Role Of Renewable Energy Consumption Research Articles

Modelling the contribution of green technologies, renewable energy, economic complexity, and human capital in environmental sustainability: Evidence from BRICS countries

Green technological developments and investments are often observed as effective tools for the sustainability of carbon counteraction since they progress energy efficiency and unsoiled productivity. To do this, the main objective of this study is to inspect the effect of green technologies, economic complexity, renewable energy consumption, and human capital on the ecological footprint in the case of Brazil, Russia, India, China, and South Africa (BRICS) countries over the span of 1990–2020. Accordingly, this study applied novel and unconventional panel methods that provide reliable and robust estimated findings under slope heterogeneity and cross-dependency issues. The estimated results from cross-sectional autoregressive distributive lag (CS-ARDL) presents that the influence of green technologies, human capital, and renewable energy significantly protects the environment. On the other hand, economic complexity damages the environment in the long run. Furthermore, the evidence confirms that the interactive role of renewable energy consumption is also beneficial to protect the environment. Besides, the interactive role of green technologies and renewable energy consumption significantly protect the environment in the BRICS region. From a policy perspective, this study advocates that it is crucial to accelerate green technological innovations in BRICS economies, including the regulatory policies encouraging an incessant upsurge in the share of green technologies, renewable energy consumption, and human capital into environmental technological progress.

Global economic policy uncertainty and renewable energy demand: Does environmental policy stringency matter? Evidence from OECD economies

Existing literature recommends the essential role of renewable energy consumption (REC) in achieving environmental sustainability. Although prior works have investigated the significant factors of REC, the effect of green environmental policies remains largely understudied, particularly in OECD countries. Therefore, this study specifically examines the role of environmental policy stringency (EPS) in enhancing (or diminishing) REC in 27 OECD economies between 2000 and 2019. Furthermore, we aim to specify the determinants of REC and investigate whether EPS could help moderate the relationship between global economic policy uncertainty (GEPU) and REC. To accomplish this, we employ both the fixed effects and panel quantile estimation methods. The findings underline that EPS has a positive and significant impact on REC, indicating that stricter green environmental policies lead to encouraging REC. Besides, the findings show that EPS has a beneficial role in lessening the negative effect of GEPU on REC, and its negative effect on REC is more moderated as moves from environments with low EPS to high EPS. The results also underscore that financial market development, FDI, remittances, technological innovation, and economic development positively promote REC whereas CO2 and natural resources rents have a detrimental impact. The findings are significant and a wide range of policy suggestions is recommended to governments, policymakers, and regulators to attain the energy and environmental sustainability targets set out in SDG 7 and SDG 13, respectively.

Impact of Urbanization on Environmental Eminence: Moderating Role of Renewable Energy

In the era of modernization, the movement of the multitude from rural to urban regions all over the globe is rising swiftly. This movement crafts so many socio-economic prospects for the masses. However, in chorus, it has made severe challenges for the eminence of the environment due to a decrease in forestation and the arrangement of more buildings and plants, causing CO2 emissions. It is unmanageable to edge the endurance of urbanization, and the issue is how we can switch its adversative effects on the environment. This study investigated the moderating role of renewable energy consumption in the urbanization-CO2 nexus. For this study, twenty-three of the most urbanized economies from around the world were chosen from 1997 to 2021. Three econometrics techniques are applied for empirical investigation: fixed effect model, robust least square and panel quantile regression with twelve model specifications. The dependent variable is carbon dioxide (CO2) emissions. The explanatory variables are gross fixed capital formation, patent application, inflation, financial development, industrial growth, urbanization and interaction term of renewable energy and urbanization. To check the robustness of empirical findings, we used four different proxies of (CO2) emissions and three different proxies of urbanization. In our empirical findings, patent application, inflation and industrial growth are positively and significantly associated with all proxies of CO2 emissions. While financial development is inversely and significantly allied with CO2 emissions. The impact of all proxies of urbanization is positive and significant on CO2 production. But the moderating effect of renewable energy on environmental depredation is inverse and significant. It suggests using clean and renewable energy and developing the financial sector to improve the eminence of the environment. Our research aligns with the sustainable development goals and the corporate social responsibility stream, making some valuable contributions to the body of previously established research.

Dutch disease perspective of energy sector: Natural resources and energy sector nexus with the role of renewable energy consumption

The issue of climate change has fascinated consideration from policy makers in recent years. Energy efficiency is a crucial solution to climate change due to its ability to reduce the amount of energy needed to produce goods by transforming the energy systems. Currently, China is the top energy user in the globe. As the country continues to experience rapid economic growth and industrialization, its demand for energy continues to increase, leading to concerns about energy efficiency. Natural resources have traditionally been the main sources of energy for many countries, including China. The availability of excessive natural resource rents might, in most cases, be beneficial to the shift towards renewable energy. This study explores the effect that natural resource rents on the energy efficiency of China over the period of 1990–2021. This study helps formulate efficient energy policies and strategies by investigating the linkage between resource rents and energy efficiency in China. Using quantile regression approach, the findings of this study give insightful information regarding the connection between natural resource rents and energy efficiency in China. The results show that an increase in forest rents improves energy efficiency. On the contrary, natural gas rents, GDP and renewable energies worsen energy efficiency in China. Based on the results, this study recommends that policies should priorities sustainable forest management practices, including afforestation, reforestation, and conservation measures.

Revolutionizing Environmental Sustainability: The Role of Renewable Energy Consumption and Environmental Technologies in OECD Countries

This study examines the relationship between economic factors and environmental sustainability in OECD (Organisation for Economic Co-operation and Development) countries from 1990 to 2022, with a particular focus on the impact of renewable energy consumption and environmental technologies on CO2 emissions. The research utilizes empirical data to establish a clear negative correlation between the adoption of renewable energy sources and the level of CO2 emissions, highlighting the effectiveness of renewable energy in reducing the environmental impact of economic activities. This finding supports the theoretical perspective that transitioning to cleaner energy sources is vital for achieving environmental sustainability and aligns with the objectives of the OECD’s environmental sustainability program. Further analysis reveals a significant negative impact of environmental technologies on CO2 emissions, underscoring the importance of technological innovation in environmental conservation efforts. The study also explores the dual influence of GDP growth, urbanization, industrialization, and trade on CO2 emissions, revealing both positive and negative effects across different stages of economic development. Initially, these factors contribute to increased emissions, but as economies mature and integrate more efficient and cleaner technologies, their impact on emissions becomes negative. These findings demonstrate the complex interplay between economic development and environmental sustainability and emphasize the need for policies that encourage renewable energy adoption, support environmental technological innovations, and guide economies towards sustainable practices. The study provides valuable insights for policymakers and stakeholders, advocating for an integrated approach to ensure long-term environmental sustainability in OECD countries.

The Role of Renewable Energy Consumption in Targeting Debt Sustainability in African and MENA Region Countries

The primary aim of this study was to explore the impact of renewable energy consumption on debt sustainability in African and Middle East and North African (MENA) countries. Other objectives were to be investigated including foreign direct investment net inflows’ effects on those countries’ public debt, besides the relationship between carbon dioxide emissions and their public debt. The Fixed Effects Regression Model for Panel data analysis was employed through the utilization of different variables data of 21 countries in Africa and MENA regions, covering the period from 1999 to 2021. The conducted regression analysis incorporated central government debt as a dependent variable, and carbon dioxide emissions, FDI net inflows, the government effectiveness index, credit to the private sector, and renewable energy consumption as explanatory variables. The results revealed the existence of direct significant relationship between renewable energy consumption and central government debt, suggesting that reducing public debt leads to lower utilization of renewable energy. This could imply that going for the objective of debt sustainability requires the prevention of the wide utilization of renewable and clean energy. However, this impact could be overcome or lessened or even mitigated if it is aligned with the presence of highly effective governments and stimulated by FDINI oriented towards climate change mitigation since Green foreign direct investment inflows promotes the sustainable development and debt sustainability specifically with the presence of inverse relationship between the latest variables and central government debt. One recommendation from this research is that attracting FDI that promotes sustainable development within the context of effective governments can reduce government debt and should be explored for attaining the main objective without harming the ecological system or causing environmental degradation.

Revisiting the nexus between digital trade, green technological innovation, and environmental sustainability in BRICS economies.

After the UN Climate Action Summit in 2019, many countries started progressing towards race to zero targets. The intricate framework of digitalization and green technologies has the potential to persuade governments to implement policies that promote a zero-carbon economy, i.e., green economy. Hence, this study determines the effect of digital trade (DGT) and green technological innovation (GTI) on environmental sustainability (ENS) by considering the role of renewable energy consumption (REC), globalization (GLOB), and economic growth (EG). The study measured ENS by taking into account three proxy variables, i.e., ecological footprint (EF), carbon dioxide emission (CO2e), and methane emissions (CH4e). POLS and PMG-ARDL techniques are applied to the panel data of BRICS (Brazil, Russia, India, China, and South Africa) from 2000 to 2019. Panel Quantile Regression (PQR) along with AMG and CCEMG estimators is applied hereafter for checking the robustness of the empirical results. The long-run empirical outcomes show the positive association of DGT, GTI, REC, and GLOB with ENS. Lastly, this study inscribed the Environmental Kuznets Curve (EKC) and highlights policy implications and governmental measures to ensure environmental sustainability in BRICS economies.

The effect of environmental degradation on self-reported health: the role of renewable energy consumption.

Although there are a number of studies in the literature that have explored the effect of environmental degradation on the subjective well-being and life satisfaction, no previous study has addressed the role of renewable energy consumption in examining the effect of environmental degradation on self-reported health. To this end, we employ a conditional mixed process (CMP) model, using a unique dataset that combines both micro-level data fromthe 6th (2010-2014) and 7th (2017-2022) Waves of the World Values Survey (WVS) database and macro-level data from the World Bank. Our study has several important empirical findings. First, while environmental degradation deteriorates self-reported health, social capital and health expenditure have a positive impact on self-reported health. Second, the share of renewable energy consumption in total final energy consumption has a statistically significant negative impact on environmental degradation. Third, urbanization has a deteriorating effect on environmental quality and the total number of people increases environmental degradation.

Race to carbon neutrality in South Africa: What role does environmental technological innovation play?

Governments worldwide have prioritized carbon reduction and neutrality to address the escalating threat of climate change. These goals are in line with the United Nations Sustainable Development Goals (UNSDG-13). These goals stress taking action on climate change to lessen the bad effects of human activities and using fossil fuels for energy. To this end, the present study investigates the connection between conventional energy usage, agricultural practices, economic growth, and their impact on environmental sustainability in South Africa. Additionally, it explores the role of renewable energy consumption and environmental technological innovation in mitigating these effects. To achieve the study objectives, a carbon-income function is fitted with an annual frequency data from 1975 to 2020. The present study leverages on Pesaran's Autoregressive distributed lag (ARDL) method and for robustness analysis the dynamic ARDL simulations method to simultaneously explore the short and long-run coefficients of the study's outlined variables. Empirical analysis, confirmed by bounds testing for cointegration, reveals a long-term equilibrium relationship among the variables considered. Notably, economic growth, fossil fuel energy consumption, and agricultural activities have adverse effects on environmental sustainability in South Africa, indicating a trade-off between economic growth and environmental quality. Dynamic ARDL simulations provide further evidence of an Environmental Kuznets Curve (EKC) phenomenon. However, renewable energy consumption and environmental technological innovation positively influence environmental quality. These findings highlight the imperative for South Africa and its stakeholders to adopt green growth policies and transition to cleaner energy alternatives.

Examining the impact of clean environmental regulations on load capacity factor to achieve sustainability: Evidence from APEC economies

Environmental regulations have emerged as a critical policy tool for promoting environmental sustainability worldwide. However, there is a dearth of literature that investigates the impact of environmental regulations on load capacity factor in Asia-Pacific Economic Cooperation (APEC) economies. This study aims to address this gap by examining the role of renewable energy consumption, human capital, and environmental regulations in improving load capacity factor. In doing so, the paper covers 14 APEC economies; applies second generations panel data models (i.e., CUP-FM (continuously updated fully modified) as the base model and CUP-BC (continuously-updated and bias-corrected) for the robustness); and runs data between 1992 and 2018. The empirical findings present that: i) renewable energy consumption and human capital contribute to improving load capacity factor; ii) environmental regulations are not at a level to increase load capacity factor; iii) economic growth and trade openness significantly reduce load capacity factor. Considering empirical outcomes, this study suggests that APEC should tighten environmental regulations to achieve sustainable environment. In addition, this study offers important sustainable environmental policies for APEC within the framework of empirical findings.

Revealing the role of renewable energy consumption and digitalization in energy-related greenhouse gas emissions—Evidence from the G7

Revealing the role of renewable energy consumption and digitalization in energy-related greenhouse gas emissions—Evidence from the G7

Powering environmental sustainability through renewable energy and natural resources: a Dynamic ARDL simulation approach.

The objective of this study is to examine the role of renewable energy consumption and natural resource rents along with control variables of globalization and economic growth on the environmental sustainability of Jordanian economy from 1985 to 2019. These variables have been selected based on theory and empirical literature. We apply a Dynamic Autoregressive Distributed Lag (D-ARDL) technique along with robustness checks of Fully modified OLS (FMOLS), Dynamic OLS (DOLS), and Canonical Cointegrating Regression (CCR) techniques in order to achieve the above goal. The result from the analysis confirms that the environmental Kuznets curve (EKC) is not valid for the Jordan in either long or short term. Our estimation results also confirm the highly significant and negative impact of renewable energy on CO2 emissions in both the long and short term. However, both natural resource rents and globalization are significant and positive in the long run, implying that these variables are detrimental to the environmental quality. The interaction analysis presents detrimental effect of globalization in terms of renewable energy while it shows beneficial effect of globalization in terms of natural resource for environmental quality. The frequency domain causality result shows causality at different frequencies across the variables. Based on the results, several policy directions are provided in order to achieve environmental sustainability in Jordan.

The roadmap to net‐zero emission: Do geopolitical risk and energy transition matter?

Global crises have heightened policy uncertainties and efforts to address global climate change. Limited evidence exists in the literature on geopolitical risk's direct and indirect roles in addressing global emissions. In this study, we examine whether geopolitical risk could impede or facilitate efforts to attain a net‐zero emissions target through energy transition using panel data for 42 countries from 1990 to 2020. Various econometric techniques were applied in this study to present robust findings and reliable conclusions. Estimates from the Driscoll‐Kraay, Lewbel two‐stage least squares and method of moment regression techniques consistently showed that countries' geopolitical risk directly increases emissions (total greenhouse gas, carbon, methane, and nitrous oxide). At the same time, energy transition, measured with renewable energy consumption, mitigates these emissions. In addition, evidence from the partial linear functional‐coefficient model technique indicates that renewable energy consumption consistently mitigates emissions when geopolitical is minimal (at a minimum and mean level). However, the role of renewable energy consumption in reducing emissions becomes weaker when geopolitical risk is heightened—thus, when geopolitical risk reaches its maximum level. We recommend that efforts to sustain renewable energy transition and maintain geopolitical stability are vital for achieving net‐zero emissions and climate change mitigation.

Towards Achieving Sustainability in the BRICS Economies: The Role of Renewable Energy Consumption and Economic Risk

In this study, the focus is on examining the influence of renewable energy consumption, economic risk, and financial risk on the load capacity factor (LF) within the BRICS countries. The analysis covers the time span from 1990 to 2019. The empirical strategy uses the Method of Moments Quantile Regression (MMQR) and long-run estimators (Fixed Effects Ordinary Least Squares, FE-OLS; Dynamic Ordinary Least Squares, DOLS; and Fully Modified Ordinary Least Squares, FMOLS). The findings highlight the presence of a cointegrating relationship. Moreover, fossil fuels and economic growth cause LF to decrease, while economic risk and the use of renewable energy sources increase the deepening of the LF. Furthermore, the results of the MMQR method are confirmed by DOLS, FMOLS, and FE-OLS estimates. Causality results also demonstrate that these factors may forecast ecological quality, indicating that policies for renewable energy consumption, financial risk, renewable energy, and economic growth can all have an impact on the degree of LF. In light of this research, policymakers should strongly encourage expenditures on environmentally friendly technologies and economic and financial stability to increase energy efficiency as well as sustain the widespread adoption and use of energy-saving products.

Climate change mitigation role of renewable energy consumption: Does institutional quality matter in the case of reducing Africa's carbon dioxide emissions?

Renewable energy and institutions have emerged among other variables touted to address climate change problems. However, empirical results have been conflicting. With a relatively poorer state of institutional quality and a lower level of renewable energy development amidst rising carbon dioxide (CO2) emissions in Africa, the study assesses: a) the direct effect of renewable energy and institutional quality on CO2 emissions in Africa; and b) the moderation role of institutional quality on the effect of renewable energy on CO2 emissions in Africa. The study relies on panel data covering 2002–2021 for 32 African countries. The Fully-Modified OLS regression method is employed to analyze the data based on the environmental Kuznets curve (EKC) hypothesis and Stochastic Impacts by Regression on Population, Affluence, & Technology (STIRPAT) model. The results show that urbanization and trade openness increase CO2 emissions. Although income has a positive effect on carbon emissions, the square term has a negative confirming the EKC hypothesis. Renewable energy also reduces CO2 emissions. Institutional quality variables of control of corruption, rule of law, regulatory quality, political stability and absence of violence, voice and accountability, government effectiveness and institutional index created from the above indicators reduce CO2 emissions. In addition, except government effectiveness, the remaining indicators of institutional quality negatively moderate the effect of renewable energy on CO2 emissions. The results among other things imply that intensifying the development and usage of renewable energy would help address the rising carbon dioxide emissions trend in Africa. Also, strengthening institutions promises to reduce CO2 emissions.

Sustainable environment quality: moderating role of renewable energy consumption in service sector for selected HDR listed countries.

Considering environmental deterioration, an emerging global problem, this study is aimed at determining the impact of the service sector economic activity on environmental quality from the environmental Kuznets curve (EKC) perspective and finding ways to reduce the carbon impact of service sector within the EKC relationship. This study proposes that renewable energy intensity in the economy plays an important role in reducing carbon print of service sector. This study is based on secondary data from 1995 to 2021 for different development-wise categorized country groups leading to 115 countries, according to the Human Development Report (HDR) on the Human Development Index (HDI). Estimated results using panel feasible generalized least squares (FGLS) have confirmed inverted U-shaped for very high HDI and medium HDI and U-shaped EKC for low HDI countries. This study is instrumental in confirming the moderating role of renewable energy in the service sector EKC. Policymakers can plan a gradual reduction of carbon footprint in the service sector by transitioning toward renewable energy.

Factors Affecting the Environmental Quality: The Role of Renewable Energy Consumption and the Financial Market

The objective of the study is to evaluate the effect of renewable energy and factors such as financial development, foreign direct investment, population size and urbanization rate on CO2 emissions in six typical Southeast Asian country between 2000 and 2020. Using quantitative analysis, the study results confirm that the use of renewable energy has the potential to improve environmental quality due to its ability to reduce energy CO2 emissions. However, increasing urbanization rate has a negative impact on environmental quality because urbanization is associated with labor mobility and increased CO2 emissions. There is no evidence of between population size, financial development, foreign direct investment and CO2 emissions.

The role of renewable energy consumption on environmental degradation in EU countries: do institutional quality, technological innovation, and GDP matter?

In the face of climate change and environmental degradation, reducing emission of greenhouse gases has become a key factor for environmental sustainability. Therefore, the present research is intended to explore the roles of renewable energy consumption, institutional quality, technological innovation, and GDP on carbon dioxide emissions in the 14 EU countries. In doing so, this study employed novel method of moments quantile regression (MMQR) using annual data from 2000 to 2019. Also, a number of other estimators were applied for robustness check including the fully modified ordinary least square (FMOLS), the dynamic ordinary least squares (DOLS), and the fixed effect ordinary least square (FE-OLS). The empirical findings indicate that renewable energy consumption significantly reduces CO2 emissions across all quantiles (0.1-0.9). Furthermore, institutional quality and technological innovation improve environmental quality in 0.1-0.7 quantiles, although GDP enhances carbon emissions significantly in all quantiles. In addition, the FMOLS, DOLS, and FE-OLS results confirmed the MMQR results. The outcomes of this study suggest insights for the policymakers to mitigate carbon emissions through promoting innovative technologies for environmental protection and investing more in the development of renewable energy.

Dutch disease via remittances and natural resources: A perspective of global economy

In the last few decades, the literature substantially explored the connection of natural resources, remmittanes, and sustainability for different countries. Concerning, the existing contradictory findings motivated the present study to investigated the global economy. This study tends to analyze whether natural resources and remittances contribute to sustainable development or causing Dutch in the global economy. Also, this study aims to explore the role of renewable energy consumption and trade openness in global sustainable development during the period 1990–2020. Using both the parametric methods such as canonical, dynamic and fully modified ordinary least square, and non-parametric approach method of moment quantile regression, the long-run results are obtained. The empirical results reveal that natural resources are adversely affecting the sustainable development which validates the Dutch disease in global economy. In contrast, remittances, renewable energy use, and trade openness are significant factors of long-run sustainable development. These results are robust and consistent to the prevailing literature. Based on the empirical results, this study suggests lowering natural resources exploitation or efficient use of such resources, adequate utilization of remittances in developmental projects, promoting investment in renewable energy sector, and encourage trade between economies. Such implications will improves will lead to the attainment of global sustainable development.

Modelling the Nexus between Financial Development, FDI, and CO2 Emission: Does Institutional Quality Matter?

The present study draws motivation from the United Nations Sustainable Development Goals, with a special focus on SDGs 7 and 13, which highlight the need for access to clean and affordable energy in an environment devoid of emissions; it addresses climate change mitigation in the context of Sub-Saharan Africa. To this end, a carbon-income function setting for Sub-Saharan Africa (SSA) is constructed. The dynamic relationship between financial development and climate change is evaluated using three indicators and foreign direct investment and carbon dioxide emissions (CO2), while accounting for regulatory institutional quality using a “generalized method of a moment” estimation technique that addresses both heterogeneous cross-sectional issues. Empirical results obtained showed a positive statistical relationship between economic growth and CO2 emissions in SSA at the <0.01 significance level. This suggests that, in SSA, the economic growth path is pollutant emissions driven. This indicates that SSA is still at the scale phase of her growth trajectory. However, an important finding from the present study is that regulatory institutional indicators, such as political stability, government effectiveness, control of corruption, and voice and accountability, all exert a negative effect on CO2 emissions. This implies that regulatory measures militate against emissions in SSA. Based on the empirical findings of this study, it can be concluded that clean FDI inflows assist in ameliorating emissions. Thus, the need for a paradigm shift to cleaner technologies, such as renewables, that are more eco-friendly, is encouraged in Sub-Saharan Africa, as the current study demonstrates the mitigating role of renewable energy consumption on CO2 emissions. Further policy prescriptions are presented in the concluding section.