 5.2, PVSOL premium 2022, and the PVWatts Calculator 8.2.1. A comparative analysis of the measured and simulated data in terms of the final yield was carried out. The data obtained from PVGIS and PVSOL demonstrated the highest degree of overall alignment of 92% and 91%, respectively. The most significant underestimation was noticed for the DDS-Cad software, which was equal to 77%. The most accurate predictions stand out for the system oriented to the south, while the weakest was found for the E–W installation.

Renewable energy development, unemployment and GDP growth: South Asian evidence

PurposeThis study aims to investigate the interplay between renewable energy development, unemployment and GDP growth within Bangladesh, India, Pakistan and Sri Lanka. The research underscores the significant role of renewable energy plays in stimulating economic growth and mitigating unemployment, offering crucial policy insights for sustainable growth in South Asia.Design/methodology/approachUtilizing the autoregressive distributive lag (ARDL) framework and Toda Yamamoto causality through the vector autoregressive (VAR) approach, the study analyzes the long-term and short-term impacts of these variables from 1990 to 2019.FindingsThis study reveals a significant co-integration among renewable energy consumption, unemployment and GDP growth in selected South Asian countries. The long-term estimation shows renewable energy consumption influences negatively economic progression in Bangladesh, with no notable correlation with unemployment. In contrast, Sri Lanka demonstrates an optimal relationship among all the variables. Short-run assessments reveal a significant positive relationship between renewable energy consumption and economic growth in India, while an inverse relationship is evident in Pakistan. Moreover, the relationship between unemployment and economic progression, the result shows a negative and significant relationship in India and Sri Lanka.Research limitations/implicationsThe study emphasizes the need for policy development concerning renewable energy development, unemployment reduction and sustainable economic growth in South Asia. While limitations exist, future research can expand upon this work by incorporating varied data, additional countries or alternative modeling techniques.Originality/valueThis research offers a unique exploration into the multidimensional impacts of renewable energy consumption, unemployment and economic growth in the South Asian context, an area previously unexplored in such depth.

Optimization of LCL Filter Grid-Connected Inverters

The increasing use of grid-connected inverters in power systems, driven by renewable energy growth and high-voltage, high-power open-loop devices, poses challenges due to PWM modulation generating harmful high-frequency harmonic currents. Optimizing parameter selection becomes crucial.LCL grid-connected inverters, as third-order systems, suffer from insufficient damping, leading to oscillations. Active and passive damping techniques are employed for effective control. The optimization process involves analyzing the fundamental principles of LCL filters, selecting space vector modulation for PWM. Design focuses on controlling current ripple within limits by considering LCL filter parameter constraints.A comparison of passive and active damping methods favors a current dual-loop control system. Simulation models evaluate system performance, confirming successful implementation of the optimized design.

Renewable energy development and transportation infrastructure matters for green economic growth? Empirical evidence from China

Global warming has hit The modern period worse than ever since the industrial revolution. As a result, more programs that benefit the environment have been launched, notably in renewable energy and green financing. This research delves into how carbon neutrality and sustainable financial development in China are affected by factors including renewable energy, green finance, technological innovation, and economic complexity. The report evaluates the impacts of renewable energy, transportation infrastructure, and green economic growth on China’s green financial development from 2008 to 2020. A two-stage ordinary least squares method is used to account for the endogeneity of this connection. Empirical research supports the significance of green finance in China’s sustainable development, with the results indicating that renewable energy and green economic growth (GDP) are critical determinants for sustainable development. The study’s findings inform policy decisions on how best to promote green finance, renewable energy, and technical innovation in China, all of which are essential to the country’s long-term economic success.

Evaluating the cost impacts to meet China’s renewable electricity portfolio standard target in 2030

ABSTRACT The power sector plays a pivotal role in China’s carbon peak and carbon neutrality targets. To build a low-carbon power system, it is important to develop wind and solar. This study aims to evaluate the economic impacts of the newly launched renewable portfolio standard in 2030 in China using a cost minimization model and an input-output model. The results show that to accomplish the renewable electricity portfolio standard in 2030, the installed wind and solar capacity will have to reach 1451.9 gigawatts (GW) in 2030. The Northeast, Northwest, and North regions will deploy the most installed capacity, and Inner Mongolia will take on the most renewable energy generation tasks. The annual cost of wind and solar development is expected to be 506.6 billion CNY in 2030, 94.7% of which are new construction costs and storage costs. Renewable energy growth will result in a national average electricity price increase of 5.4 CNY¢/kWh compared to 2019, and Heilongjiang, Gansu, and Shanxi are the most affected. The rapid development of renewable electricity in the next decade will increase the Consumer Price Index (CPI) by 0.4%, Producer Price Index (PPI) by 0.9%, and Gross Domestic Product (GDP) deflator by 0.5% in 2030. Based on the results, we propose to improve the electricity market mechanisms, enhance the electricity transmission stability, and develop policies appropriate to local conditions.

The impact of private equity investment and renewable energy on environmental degradation: evidence from BRICS countries

PurposeLarge-scale industrialization, growth and development have come at the cost of severe environmental degradation, primarily measured in terms of carbon dioxide emissions. Apart from the several measures taken to reduce enviornmental degradation, provision of private capital is a necessity apart from the public capital. There is a debate on impact of carbon dioxide emissions with increase in affluence, technology, population and renewable energy. The purpose of the study is to look into the role of private equity investment on renewable energy and technological patents.Design/methodology/approachThe study extends the use of stochastic impact by regression on population, affluence and technology model to include another factor for investments and capital, i.e. private equity along with renewable energy, population, technology and GDP growth on carbon emissions for the BRICS countries. The time period for the study is from 2002 to 2021, and the relationship between the variables has been tested using pooled mean group/autoregressive distributed lag, fully modified ordinary least squares and panel quantile regression.FindingsFirst, the results depict a log-run relationship between the variables across the panel using cointegration. Private equity investments do not have a significant impact on carbon emissions. The study proposes important policy implications. There are two schools of thought on the impact of private equity on carbon emissions. For example, inherently private equity investments come with higher stakes and a shorter holding period because of which their primary focus remains on having higher returns instead of responsible investing. However, as private equity adds up to capital, which leads to an increase in productivity and eventually higher economic growth, this could affect carbon emissions. This study supports the first thought. Additionally, renewable energy also affects carbon emissions positively. The policymakers should look into the role and intent of the private equity investors in green investments and invest in technologies and patents that can lead to energy consumption.Originality/valueThe paper is the first of its kind, to the best of the authors’ knowledge, to look into the impact of private equity on renewable energy and technological patents.

Does industrial structure changes matter in renewable energy development? Mediating role of green finance development

Green financing development mediated the interaction between industrial structure changes and renewable energy growth in China from 2000 to 2021. The research examines whether green financing may boost renewable energy development via industrial structural modifications. The research uses an econometric models to explore how green funding affects industrial structural changes and renewable energy development. Industrial structural changes boost renewable energy growth in China. Green finance development mediates the relationship between industrial structure changes and renewable energy development, suggesting that green finance can enhance the positive effect of industrial structure changes on renewable energy development. The research also reveals that green funding has a more significant long-term impact on renewable energy development. Industrial structural changes have a more significant impact on renewable energy development in economically developed areas. The results are significant for developing country policymakers promoting sustainable energy development via trade and fiscal decentralization.

The status and potential of renewable energy development in Jordan: exploring challenges and opportunities

The energy sector poses one of the largest challenges for the Jordanian economy because it directly influences economic growth. The country’s high dependence on imported intensive fossil-fuel sources (93% in 2021) has overburdened the national budget. The government has therefore defined a set of priorities and actions based on greater utilization of domestic resources, including renewable energy. The capacity of renewable energy systems feeding into the power grid in Jordan reached 2,445 megawatts (MW) in 2021, approximately 20% of the national electricity mix. This article investigates the capacity of renewable energy in Jordan and analyzes the present state of its renewable energy industry, which can aid decision makers and investors in developing plans for future projects. The country is taking steps to address several obstacles facing the energy sector including upgrading the grid, exporting excess electricity generated from renewables to international markets, and developing new policies and regulations for renewable energy growth. Jordan has significant potential to succeed in scaling up its use of renewables, particularly in electricity generation, which could reduce energy prices for consumers and improve energy security. The article also discusses opportunities in the renewable energy industry in Jordan and outlines next steps including reducing domestic greenhouse-gas emissions.

The sufficient level of growth in renewable energy generation for coal demand reduction

Today, renewable energy is being used to substitute traditional energy sources such as coal. Investing in renewable energy is an important direction in the development of the modern economy while preserving the quality of the environment and decreasing CO2 emissions. Despite the increase in renewable energy generation, the consumption of conventional energy such as coal in some years continues to increase as well. This shows that replacing coal with renewable energy may not be sufficient. If we can find a sufficient renewable energy generation growth rate that can reduce coal usage, this could be an important part of determining the growth of each country’s renewable energy generation. This study aims to identify significant kink point values in renewable energy generation growth that can reduce the amount of coal consumption in order to be preliminary information for learning, planning, investing, and developing renewable energy generation for interested parties and policymakers. To find the kink point, the study implemented the panel kink regression method. The study examined the growth of renewable energy generation and the use of coal for energy production in two groups: (1) The group with the most coal consumption in the world, and (2) The group with the most renewable energy generation countries. The results showed that the significant renewable energy generation growth that caused the reduction in coal consumption was equal to 1.99% per year. Not only the increase in renewable energy production make the change, but also other factors that play an important role in the reduction of coal for energy production such as generating enough renewable energy to serve the country’s energy demands and strong environmental policies on CO2 emissions.

How does trade and fiscal decentralization leads to green growth; role of renewable energy development

China has to balance economic growth with environmental protection and carbon reduction. This study examines China's 2000–2017 trade, fiscal decentralization, renewable energy development, and green growth. To understand how these elements affect sustainable and environmentally friendly economic growth. We use a panel model to evaluate how trade openness and fiscal decentralization affect renewable energy development and green growth trade openness boosts renewable energy development and green growth in China. Fiscal decentralization also promotes renewable energy and local economic growth. These findings emphasize trade liberalization and fiscal decentralization as policy levers for green growth through renewable energy development. Policymakers should promote international economic integration and give local governments more authority and fiscal incentives to embrace and expand renewable energy technologies. This research helps policymakers understand green growth in China and promote sustainable economic development while addressing environmental issues.

DEVELOPMENT OF RENEWABLE ENERGY MARKET IN THE CONTEXT OF GLOBALIZATION CHALLENGES AND CONSTRAINTS

The article analyzes peculiarities of the renewable energy market development in the context of globalization challenges and constraints. The research methods used иy authors are statistical analysis and synthesis, grouping, correlation, and regression analysis. Dynamics of renewable energy market development in recent years is considered, and key aspects that determine spread of various energy sources on a national and global scale are analyzed. The article proves renewable energy market growth due to development of technologies, global expansion, dissemination of knowledge and human capital, and growing attractiveness of renewable energy in private sector. It is determined that until 2007 renewable energy market was dominated by hydropower, later and nowadays solar and wind generation took the lead. Efficiency of energy generation from renewable sources in regions of the world is analyzed, as well as factors that determine position of individual countries in global renewable energy ranking. It is proved that the structure of renewable energy market varies depending on region, per 1 million. population, as well as by country. Leaders in the field of renewable energy production are identified, and key aspects that allow them to remain active market players in the future are defined. Dependence of annual electricity generation volume from renewable energy sources on the present value of energy generation from corresponding type is determined. It is proved that one of determining factors in renewable energy sector development is cost of its production, along with other significant variables. The relationship between the cost of renewable energy generation (wind and solar) and the level of its efficiency is calculated using the regression analysis method. The presence of a high influence along with other important factors is proved.

Investigations on the relation between China’s increasing renewable energy power generation and economic expansion

This study is intended to investigate the relation of China's economy expansion and renewable energy output. Expressing electricity production using renewable resources as the growth rate of renewable energy electricity output by category and the growth rate of renewable energy share, while denoting economic growth as GDP growth rate and electricity consumption per unit of GDP, the research examined the panel data from 2002 to 2020 with OLS model, and the robustness tests and heterogeneity analysis were completed. Research finds that China's renewable energy generation growth has a two-way relationship with economic growth. For heterogeneity analysis, the panel data of province GDP growth and electricity generation growth rates were used. The findings suggest that the classification criteria for provinces or the control factors that affect the findings need to be improved and taken into account. The finding shows that under the precondition that developing countries' rising energy usage benefits their economies' progress, optimizing the energy structure and promoting green transformation and sustainable development will both temporarily and permanently aid in the economy’s development.

Nexus between renewable energy consumption, economic growth, and CO2 emissions in Algeria: New evidence from the Fourier‐Bootstrap ARDL approach

AbstractGovernments often impose new energy strategies to support new CO2 emission‐reducing technologies without affecting economic growth. Hence, this study aims to re‐investigate the relationship between economic growth, renewable energy use, and CO2 emissions in Algeria from 1990 to 2018. Motivated by the mixed findings of the existing literature, which ignore the Fourier function and bootstrap test and apply the newly developed Fourier bootstrap autoregressive distributed lag model (FARDL). Our findings indicate that renewable energy use and growth have a long‐run relationship with CO2 emissions and do not accept the existence of the Environmental Kuznets Curve (EKC) hypothesis for CO2 emissions in Algeria. In the long term, the results show that renewable energy use has a negative and significant impact, and growth has a positive and statistically significant effect on CO2 emissions. In the short run, the findings indicate that renewable energy use reduces CO2 emissions, while both the growth and squared growth had positive and statistically insignificant impacts on CO2 emissions, confirming the lack of evidence supporting the EKC hypothesis. Moreover, the causality test indicates a one‐way causation from growth to renewable energy use, confirming the conservation hypothesis for Algeria and from growth to CO2 emissions. Interestingly, we found one‐way causality from CO2 emissions to renewable energy use, attributing this to the fact that renewable energy usage has yet to reach a point that it can significantly cause a CO2 emissions reduction. Based on the results, we recommend that policymakers design appropriate policies to decarbonize energy consumption, e.g., increasing fossil fuel costs and implementing a carbon tax. In contrast, Algeria should promote new CO2 emission‐reducing technologies without affecting economic growth, e.g., tax exemptions and reductions for enterprise owners in the renewable energy industry.

Role of Renewable Energy and Financial Innovation in Environmental Protection: Empirical Evidence from UAE and Saudi Arabia

In modern times, many countries are committed to achieving climate neutrality and environmental sustainability. Without financial innovation and green financing, switching to clean energy, reducing carbon emissions, and mitigating climate change will be impossible. The main objective of this study is to obtain zero carbon to protect the environment. To analyze sustainable development pathways, this research examines the impact of renewable energy and financial innovation on the environmental protection of the United Arab Emirates and Saudi Arabia from 2010 to 2021. The use of renewable energy sources, pollution, and climate change are all significant elements. Innovation can help slow the rate of global warming by lowering carbon emissions and expanding the usage of renewable energy sources. Green financing and innovation are powerful tools for environmental safety and deterioration. The acceleration of renewable energy growth is the primary driver of sustainable development. Moreover, green financing balances the innovation–energy–environment–climate nexus. Similarly, green finance amplifies the positive effects of innovation on using renewable energy. This study provides valuable insights into achieving zero carbon by producing renewable energy sources and modern green technology. Further research is possible by adding more dimensions of renewable energy sources.

Integrative approach to diagnosis and subsequent successful therapy of refractory follicular lymphoma using obinutuzumab in combination with bendamustine. Clinical observation

In the presented observation, a female patient with diagnosis of nodular lymphocyte-predominant Hodgkin lymphoma (advanced stages) received R-ABVD regimen therapy. Return of clinical symptoms observed at the onset of the disease, as well as renewed growth of the lymph nodes after 4th therapy cycle showed refractory disease. Considering the results of earlier studies, generally showing high effectiveness of primary treatment of patients with nodular lymphocyte-predominant Hodgkin lymphoma, reevaluation of immunomorphological type of lymphoproliferative disease was performed. After change of diagnosis to grade 3A follicular lymphoma, therapy was changed to obinutuzumab in combination with bendamustine leading to fast positive antitumor effect.

The impact of global renewable energy demand on economic growth – evidence from GCC countries

PurposeThis study aims to examine the relationship between global renewable energy consumption and economic growth in Gulf Cooperation Council (GCC) countries from 2001 to 2019.Design/methodology/approachThis paper used a panel regression model to study the six GCC countries over the period from 2001 to 2019.FindingsAs expected, the findings indicated a significant and negative relationship between global renewable energy consumption and GCC economic growth. Additionally, there was a positive and significant relationship between GCC economic growth and the control variables, specifically labor, capital, CO2 emissions and non-renewable energy production.Practical implicationsThe results are of great importance to policymakers in GCC oil-exporting countries, as expected growth in renewable energy consumption will lower their economic growth in the future. Hence, they should first diversify their economy and lower their dependence on oil. Second, these countries can invest in solar energy through international joint ventures, especially with North African countries in close proximity to Europe, to become leaders in solar energy production.Originality/valueHow global energy consumption is related to GCC countries’ economic growth remains unclear, not only in GCC countries but also in many oil-exporting countries around the world, so future studies are needed. Furthermore, GCC governments will be able to create appropriate policies for the green economy and achieve their objectives if they have a comprehensive understanding of how global growth in renewable energy demand affects GCC economies.

A wavelet analysis of connectedness between economic globalization, nonrenewable, and renewable energy consumption, and CO2 emissions in Vietnam

We examine the relationships between Foreign Direct Investment (FDI), Trade Openness (TO) and consumption of nonrenewable energy, consumption of renewable energy, and CO2 growth in Vietnam’s different time and frequency dimensions from 1985 to 2019 using cutting-edge multivariate wavelet analysis approaches. The multiple correlations indicate that two regions that were concentrated between 1985 and 1999 (cycles with a periodicity of three years). The partial coherency reveals that the interconnectedness between the TO and nonrenewable energy consumption mostly appears in the low-frequency band (the 15-to-21-year frequency band) starting from 1985 to 1999 and in high frequencies running from 1996 to 1999 and from 2004 to 2008. There are two phases of partial coherence between FDI and nonrenewable energy consumption. In the first phase (1993 to 2003), nonrenewable energy consumption was negatively associated with changes in FDI growth. In the second phase, from 2003 to 2015, the consumption of nonrenewable energy is in phase with the growth of FDI leading. There was a negative nexus between changes in FDI growth and changes in renewable energy consumption growth in the phase from 1997 to 2008. The partial phase difference reveals that the interconnectedness between FDI and CO2 emission mainly lies in the 18–25 frequency band. It appears that the phase from the beginning of our time series to 1994 indicated that changes in FDI led to changes in CO2 emissions, with the relationship being negative. Based on the partial coherence between TO and nonrenewable energy consumption, most regions fell within the 14–22-year frequency band from 1985 to 1994 and 1990 to 2006.

Trajectory and drivers of China's consumption-based and production-based renewable energy consumption

China's renewable energy consumption was 6.37 EJ in 2018, making it the world's largest renewable energy consumer. Exploring the economic and social driving factors behind the dynamic evolution of renewable energy consumption in China not only serve China better development of renewable energy, but also has implications for other developing countries. Existing research was limited to apparent consumption based on static geographic boundaries, and ignored the embodied renewable energy consumption in trade, although China is the largest trade exporter and the second trade importer. This work extended the existing research to account production-based and consumption-based renewable energy consumption applying the multi-region input-output model and analyzed the embodied renewable energy flows in China's international trade. Furthermore, this paper adopted structural decomposition analysis to explore the driving factors of renewable energy production and consumption from consumption coefficient, production structure and final demand. The results show that, firstly, as the net embodied renewable energy importer, China's the renewable energy consumption on the production-based increased from 1.08 E+ 06 TJ to 6.79 E+ 06 TJ, and on the consumption-based increased from 1.08 E+ 06 TJ to 7.13 E+ 06 TJ. Secondly, major of embodied renewable energy came from China's trade with developed economies but the pattern of embodied renewable energy was undergoing change. Thirdly, the decomposition results showed that energy structure and final consumption were the leading drivers in China's renewable energy consumption growth. For further expansion of its renewable energy, policymaking should pay more attention on the adjustment and optimization of energy consumption structure and industrial structure to promote production side from sustainable consumption pattern.

Can financial and economic means accelerate renewable energy growth in the climate change era? The case of China

In the context of climate change, innovative financing solutions and the rapid development of financial technology (fintech) offer great potential for the growth of renewable energy. Based on panel data from 30 provinces in China, this paper explores the impact of fintech on renewable energy growth by employing the instrumental variable-generalized method of moments (IV-GMM). We also pay attention to the nexus between fintech and renewable energy growth at different quantiles. This paper also explores the moderating role of the digital economy and the mediating role of green technological innovation. The main results indicate that (1) fintech positively affects renewable energy growth in China; (2) the positive effect between fintech and renewable energy is stronger in provinces with lower levels of renewable energy growth; (3) the digital economy, on the one hand, can significantly accelerate renewable energy growth; on the other hand, under the help of the digital economy, fintech can play a more effective role in increasing renewable energy growth; and (4) fintech indirectly promotes renewable energy growth by increasing the level of green technology innovation. The findings provide meaningful references for governments and policymakers and encourage the accelerated adoption of fintech in the sustainable energy sectors.

Modelling the green logistics and financial innovation on carbon neutrality goal, a fresh insight for BRICS‐T

This article explores the concepts and objectives of green logistics and financial innovation in the context of the BRICS‐T economies (Brazil, the Russian Federation, India, China, South Africa and Turkey) with the aim of achieving carbon neutrality or net‐zero emissions. It outlines a new scientific direction that incorporates the use of knowledge and other areas to apply green innovation, green energy and economic growth to reducing transport‐based CO2 emissions. To examine the identified research gap, the study adopted a novel econometric approach for 2000–2018 and confirmed the ‘carbon neutrality’ hypothesis. The findings revealed that green logistics, green innovation and renewable resources—which become a strong driving force for executing neutrality—result in net zero emissions and improve environmental sustainability in the BRICS‐T countries. In contrast, financial innovation and economic growth boost transportation emissions and increase environmental degradation. According to the findings of the study, policymakers should prioritize sustainable development strategies in order to achieve ‘Carbon Neutrality’. This includes implementing green logistics and promoting green financial innovation. Furthermore, it is suggested that greater support be given to the renewable energy sector, green technologies and sustainable growth to drive sustainable development in the BRICS‐T economies.