Is renewable energy use lowering resource-related uncertainties?

Olanipekun, Ifedolapo Olabisi; Özkan, Oktay; Olasehinde‐Williams, Godwin

doi:10.1016/j.energy.2023.126949

Cited by 34 publications

(4 citation statements)

References 73 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Furthermore, following the studies of Olanipekun et al ( 2023 ) and Ozkan et al ( 2023b ), we employ quantile regression (QR) to check the robustness of the results of the quantile-on-quantile regression (QQR) results; we also apply the multivariate quantile regression (MQR) to check the robustness of the MQQR findings. Figure 6 demonstrates the MQR and averaged MQQR estimates.…”

Section: Resultsmentioning

confidence: 99%

Energy security-related risks and the quest to attain USA’s net-zero emissions targets by 2050: a dynamic ARDL simulations modeling approach

Usman,

Ozkan,

Alola

et al. 2024

Environ Sci Pollut Res

Self Cite

View full text Add to dashboard Cite

The Russia-Ukraine war and other similar conflicts across the globe have heightened risks to the United States of America's (USA’s) energy security. However, little is known about the severity of the effect of energy security risks on the USA’s quest to attain net-zero emissions targets by 2050. To this end, we examine the effect of energy security risks on the load capacity factor (LCF) in the USA. Employing a time series dataset spinning from 1970 to 2018, the results of the Dynamic Autoregressive Distributed Lag (ARDL) simulations model suggest that energy security-related risk hampers the long-term net-zero emissions targets with its effect decreasing over time until it varnishes in about 5 years time. The results also show that foreign direct investment (FDI) inflows, renewable energy consumption, and green technology have long- and short-run positive effects on the LCF. Conversely, economic expansion and urbanization impede environmental quality by lowering the LCF both in the long run and short run. These findings are upheld by the outcomes of the multivariate quantile-on-quantile regression. Therefore, the study advocates for the consumption of renewable energy, investment in green technologies, and FDI inflows to mitigate energy security-related risks and attain the net-zero emissions targets by 2050 in the USA.

show abstract

Section: Resultsmentioning

confidence: 99%

Energy security-related risks and the quest to attain USA’s net-zero emissions targets by 2050: a dynamic ARDL simulations modeling approach

Usman,

Ozkan,

Alola

et al. 2024

Environ Sci Pollut Res

Self Cite

View full text Add to dashboard Cite

show abstract

“…In the literature, the intricate relationship between oil price and renewable energy development in oil-exporting and oil-exporting countries has not hitherto been well discussed empirically. As shown in Table 1, various studies have been carried out on the relationship between oil prices and renewable energy consumption (e.g., [19][20][21][22]). One common finding in these studies is that oil prices have significant impacts on REC.…”

Section: Literature Reviewmentioning

confidence: 99%

The Differential Effects of Oil Prices on the Development of Renewable Energy in Oil-Importing and Oil-Exporting Countries in Africa

2023

View full text Add to dashboard Cite

The shift to renewable sources of energy has become a critical economic priority in African countries due to energy challenges. However, investors in the development of renewable energy face problems with decision making due to the existence of multiple criteria, such as oil prices and the associated macroeconomic performance. This study aims to analyze the differential effects of international oil prices and other macroeconomic factors on the development of renewable energy in both oil-importing and oil-exporting countries in Africa. The study uses a panel vector error correction model (P-VECM) to analyze data from five net oil exporters (Algeria, Angola, Egypt, Libya and Nigeria) and five net oil importers (Kenya, Ethiopia, Congo, Mozambique and South Africa). The study finds that higher oil prices positively affect the development of renewable energy in oil-importing countries by making renewable energy more economically competitive. Economic growth is also identified as a major driver of the development of renewable energy. While high-interest rates negatively affect the development of renewable energy in oil-importing countries, it has positive effects in oil-exporting countries. Exchange rates play a crucial role in the development of renewable energy in both types of countries with a negative effect in oil-exporting countries and a positive effect in oil-importing countries. The findings of this study suggest that policymakers should take a holistic approach to the development of renewable energy that considers the complex interplay of factors, such as oil prices, economic growth, interest rates, and exchange rates.

show abstract

“…Beyond technological progress, such R&D infl uences broader ecological sustainability, reducing carbon emissions and fortifying energy infrastructure resilience . Simultaneously, integrating renewable sources such as solar, wind, hydro and bioenergy provides cleaner, sustainable alternatives to traditional fossil fuels (Olanipekun et al, 2023;Eweade et al, 2022;Paraschiv and Paraschiv, 2023;Olabi et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

Examining the Effects of Energy Efficiency R&D and Renewable Energy on Environmental Sustainability Amidst Political Risk in France

Özkan,

Sunday Eweade,

Sunday Adebayo

2024

Politicka ekonomie

Self Cite

View full text Add to dashboard Cite

The urgent need to address climate change and the depletion of natural resources has led governments worldwide to allocate significant resources towards research and development in clean energy technologies and energy efficiency. This study evaluates the effectiveness of renewable energy and energy efficiency initiatives in reducing CO 2 emissions, taking into account the influences of natural resource availability and political risk. Using data from France spanning from 1985 to 2021, we employ the kernel-based regularized least squares (KRLS) methodology, complemented by quantile regression (QR), to analyse these relationships. Our findings indicate that policies promoting energy efficiency and green energy have a positive impact on reducing CO 2 emissions. However, the availability of natural resources and political risk exacerbate environmental challenges by increasing CO 2 emissions. Thus, our study underscores the importance of continued support from policymakers for renewable energy development and energy efficiency research to effectively pursue Sustainable Development Goals (SDGs). Additionally, as the world prepares for COP28, our findings emphasize the urgency of these initiatives in meeting global climate targets.

show abstract

Is renewable energy use lowering resource-related uncertainties?

Cited by 34 publications

References 73 publications

Energy security-related risks and the quest to attain USA’s net-zero emissions targets by 2050: a dynamic ARDL simulations modeling approach

Energy security-related risks and the quest to attain USA’s net-zero emissions targets by 2050: a dynamic ARDL simulations modeling approach

The Differential Effects of Oil Prices on the Development of Renewable Energy in Oil-Importing and Oil-Exporting Countries in Africa

Examining the Effects of Energy Efficiency R&D and Renewable Energy on Environmental Sustainability Amidst Political Risk in France

Contact Info

Product

Resources

About