Renewable Energy Consumption and its Main Drivers in Latin American and Caribbean Countries: A Robust Analysis Between Static and Dynamic Panel Data Models

2021 ◽  
Vol 9 (1) ◽  
pp. 37-61
Author(s):  
S. Menéndez-Carbo
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Latin American ◽  
Energy Demand ◽  
Clean Energy ◽  
Dynamic Panel Data ◽  
Green Energy ◽  
Renewable Energy Consumption ◽  
Per Capita ◽  
Latin American And Caribbean

This study examines the potential drivers of renewable energy consumption for 22 Latin American and Caribbean countries during 2005–2014. I use the sys-GMM method to deal with the presence of endogeneity, countryspecific components and serial correlation within observations. Results confirm the dynamic behaviour of green energy consumption. Moreover, GDP per capita and CO2 emissions per capita are the determinants of this clean energy source. The positive effect of per capita GDP implies that a non-depleting alternative source has been used to satisfy an increasing energy demand, which was experienced due to the acceleration of economic growth in the region. On the other hand, the negative effect of per capita CO2 emissions reflects the weight that fossil fuels have in the energy mix. Because of some of the analysed countries’ oil-producer nature, oil prices rise is not enough for a switch response.

RENEWABLE ENERGY CONSUMPTION, POLITICAL AND INSTITUTIONAL FACTORS: EVIDENCE FROM A GROUP OF EUROPEAN, ASIAN AND LATIN AMERICAN COUNTRIES

2015 ◽  
Vol 60 (01) ◽  
pp. 1550008 ◽  
Author(s):  
NICHOLAS APERGIS ◽  
SOFIA ELEFTHERIOU
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Latin American ◽  
Clean Energy ◽  
Institutional Factors ◽  
Renewable Energy Consumption ◽  
Political Factors ◽  
Panel Causality ◽  
Short Run ◽  
Dynamic Relationships

This paper explores the dynamic relationships between renewable energy consumption and a number of institutional and political factors for a group of countries from Europe, Asia and Latin America spanning the period 1995–2011. The paper employs the methodology of long and short-run panel causality approach as well as the methodology of the panel Error Correction model. The empirical findings provide strong evidence that, after controlling the economic environment, both political and institutional factors exert a strong and statistically significant effect on renewable energy consumption. These findings are expected to have serious implications for policies related to clean energy.

scholarly journals Repercussions of Sustainable Agricultural Productivity, Foreign Direct Investment, Renewable Energy, and Environmental Decay: Recent Evidence from Latin America and the Caribbean

2021 ◽  
Vol 9 ◽  
Author(s):  
Sobia Naseem ◽  
Wang Hui ◽  
Muddassar Sarfraz ◽  
Muhammad Mohsin
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Latin American ◽  
Environmental Sustainability ◽  
Renewable Energy Consumption ◽  
Speed Of Adjustment ◽  
Long Run ◽  
Short Run ◽  
The Relationship ◽  
Latin American And Caribbean

This research aimed to assess and implement the long- and short-run relationship of agriculture and environmental sustainability with control variables. Purposely, this research consolidated theoretical and conceptual principles to create a systematic structure in agriculture for the development of both sectors, i.e., agricultural and the environment. On this ground statement, this research was motivated to contemplate the relationship between carbon dioxide emission, agricultural production, gross domestic product, renewable energy consumption, and foreign direct investment using annual data series of Latin American and Caribbean countries from 1971 to 2018. Autoregressive distributed lag (ARDL) was used as an econometric methodology to examine the relationship among the variables. Agriculture is the most vulnerable sector in Latin American and Caribbean countries, and the economy is heavily dependent on it. The main results of this research indicated that agriculture and CO2 emissions were positively related to each other for the long and short run, which means that agricultural activities increased the CO2 emission levels. At the same time, the control variables showed mixed associations with environmental degradation as gross domestic product (GDP) was positively significant and renewable energy consumption was negatively significant. The error correction (ECt−1) term was negatively significant, confirming the long-run relationship and the speed of adjustment from short- to long-run equilibrium. Agricultural production and GDP led to increments in CO2 emissions, while renewable energy consumption negatively contributed to toxic emissions. The speed of adjustment in Latin American and Caribbean countries was nippy. It required 2.933 periods for the transformation from the short periodic phase to the long term. A comprehensive approach is the research debate rigorously and holistically based on divergent sectors of an economy and their relationship with environmental sustainability. The econometric method, symbolic system, and conceptual existence were designed originally.

scholarly journals The Impact of Green Finance Development on China’s Energy Structure Optimization

2021 ◽  
Vol 2021 ◽  
pp. 1-12
Author(s):  
Hui Wang ◽  
Lili Jiang ◽  
Hongjun Duan ◽  
Yifeng Wang ◽  
Yichen Jiang ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Local Development ◽  
Clean Energy ◽  
Green Energy ◽  
Energy Structure ◽  
Renewable Energy Consumption ◽  
Consumption Structure ◽  
Green Finance ◽  
The Impact

This paper studies the impact of the development of green finance on China’s energy consumption structure. 17 basic indexes and the improved entropy weight method are used to construct the green finance index (GFI). Multiple regression, panel regression, and spatial regression are used to study the impact of green finance on China’s traditional energy and renewable energy consumption. The results show that there is a positive spatial spillover effect in the development of green finance among provinces in China. The development of green finance contributes to the conversion of traditional to renewable energy consumption. The effect of green finance on the transformation of energy consumption structure is mainly reflected in the direct effect. The green finance in each province not only helps the local development of green energy but also plays a good role in the production and utilization of clean energy consumption in surrounding provinces. Therefore, the government should support the green finance, reduce traditional energy consumption, and increase renewable energy consumption.

The Effect of Population, Public Investments, and Economic Growth on Regional Renewable Energy Consumption in Turkey

2021 ◽  
pp. 491-504
Author(s):  
Özlem Karadağ Albayrak
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Panel Data ◽  
Renewable Energy Sources ◽  
Regional Scale ◽  
Dynamic Panel Data ◽  
Energy Sources ◽  
Renewable Energy Consumption ◽  
Public Investments

Making the use of renewable energy sources widespread is of paramount importance for Turkey as for all countries. In this regard, the determiners of renewable energy consumption have been investigated. The effect of determining or factors affecting the use of renewable energy sources on a regional scale to Turkey were examined with different qualitative and quantitative research techniques. In this study, the factors of economic growth, public investments, and population are analyzed by considering regional differences on the consumption of renewable energy resources. The effect of regional economic growth, regional public investments, and regional population on the amount of regional renewable energy consumption were investigated by using panel data of 26 statistical regions of Level-2 classification in the period between 2010-2018 in Turkey. The results obtained by the dynamic panel data analysis concluded that economic growth and public investments at the regional level increased renewable energy consumption while the population growth decreased.

Renewable and non-renewable energy consumption and economic growth in the US: A Markov-Switching VAR analysis

2020 ◽  
pp. 0958305X2094403
Author(s):  
Emrah Ismail Cevik ◽  
Durmuş Çağrı Yıldırım ◽  
Sel Dibooglu
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Energy Demand ◽  
Fossil Fuels ◽  
The United States ◽  
Renewable Energy Consumption ◽  
Causality Test ◽  
Long Run ◽  
The Us

We examine the relationship between renewable and non-renewable energy consumption and economic growth in the United States. While the regime-dependent Granger causality test results for the non-renewable energy consumption and economic growth suggest bi-directional causality in both regimes, we cannot validate any causality between renewable energy consumption and economic growth. The US meets its energy demand from non-renewable sources; as such, renewable energy consumption does not seem to affect economic growth. Given the efficiency and productivity of renewable energy investments, we conclude that it is worthwhile to consider renewable energy inputs to replace fossil fuels given potential benefits in terms of global warming and climate change concerns. In this regard, increasing the R&D investments in the renewable energy sectors, increases in productivity and profitability of renewable energy investments are likely to accrue benefits in the long run.

scholarly journals Dynamic linkages between renewable energy, carbon emissions and economic growth through nonlinear ARDL approach: Evidence from Iran

PLoS ONE ◽  
2021 ◽  
Vol 16 (7) ◽  
pp. e0253464
Author(s):  
M. S. Karimi ◽  
S. Ahmad ◽  
H. Karamelikli ◽  
D. T. Dinç ◽  
Y. A. Khan ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Carbon Emissions ◽  
Gdp Per Capita ◽  
Bounds Testing ◽  
Renewable Energy Consumption ◽  
Economic Implications ◽  
Long Run ◽  
Per Capita

This study examines the relationship between economic growth, renewable energy consumption, and carbon emissions in Iran between 1975–2017, and the bounds testing approach to cointegration and the asymmetric method was used in this study. The results reveal that in the long run increase in renewable energy consumption and CO2 emissions causes an increase in real GDP per capita. Meanwhile, the decrease in renewable energy has the same effect, but GDP per capita reacts more strongly to the rise in renewable energy than the decline. Besides, in the long run, a reduction of CO2 emissions has an insignificant impact on GDP per capita. Furthermore, the results from asymmetric tests suggest that reducing CO2 emissions and renewable energy consumption do not have an essential role in decreasing growth in the short run. In contrast, an increase in renewable energy consumption and CO2 emissions do contribute to boosting the growth. These results may be attributable to the less renewable energy in the energy portfolio of Iran. Additionally, the coefficients on capital and labor are statistically significant, and we discuss the economic implications of the results and propose specific policy recommendations.

scholarly journals Assessment of the Progress towards the Management of Renewable Energy Consumption in the Innovativeness Context—A Country Approach

Energies ◽  
2021 ◽  
Vol 14 (16) ◽  
pp. 5064
Author(s):  
Monika Sipa ◽  
Iwona Gorzeń-Mitka
Keyword(s):  
European Union ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Clean Energy ◽  
Petroleum Products ◽  
Energy Sources ◽  
Renewable Energy Consumption ◽  
Renewable Sources ◽  
Significant Relationships ◽  
Decisive Action

The fact that European Union (EU) countries have adopted an ambitious plan to achieve zero greenhouse gas emissions by 2050 requires decisive action within the scope of innovation and of the level of energy consumption, especially of the energy from renewable sources. Being directed toward innovation within the scope of renewable energy technology, as well as the proper management of renewable energy consumption, are the main actions aimed at increasing the efficiency of using clean energy, and which also bring the EU closer to the implementation of the assumptions adopted in the European Green Deal. The aim of our study was to assess the progress toward the management of renewable energy consumption in the innovativeness context and the relationship between energy consumption and selected indicators of innovativeness in European Union countries. We present an original ranking assessment of the progress toward the management of renewable energy consumption and identify relationships between the energy consumption of selected energy sources (both renewable and non-renewable) and of selected innovation assessment indicators. The data used to develop the original rating were optimized using the procedures of the MULTIMOORA method, while the relationships between variables were identified through correlation analysis. Our findings provide evidence of significant relationships between the consumption of selected energy sources (in the group of non-renewable sources, e.g., peat and peat products and oil and petroleum products, and in the group of renewable sources, e.g., wind, biofuels, and renewable waste) and of selected indicators of innovation evaluation (e.g., human resources, finance, and support).

scholarly journals The Relationship between Financial Development and Renewable Energy Consumption in South Asian Countries

2021 ◽  
Author(s):  
Sakib Amin ◽  
Farhan Khan ◽  
Ashfaqur Rahman
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Energy Use ◽  
Green Energy ◽  
Renewable Energy Consumption ◽  
Causality Test ◽  
Cross Sectional ◽  
Long Run ◽  
Cointegration Tests

Abstract We analyse how the financial development and green energy use are linked to the countries of South Asia from 1990 to 2018. Domestic credit to the private sector and renewable energy consumption is being used in this paper as indicators of financial development and the use of renewable energy. On the indication of cross-sectional dependency among the variables of the models, we apply second generation panel unit root tests and cointegration tests to check the stationarity properties and long-run cointegration relation among the variables. We find that variables are stationary at the first difference, and long-run cointegration exists. By applying robust dynamic heterogeneous and cross-section augmented estimators, we find that increase in GDP increases renewable energy consumption by 1.56-0.50%; however reduces by 0.07-0.03% after certain thresholds. Furthermore, increase in financial development, on average, reduces the propensity of renewable energy consumption by 0.15-0.07% in the long-run. On the other hand, the Dumitrescu-Hurlin panel causality test shows a unidirectional relationship from GDP to financial development and financial development to renewable energy consumption but not vice versa. We suggest that the selected countries revisit and restructure the renewable energy policy and emphasise institutional reforms to strengthen renewable energy development in the upcoming years.

scholarly journals Present Situation of Electrical Energy Demand, Supply, Projection of Demand-supply and Renewable Energy Utilization and Progress

2020 ◽  
Author(s):  
Md Nazmul Islam
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Energy Demand ◽  
Electrical Energy ◽  
Present Situation ◽  
Energy Utilization ◽  
Economic Activities ◽  
Power Development ◽  
Per Capita ◽  
Renewable Energy Generation

<p>A brief overview of present electricity demand, supply, projection of them and renewable energy generation and progress has been presented in this paper. Electricity is the major source of power for most of the country's economic activities. According to the Bangladesh Power Development Board in July 2018, 90 percent of the population had access to electricity. However per capita energy consumption in Bangladesh is considered low. The country has a very limited energy reserve; small amounts of oil, coal and countable natural gas reserves. The country suffers an internal energy struggle, as about 88% of the country’s power producing thermal plants are gas-based. To solve this problem, renewable energy is being used.</p>

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