The Impact of Eco-Innovation and Clean Energy on Sustainable Development: Evidence from USA

Abstract

In recent times, natural resources have been receiving greater acknowledgment from economies as it greatly offers a compensation for energy requirements. Solar energy appears to be a strong indicator to improve quality of air by reducing CO2 emissions, which has been neglected by the available literature. Therefore, the study considers exploring the dynamic role of solar energy in CO2 emissions and economic growth in a sample of the US. We applied the QARDL approach and covered the period ranging from 1990 to 2019. Our findings showcased that solar energy mitigates CO2 emissions by increasing economic growth in different quantiles in the USA. Solar energy use is increasing economic growth at higher quantiles in the USA. Eco innovations are also contributing to economic growth by reducing CO2 emissions in different quantiles. Bidirectional quantile causality was found between the constructs. This study suggested the usage of solar energy and eco-innovations in the sustainable growth pattern of the country.

Determinants of eco-innovation initiatives toward sustainability in manufacturing SMEs: Evidence from Bangladesh

“… GP4 Competitive Pressure CP Competitive pressure intensifies the eco-innovation initiatives of your firm. CP1 [ 96 ] You increase market share through environmental concepts. CP2 Competitive advantage can be acquired through environmental policy.…”

“… EI5 Economic Performance EcP Improved capacity utilization. EcP1 [ 96 ] Decrease in loss from environmental accidents. EcP2 Decrease in waste management cost.…”

“… EcP4 Environmental Performance EnP Reduction of exhaust gas, wastewater, and solid waste. EnP1 [ 96 ] Decrease in frequency of environmental accidents. EnP2 Decrease in the use of toxic material harmful to nature.…”

“…To measure Competitive pressure, 03 items were adopted from Ref. [ 96 ]. Four items for High energy prices and 03 items to measure Expected future regulation were adopted from Ref.…”

“…In the case of measuring economic performance and environmental performance, four items for each were adopted from Ref. [ 96 ]. Finally, to measure societal performance, four items were adopted from [ 97 ].…”