Does Renewable Energy Transition in the USA and China Overcome Environmental Degradation?

Mohamad, Abdul Hayy Haziq; Zainuddin, Muhamad Rias K. V.; Ab-Rahim, Rossazana

doi:10.32479/ijeep.14840

Cited by 2 publications

(1 citation statement)

References 66 publications

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“…Kartal (2022) conducted a study that involved five countries, including India, from 1965 to 2019. Many others studies also conclude the same, as the utilizing sources of non-renewable energy may result in an increase in CO2 emissions (Lin & Xu 2020, Zhang et al 2020Uzair et al 2022;Mohamad et al 2023). Therefore, reducing CO2 emissions is an important goal to work toward because its substance is one of the major contributors to climate change (Bauer et al 2016, Adedoyin et al 2020, Ehsanullah et al 2021.…”

Section: Literature Reviewmentioning

confidence: 93%

Do the various sources of energy consumption affect the environmental degradation in India?

Bin Mohamad,

Ab-Rahim

2023

Int. J. Renew. Energy Dev.

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India possesses ample opportunities for economic growth, resulting in a surge in electricity demand. As per the Environmental Performance Index (EPI), India's rank on environmental health and ecosystem viability stands at a lowly 168th out of 180 countries. Historically, India relied on fossil fuels for electricity generation, leading to substantial environmental degradation that have harmed the environment. In recent times, India has diversified its electricity generation sources, incorporating not only fossil fuels but also nuclear power and renewable resources. However, despite these changes, India still struggles with high CO2 emissions which indicates the level of environmental degradation. Hence, this study aims to investigate the sources of energy consumption in India: fossil fuels, renewable energy, and nuclear energy. By utilising the ARDL and NARDL methodologies, this study enriches the empirical studies by examining energy consumption trends in India from 1985 to 2021. The findings of this study shed light on whether the adoption of renewable energy and nuclear energy significantly aids in reducing carbon emissions in India, thereby facilitating the attainment of the Sustainable Development Goal (SDG), Therefore, it is of the utmost necessity for India to emphasize the formation of clean energy in their energy policy to achieve the SDG7 by the year 2030. This study found a positive correlation between GDP per capita and CO2 emissions, highlighting the urgent need to reduce India's dependency on fossil fuels. The ARDL analysis further confirms that fossil fuel-generated energy contributes to CO2 emissions, whereas nuclear-generated energy reduces them.

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Section: Literature Reviewmentioning

confidence: 93%

Do the various sources of energy consumption affect the environmental degradation in India?

Bin Mohamad,

Ab-Rahim

2023

Int. J. Renew. Energy Dev.

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Investing in Renewable Energy Transition as a Key Trend in the Global Economy

Bulkot,

Liubkina,

Anisimova

et al. 2023

BulEcon

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Background. Energy transition is crucial for mitigating greenhouse gas emissions and fostering sustainable global economic growth. However, with the uneven pace of energy transition across regions, businesses will encounter numerous challenges in identifying opportunities and risks while adapting to new policies and evolving market dynamics. The implementation of any strategy, particularly those related to the new transition approach with anticipated outcomes leading to conceptual shifts in interactions within both national and global economies will also require substantial investments and financing capacities. The energy transition will require huge investments over many years in renewable energy generation, energy efficiency, and energy infrastructure. That is why this article aims to analyze and summarize the key investment trends supporting the renewable energy transition in the global economy. Methods. To provide due and relevant research the scientific generalizations, analogies, abstraction, analysis, and synthesis were used in the generalization of theoretical foundations of RE transition; the scientific analysis and generalization were implied while studying related publications and providing the conclusions; the method of logical analysis, structural, statistical and system methods were used for the analysis of the statistical and analytical data. Results. In 2022, the total new investment in renewable energy reached approximately $495 billion globally, marking a 17 % increase from the previous year. The funding for clean energy worldwide has been steadily increasing over the last two decades. In 2022, global investments in transition technologies reached $1.3 trillion. But, as this research shows, investment in renewable energy will need to triple by the end of this decade. Most of the investments were made in developed countries widening the annual investment deficit that developing countries face in achieving the SDGs by 2030: the gap is now about $4 trillion per year up from $2.5 trillion in 2015 when the SDGs were adopted. Conclusions. The energy transition requires investment not only in renewable energy generation and electrification but also in sustainable infrastructure, energy-efficient buildings, and decarbonization of industry. To meet climate goals, the energy transition requires a faster pace of renewable energy generation and end-use, in electrification of end-use sectors and improved energy efficiency. Businesses also have a key role to play in financing investments in the RE transition – they are the key enablers.

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Does Renewable Energy Transition in the USA and China Overcome Environmental Degradation?

Cited by 2 publications

References 66 publications

Do the various sources of energy consumption affect the environmental degradation in India?

Do the various sources of energy consumption affect the environmental degradation in India?

Investing in Renewable Energy Transition as a Key Trend in the Global Economy

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