Asymmetric impacts of climate policy uncertainty, investor sentiment on energy prices and renewable energy consumption: Evidence from NARDL and wavelet coherence.

This paper seeks to look into the asymmetric impacts posed by climate policy uncertainty (CPU) and investor sentiment (IS) upon the price of non-renewable energy, specifically natural gas prices, and the consumption of renewable energy, embodied in geothermal energy, biofuels, and fuel ethanol. To this end, the analysis draws on a non-linear autoregressive distributed lag (NARDL) model and wavelet coherence (WTC) technique with monthly data from January 2000 to December 2021. The NARDL results establish an asymmetric association between the variables, where negative shocks to CPU exert a greater effect on each energy variable than positive shocks, while the reverse is true for IS. Furthermore, it has been noticed that CPU and IS exhibit primarily negative correlations with the target variables over the long term, with CPU having a more pronounced effect on natural gas prices than on other forms of renewable energy consumption. Wavelet analysis also reveals that CPU leads the energy variables over the medium to long run, while IS assumes a dominant role in the short to medium run. These momentous findings underscore the importance of this study in informing energy policy formulation and environmental management, as well as optimizing investor portfolios.

Unpacking the environmental quality through the effects of natural resources, renewable energy consumption, banking development and industrial value addition: An empirical evidence from BRICS countries.

This study explores the association between natural resources rent, industrial value addition, banking development, renewable energy consumption, total reserves and environmental quality in the dynamic context of BRICS nations from 1995 to 2019. BRICS economies are responsible for global greenhouse gas emissions and confront pressing environmental challenges, including biodiversity loss and pollution. For the dependent variable, the environmental quality, the study constructed a composite index using PCA for all environmental indicators where interdependencies among variables are prevalent. Besides this, the study incorporates two interaction terms to determine the indirect influence of natural resource rent and banking development on environmental quality through the mediating role of industrial value addition. By applying the CS-ARDL technique, the outcomes of the study reveal that natural resources rent, industrial value addition, and total reserves positively influence ENQ, indicating the adverse consequences of industrial sectors on environmental quality and continued environmental degradation due to resource-intensive industrial production, underscoring the urgency of sustainable resource management. In contrast, banking development and renewable energy consumption negatively influence ENQ, signifying the positive role of developed banking sectors in supporting eco-friendly projects and enhancing environmental quality. This study offers valuable insights for policy interventions to foster a more sustainable future.

Exploring the impact of financial globalization, good governance and renewable energy consumption on environmental pollution: Evidence from BRICS-T countries.

The nations of Brazil, Russia, India, China, South Africa, and Turkey (BRICS-T) have yet to find a satisfactory answer to the problem of how to reduce environmental pollution in their environments significantly. Using panel data from 1990 to 2022, this study analyzes the dynamic relationship between energy financial globalization (FG), good governance (GG), renewable energy consumption (REC), urbanization (URB), economic growth (GDP), and environmental pollution. To estimate the long-run and short-run interaction among the variables, this research included the Cross-sectional- ARDL. This research shows that economic growth, energy use, urbanization, and environmental degradation correlate positively and significantly. In contrast, the BRICS-T economies have significantly reduced environmental pollution due to FG, GG and REC. These results also lend credence to the Environmental Kuznets Curve (EKC) concept for developing nations, which has been the focus of recent attention. Additionally, the results from fixed effects-difference in differences (FE-DK) and AMG robustness tests also validate the results from the CS-ARDL estimator. Finally, the findings found that the BRICS-T countries may benefit from this study.

Impacts of renewable and disaggregated non-renewable energy consumption on CO2 emissions in GCC countries: A STIRPAT model analysis.

This research investigates the effects of renewable (REC) and disaggregated non-renewable energy consumption (coal, oil, and natural gas) on CO2 emissions (CO2) in GCC countries, employing the STIRPAT model. The research also compares the impact of various non-renewable energy (NREC) sources to identify their contributions to CO2 emissions. Demographic factors like population and economic growth are considered main determinants of CO2. Panel data econometric methods are used, including diagnostic tests and unit root tests, to found long-run relationships among the variables. The study reveals significant positive associations between coal, natural gas, oil consumption and CO2, with oil having the highest impact. Conversely, REC shows a significant negative correlation with CO2. Economic growth and population are also linked to increased CO2. The findings emphasize the need for strategies promoting renewable energy usage, energy efficiency, public transportation, carbon pricing, and research in green technologies to alleviate CO2 and enhance sustainable development in the GCC countries.

Urbanization and renewable energy consumption in the emerging ASEAN markets: A comparison between short and long-run effects.

The emerging markets in the ASEAN region, such as Indonesia, Malaysia, the Philippines, Thailand and Vietnam, have put great effort into achieving dual objectives: (i) supporting economic growth and (ii) combating environmental degradation simultaneously. These objectively depend on the fast urbanization taking place in these countries. While increased energy consumption from urbanization supports economic growth, urbanization is a key driver of environmental degradation. This paper examines a potential link between urbanization and renewable energy consumption, primarily ignored in current literature, particularly in the ASEAN-5 countries. Findings from this paper indicate that, despite the adverse effect of urbanization on renewable energy consumption in the short run, a positive effect is found in the long run for these emerging ASEAN markets, except Malaysia. The Philippines appears to balance well between urbanization and renewable energy consumption in the short and long run. Policy implications have emerged based on the findings of this paper.

Combining the role of urbanization and renewable energy in sustainable development: testing the EKC hypothesis for Africa.

The pressing necessity to curb greenhouse gas emissions due to climate change has sparked significant scientific interest in comprehending the factors behind CO2 emissions, particularly concerning environmental sustainability challenges. Nonetheless, there exists a notable gap in our understanding of how the process of urbanization interacts with the utilization of renewable energy to impact CO2 emissions. This research endeavor seeks to evaluate the complex interplay among urbanization, renewable energy, and CO2 emissions across 46 African nations spanning from 1990 to 2019. To accomplish this objective, a variety of econometric methodologies are employed, including Driscoll-Kraay standard errors, IV-GMM, and method of moments quantile regression (MMQR) panel estimations to address issues like cross-sectional dependencies, endogeneity, heterogeneity, and panel Granger causality examination. The empirical results suggest that urbanization leads to an increase in CO2 emissions, whereas the consumption of renewable energy plays a role in enhancing environmental quality by reducing CO2 emissions. A significant outcome of the study is the revelation that a combination of urbanization and renewable energy leads to a decrease in carbon emissions. Moreover, the Environmental Kuznets Curve (EKC) hypothesis is validated. Lastly, through the Dumitrescu-Hurlin panel causality test, it is uncovered that urbanization and renewable energy consumption exhibit a bidirectional relationship with CO2 emissions. To reduce dependence on fossil fuels and curb CO2 emissions, policymakers should promote renewable energy usage in urban areas.

Optimal configuration method of demand-side flexible resources for enhancing renewable energy integration.

Demand-side flexible load resources, such as Electric Vehicles (EVs) and Air Conditioners (ACs), offer significant potential for enhancing flexibility in the power system, thereby promoting the full integration of renewable energy. To this end, this paper proposes an optimal allocation method for demand-side flexible resources to enhance renewable energy consumption. Firstly, the adjustable flexibility of these resources is modeled based on the generalized energy storage model. Secondly, we generate random scenarios for wind, solar, and load, considering variable correlations based on non-parametric probability predictions of random variables combined with Copula function sampling. Next, we establish the optimal allocation model for demand-side flexible resources, considering the simulated operation of these random scenarios. Finally, we optimize the demand-side resource transformation plan year by year based on the growth trend forecast results of renewable energy installed capacity in Jiangsu Province from 2025 to 2031.

Examining the relationship between international digital trade, green technology innovation and environmental sustainability in top emerging economics.

Ensuring preserving a sustainable environment is a crucial concern for individuals worldwide. In previous research, CO2 emissions have been used to measure environmental deterioration. However, in this study, we have expanded the scope to include carbon emissions and several other gases. This comprehensive measure is referred to as the ecological footprint (EFP). More significant international digital trade (IDT) has the potential to achieve several positive results, including reducing EFP (economic frictions and barriers), stimulating economic growth, and minimizing trade risk and volatility. These benefits can be realized by implementing structural reforms in significant production and development sectors. Green technology innovation (GTI) has the potential to make substantial progress in ecological quality and energy efficiency. Nevertheless, previous studies still need to adequately prioritize examining rising economies in terms of international trade diversification and GTI. This study examined the effects of IDT, GTI, and renewable energy consumption (REC) on EFP in BRICST countries. The study utilized data from the period between 1995 and 2022. The cross-sectionally augmented autoregressive distributed lag (CS-ARDL) model demonstrates that EFP negatively correlates with trade diversification, REC, and GTI in the long and short term. These countries have demonstrated a significant presence of eco-friendly products in their trade portfolios, and their manufacturing processes are shifting towards GTI. The objective is to enhance the REC sources and minimize EFP from consumption. Conversely, the increasing economic growth within this economic group has a compounding impact on the environment's decline since it amplifies the carbon emissions from increased consumption. To reduce the EFP level, the paper suggests increasing investment in GTI, promoting worldwide digital trade, and embracing renewable energy sources.

Does tourism development, financial development and renewable energy drive high-quality economic development?

Tourism development is generally agreed upon to be a key tool in promoting economic growth, and green development has emerged as a significant idea and an efficient approach to accomplish this goal in a manner that is environmentally responsible. It is common knowledge that making the switch to renewable sources of energy may act as a catalyst for economic development in both developed and developing nations. Therefore, people all over the globe are beginning to realize the significance of advancing renewable energy's rising importance that suggests that it will be used extensively in the years to come. The purpose of this study is to examine the effect that increasing tourism and adopting renewable energy sources impact on green economic growth development in the region using the AMG test BRICS nations from 2001 to 2022. This research additionally makes use of a rigorous check by means of the CCEMG exam and the DCCEMG test. According to the findings, green economic growth is influenced favorably by the expansion of the tourist industry, renewable energy, and the digital economy, but urbanization and the rise financial industry are detrimental to green economic growth. D-H panel causality test results show that tourism development is causally related to green economic growth, green economic growth to urbanization, and green economic growth to the usage of renewable energy sources. According to these results, the management authorities of BRICS nations should embrace policies of green growth while also controlling environmental pollution in order to achieve sustainable economic development whereas in rural areas. The findings have major policy implications for the nations that make up the BRICS bloc. These implications pertain to the enhancement of tourist development, the digital economy (DIG), and financial institutions, all of which have the potential to improve environmental quality.

Exploring the impact of circular economy practices on ecological footprint, inflation rate, and renewable energy consumption: evidence from G20 economies.

The circular economy (CE) has acquired significant interest for its potential to contribute to sustainable development (SD). The present study utilizes empirical methodology, specifically panel data analysis, to examine the distinct effects and outcomes of the circular economy and its associated factors within a unified framework. The focus is on the G20 countries from 2008 to 2021. We evaluated the influence of various CE value sources (renewable energy consumption, composting rate, repair services availability, recycling rate) and a factor-analysis-derived measure of the CE on economic, environmental, and social aspects of SD. The objective was to assess the distinct effects and outcomes of CE and its components in a unified framework-the analysis utilized panel data from G20 countries from 2008 to 2021. Our findings show a substantial influence of CE in achieving SD, with positive implications for the economy, environment, and society. However, the impact of each CE value source on the SD dimensions shows variation. While renewable energy consumption (RENEC) and composting rate (CR) lessen environmental impact, recycling rate (RR) shows no significant effect, and repair services availability (RSA) increases the Ecological Footprint (EFP). Notably, RSA is the sole CE component, showing a positive economic impact at the national level. Additionally, RENEC, RSA, and RR contribute to reducing the inflation rate (INFR). Policymakers should undertake detailed impact assessments to develop effective, tailored strategies based on each country's unique goals. The findings of this study have important policy implications, particularly in terms of emphasizing targeted strategies for implementing CE practices to achieve sustainable development.

A Novel Control Strategy for Soft Open Point to Address Terminal Voltage Violations and Load Rate Imbalance in Low-Voltage Power Distribution Station Areas.

In low-voltage power distribution station areas (DSAs), sensor devices and communication networks are often inadequate. Therefore, the control strategies mainly used for soft open points (SOPs) based on global information in medium-voltage distribution networks are difficult to be directly applied to low-voltage DSAs. This paper proposes a novel control strategy for SOP that only requires collecting the local information of SOP and the load rate of transformers. It aims to address the issues faced of voltage violations at the end of feeders and the load rate imbalance among adjacent DSAs under the current high penetration of renewable energy sources. In this paper, first, a sensor network consisting of sensor devices located at the transformers and each port of the SOP is introduced for information collection. Then, based on the sensitivity relationship between the node voltage and the injected power, considering capacity and voltage safety constraints, the adjustable range of the active power output for each port of the SOP is derived. According to this range, the operating states of the DSAs are categorized into four scenarios. For each scenario, the adjustment amount of SOP output power is determined to achieve comprehensive regulation of terminal voltage and load rate of all DSAs interconnected by SOP. Finally, the effectiveness of the proposed strategy is verified based on a simulation model of three flexible interconnected DSAs established in MATLAB/Simulink.

Renewable energy consumption - financial globalization-tourism nexus with nonlinearity and cross-sectional dependence during Asia's carbon-free transition.

Adopting renewable energy consumption is one of the most important aspects of international efforts to combat climate change, improve energy security, and encourage the shift to a more robust and sustainable energy system. Therefore, the empirics and policymakers worldwide are searching for factors that can promote renewable energy consumption. This analysis intends to investigate the role of financial globalization and tourism on renewable energy consumption in Asia and sub-regions such as Central Asia, East Asia, South Asia, Southeast Asia, and West Asia. The analysis utilized the linear and nonlinear CS-ARDL methods. Long-run outcomes of the linear and nonlinear models confirm that a rise in financial globalization and tourism promotes renewable energy consumption in Asia and all sub-regions. However, the nonlinear model highlights that a fall in financial globalization hurts renewable energy consumption in Central and South Asian regions, and tourism only hurts renewable energy consumption in Asia. In addition, ICT, GDP, and GHG emissions help promote renewable energy consumption. These results suggest that Asian policymakers must increase collaboration in the financial sectors and promote sustainable tourism in the regions to promote renewable energy consumption.

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

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.

Renewable energy consumption and CO2 emissions nexus in the USA: the role of technical innovation.

Using the QARDL approach and data from January of 2010 to May of 2022, we explore how renewable energy consumption affects CO2 emissions in the USA. Long-term analysis reveals a negative link between these variables, while only lower quantile levels show short-term statistical significance. Integrating technical innovation (measured by patents) in our QARDL model shows substantial reduction in CO2 emissions, with varying effects over time. Interestingly, only renewable energy consumption, not technical innovation, significantly impacts CO2 emissions at lower quantile levels. These findings emphasize the crucial role of renewable energy in reducing both short-term and long-term CO2 emissions and offer policymakers valuable insights for shaping effective energy strategies to combat emissions and promote sustainability in the USA.

How do information and communication technology, human capital and renewable energy affect CO2 emission; New insights from BRI countries.

If nations want to attain sustainable development with the exponential growth of information and communication technology (ICT) around the world, they must understand the connection between ICT and carbon emissions. Therefore, this study has used panel data from 64 ''Belt and Road Initiative economies between 2000 and 2021 while finding the impact of ICT, renewable energy consumption (REC), human capital (HC) and economic growth (EG) on CO2 emissions. This study employs the Augmented Mean Group (AMG) estimator, Mean Group (MG) estimator and the Dumitrescu-Hurlin panel causality. The findings indicate that the use of ICT, HC and the REC are inversely related to CO2 emissions, whereas EG is positively associated to CO2 emissions and hence poses a danger to environmental sustainability. In addition, the interaction term of EG with ICT, REC and HC has negative impact on CO2 emissions in BRI economies. Intriguingly, the results reveal that ICT and CO2 emissions has inverted U-shape relationship in BRI economies. Furthermore, the causality results show that ICT, REC, and human capital are all cause and effect linkages that affect CO2 emissions in both directions. In order to reduce energy utilization and boost economic growth, the findings stress the importance of implementing cutting-edge ICT and REC in the industrial sector.

What contributes more to BRI economic growth, renewable or non-renewable energy consumption: A third generation panel data analysis.

Given the increasing investment by Belt and Road Initiative (BRI) participants in the renewable energy industry, it is imperative to ascertain how much this investment contributes to economic growth. The objective of this study is to ascertain the extent to which renewable energy contributes to economic growth within the Belt and Road Initiative compared to non-renewable energy sources. Prior studies have yet to incorporate oil prices as a variable in the production function, among other output aspects. This study integrates the inclusion of real oil prices as a variable within the production function alongside capital, labor, renewable energy consumption, and non-renewable energy consumption. A cohort including 49 Belt and Road Initiative participants was formed, encompassing data from 1990 to 2019. The data has undergone an initial examination to assess cross-sectional dependence, slope heterogeneity, and structural break(s), and are verified. Hence, third-generation panel data analysis has been utilized. The continuously updated fully modified estimator and continuously updated biased corrected estimator provide evidence supporting the notion that renewable energy plays a substantial role in fostering economic growth within nations participating in the Belt and Road Initiative. Furthermore, this contribution is found to be more pronounced when compared to the impact of non-renewable energy sources. The study's findings inform policy recommendations at both the BRI and national level.

The role of environmental diplomacy and economic factors on environmental degradation.

In recent years, rising carbon dioxide (CO2) emissions and other negative environmental effects of human activity have raised concerns about the planet's future. Rapid industrialization, urbanization, and economic activity have shown a surge in CO2 emissions, contributing to global warming and climate change. The main purpose of this study is to examine the impact of such as gross domestic product, gross domestic product square, foreign direct investment, environmental diplomacy, environmental diplomacy security, and renewable energy consumption on environmental degradation. This study provides a new perspective on environmental diplomacy in OECD countries using panel data econometric methodologies from 1991 to 2020. It contributes to our understanding of the role of environmental and economic factors in reducing CO2 emissions. The panel data is also analyzed by CD, CIPS, FMOLS, DOLS, and PMG-ARDL tests. However, as per the findings of this research, all the factors significantly impact environmental degradation (Co2 emission). Finding data to either confirm or deny the efficacy of the Environmental Kuznets Curve theory within the framework of OECD countries is possible through this approach. This policy framework attempts to solve the issues at the connection of environmental diplomacy and economic concerns by emphasizing cooperation and sustainability and incorporating environmental considerations into economic decision-making processes in OECD countries.

Long run renewable energy productivity, carbon capture patents and air quality in Taiwan.

This study investigates the connection between nonrenewable energy productivity, renewable energy productivity, and air quality degradation in Taiwan from 2002 to 2019. We specifically emphasize the novel contribution of analyzing the productivity of renewable energy consumption. Robust estimation models, namely Nonlinear Autoregressive Distributed Lag (NARDL) and Robust Standard Estimation, are employed for comprehensive analyses. Our findings reveal a strong correlation between nonrenewable energy productivity and increased air pollutants, highlighting the significant impact of fossil fuels on air quality deterioration. Although renewable energy productivity demonstrates a negative association with air degradation, its effect is not statistically significant. This can be attributed to Taiwan's continued reliance on non-renewable energy sources within the overall energy mix. Hence, reducing dependence on fossil fuels is crucial for improving air quality. Importantly, the identified relationships have long-term implications, underscoring the necessity of persistent policy measures that promote renewable energy transition and emissions reduction over time. Our research emphasizes the urgency of addressing fossil fuel dependency to mitigate air pollution and highlights the potential benefits of enhancing renewable energy efficiency to achieve cleaner and healthier environments.

The key to sustainability: In-depth investigation of environmental quality in G20 countries through the lens of renewable energy, economic complexity and geopolitical risk resilience.

The world is currently facing urgent climate and environmental issues, such as global warming, ecosystem collapse, and energy shortages. In this context, this study selected data from 2000 to 2021 and employed the Method of Moment Quantile Regression (MMQR) to thoroughly investigate the impact of renewable energy consumption, economic complexity, and geopolitical risks on the ecological footprint of the Group of Twenty (G20) countries. The results indicate that in countries with lower quantiles, renewable energy consumption significantly reduces the ecological footprint, whereas its effect is not prominent in countries with higher quantiles. Economic complexity has a negative impact on the ecological footprint, and this impact becomes stronger as the quantile of the ecological footprint rises. Additionally, economic complexity moderates the effect of renewable energy on the ecological footprint. Geopolitical risks facilitate the growth of the ecological footprint. Likewise, robustness tests such as DOLS, FMOLS, and quantile regression confirm these estimates in the same framework. This study has conducted a profound analysis of global environmental issues, offering innovative perspectives and recommendations for achieving goals related to sustainable energy utilization, mitigating climate change, and improving the ecological environment. The findings of this research will guide policymakers in G20 countries to adopt more effective environmental protection measures, thereby contributing to the construction of a sustainable future.

Empirical Analysis of Energy Consumption and Economic Growth in Post-Soviet Eurasia: Do They Matter for Foreign Policy?

This study aims to evaluate the relationship between renewable and non-renewable energy consumption and economic growth in post-Soviet Eurasian countries by employing panel data from 15 countries from 1996 to 2018. The results reveal that the contribution of renewable energy consumption (REC) to economic growth is greater than non-renewable energy consumption. The overall findings imply that the transformation of energy consumption from non-renewable to renewable offers environmental advantages and growth opportunities. Furthermore, the transition to renewables may also expand the range of foreign relations policy options available for these countries, which, in turn, might contribute to a better alignment with evolving global regimes. Transition demands towards the long-term sustainability of global energy sources put pressure on countries to expand their domestic policy efforts and join international cooperation efforts. Therefore, post-Soviet Eurasian countries should develop strategic policy mechanisms and reforms designed to accelerate investments in renewable energy technologies.