Renewable energy consumption and economic growth in OECD countries: A nonlinear panel data analysis

Wang, Qiang; Wang, Lili

doi:10.1016/j.energy.2020.118200

Cited by 228 publications

(98 citation statements)

References 46 publications

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“…To be specific, renewable energy use is more effective in achieving economic growth than non-renewable energy (Dogan et al, 2020). On the other hands, the impacts changes in some circumstances, when the per capita income cross above the threshold, it is expected that more people will embrace the use of the renewable energy source and that enhance economic growth (Wang and Wang, 2020). Therefore, renewable energy consumption matters most in the developing countries, and to attain the level of economic growth depends on the amount of renewable energy consumed.…”

Section: Energy Use and Economic Outputmentioning

confidence: 99%

“…Overall, previous literature has harnessed the opportunity to assess energy use's role in the economic output (Akinlo, 2008;Dogan et al, 2020;Wang and Wang, 2020;Chen et al, 2020).…”

Section: Voice and Accountabilitymentioning

confidence: 99%

“…The leakage between energy use and economic growth has been widely examined. First, some researchers have conclude that energy consumption could be pivotal for economic growth and output (Akinlo, 2008;Dogan et al, 2020;Wang and Wang, 2020;Chen et al, 2020). On the other hand, other scholars (Liu et al, 2020;Shahbaz et al, 2020) pointed out a negative relationship between energy use and economic growth or outputs.…”

Section: Introductionmentioning

confidence: 99%

“…This study fits within a larger literature on the determinants of economic growth or output, but it provides a distinctively different perspective on how non-economic factors such as institutional quality influence economic output. Although there is some existing literature on the relationship between energy use and economic growth or outputs (Akinlo, 2008;Dogan et al, 2020;Wang and Wang, 2020;Chen et al, 2020), their study focuses on the economic variables, neglecting the impact in which non-economic variables such as institutional quality. If institutional quality is ignored, the true impact of energy use will not reflect on the economic output or growth because countries' characteristics differ.…”

Section: Introductionmentioning

confidence: 99%

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The Moderating Effects of Institutional Qualities and Energy Use on the Economic Output

Zakari¹,

Toplak²

2020

Preprint

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Energy and institutional quality are two factors that determine economic output, but these two factors are often neglected in the search for economic output. Therefore, this study examines the relative importance of energy use and its interaction with institutional quality for economic output. We employ a robust econometric estimation technique on a panel sample of 21 African countries between 2002-2019. Our results show that energy use is significant and negatively related to economic output while moderating terms of institutional quality are significantly associated with economic output, but the direction of the association depends on the specific quality. We find the moderating term control of corruption and government effectiveness to be negative and significantly associated with economic output, whilst political stability, regulatory quality, rule of laws, voice, and accountability positively impact. Our results imply that improved economic output is possible when there are specific institutional strategies.

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Section: Energy Use and Economic Outputmentioning

confidence: 99%

“…Overall, previous literature has harnessed the opportunity to assess energy use's role in the economic output (Akinlo, 2008;Dogan et al, 2020;Wang and Wang, 2020;Chen et al, 2020).…”

Section: Voice and Accountabilitymentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

The Moderating Effects of Institutional Qualities and Energy Use on the Economic Output

Zakari¹,

Toplak²

2020

Preprint

View full text Add to dashboard Cite

show abstract

“…Previous works have shown that the integration of RE, such as solar PV, the small hydro, wind, geothermal, and hydrogen, will reduce greenhouse gasses such as CO2. Also, fossil fuels, such as oil, gas, and coal, have variable prices and costly to operates [4,5]. Hence, many countries take more serious action into the use of alternative energy sources such as RE [5][6][7][8].…”

Section: Introductionmentioning

confidence: 99%

Feasibility Study of Grid-Connected PV System for Peak Demand Reduction of a Residential Building in Tehran, Iran

Alayi¹,

Khan²,

Mohmammadi³

2020

MMEP

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The use of fossil fuels for energy demand is overgrowing, leading to a higher CO2 emission. Besides, these resources have fluctuating prices and have higher operating costs. Thus, the integration of renewable energy (RE) sources has been increasing throughout the years to reduce the dependency on fossil fuel generation. However, RE generations have high initial costs and intermittent resources. Therefore, it is crucial to conduct technical and economic analysis before the installation of any hybrid energy systems. This study proposes the installation of a PV system for a residential building in Tehran, Iran. The goal of the system is to have a PV system for peak demand reduction. Moreover, the input data also includes economic parameters such as costs of PV, battery, and grid purchases alongside interest rates. Sensitivity analysis also conducted in this study to investigate the variation of load profiles on the optimal system configuration. The simulation results show a 422-kW grid-connected PV system with battery storage is the most optimal system for the selected location. The system has a lower Net Present Cost (NPC) and initial capital compared to other configurations. Moreover, the system also has a higher RE generation and lower energy import from the grid.

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Investing green for sustainable development without ditching economic growth

Balcılar

Usman

Ike

2022

Sustainable Development

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Global warming and other significant climatic changes arising from the accumulation of carbon dioxide and other greenhouse gases have placed great policy puzzles on whether to slow or not to slow gross domestic product (GDP) growth. This paper presents and estimates empirical models of growth using standard tools of growth empirics for 23 OECD countries over the period 1990-2017. The main objective is to examine the role of green energy consumption and investment on economic growth. Using the Method of Moments Quantile Regression (MMQR) with fixed effects, empirical results suggest that green energy consumption and investment-in the sense of renewable energy consumption and expenditure in renewable energy research and development (R&D)-have small, although positive effects on economic growth. These effects are heterogeneous, leading to asymmetric patterns over the conditional quantile distribution of per-capita GDP with stronger effects found in the lower quantiles. The implication of our findings is that capacity utilization in green energy consumption and investment has not been developed to a viable level that will mitigate greenhouse effects and spur sustainable development in the long run.

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Renewable energy consumption and economic growth in OECD countries: A nonlinear panel data analysis

Cited by 228 publications

References 46 publications

The Moderating Effects of Institutional Qualities and Energy Use on the Economic Output

The Moderating Effects of Institutional Qualities and Energy Use on the Economic Output

Feasibility Study of Grid-Connected PV System for Peak Demand Reduction of a Residential Building in Tehran, Iran

Investing green for sustainable development without ditching economic growth

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