The impact of technological innovation on renewable energy production: accounting for the roles of economic and environmental factors using a method of moments quantile regression
Advancement in renewables is one of the most effective techniques for sustained long-term development, and nations across the globe are making efforts to change their economic and industrial structures in a bid to boost green growth. With the advent of the Fourth Industrial Revolution (4IR), the ava...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2022-07-01
|
| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844022012014 |
| _version_ | 1818503004575236096 |
|---|---|
| author | Sakiru Adebola Solarin Mufutau Opeyemi Bello Aviral Kumar Tiwari |
| author_facet | Sakiru Adebola Solarin Mufutau Opeyemi Bello Aviral Kumar Tiwari |
| author_sort | Sakiru Adebola Solarin |
| collection | DOAJ |
| description | Advancement in renewables is one of the most effective techniques for sustained long-term development, and nations across the globe are making efforts to change their economic and industrial structures in a bid to boost green growth. With the advent of the Fourth Industrial Revolution (4IR), the availability, access, and use of green technologies including renewable energy have significantly improved. Researches on the factors that influence renewable energy production are available. However, we are unaware of any previous research that examines the role of renewable energy innovation in the promotion of renewable energy production. As a result, this study evaluates the impact of technical innovation on green growth from 1993 to 2018, while accounting for real GDP, producer price index, and CO2 emissions. Due to their pivotal status among the developing countries, our study has focused on the BRICS countries. By using a new panel quantile regression augmented with the method of moments, the empirical findings suggest that the influence of renewable energy innovation on renewable energy production is significantly positive across all quantiles. Moreover, the coefficients are generally bigger at the small quantiles, which suggests that countries with smaller renewable energy production per capita (India and South Africa) have a higher probability to experience a greater impact of renewable energy innovation per capita than countries with bigger renewable energy production per capita (Brazil and Russia). |
| first_indexed | 2024-12-10T21:18:04Z |
| format | Article |
| id | doaj.art-22d6c17a2bef451ea593e205e394db1b |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-12-10T21:18:04Z |
| publishDate | 2022-07-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-22d6c17a2bef451ea593e205e394db1b2022-12-22T01:33:13ZengElsevierHeliyon2405-84402022-07-0187e09913The impact of technological innovation on renewable energy production: accounting for the roles of economic and environmental factors using a method of moments quantile regressionSakiru Adebola Solarin0Mufutau Opeyemi Bello1Aviral Kumar Tiwari2School of Economics, University of Nottingham - Malaysia Campus Jalan Broga, 43500, Semenyih, Malaysia; Corresponding author.Faculty of Social Sciences, Department of Economics, University of Ilorin, PMB 1515, Ilorin, NigeriaIndian Institute of Management Bodh Gaya, Uruvela, Prabandh Vihar, Bodh Gaya, 824234, Gaya, Bihar, IndiaAdvancement in renewables is one of the most effective techniques for sustained long-term development, and nations across the globe are making efforts to change their economic and industrial structures in a bid to boost green growth. With the advent of the Fourth Industrial Revolution (4IR), the availability, access, and use of green technologies including renewable energy have significantly improved. Researches on the factors that influence renewable energy production are available. However, we are unaware of any previous research that examines the role of renewable energy innovation in the promotion of renewable energy production. As a result, this study evaluates the impact of technical innovation on green growth from 1993 to 2018, while accounting for real GDP, producer price index, and CO2 emissions. Due to their pivotal status among the developing countries, our study has focused on the BRICS countries. By using a new panel quantile regression augmented with the method of moments, the empirical findings suggest that the influence of renewable energy innovation on renewable energy production is significantly positive across all quantiles. Moreover, the coefficients are generally bigger at the small quantiles, which suggests that countries with smaller renewable energy production per capita (India and South Africa) have a higher probability to experience a greater impact of renewable energy innovation per capita than countries with bigger renewable energy production per capita (Brazil and Russia).http://www.sciencedirect.com/science/article/pii/S2405844022012014Renewable energy innovationRenewable energy productionSustainable developmentBRICSPanel quantile regression |
| spellingShingle | Sakiru Adebola Solarin Mufutau Opeyemi Bello Aviral Kumar Tiwari The impact of technological innovation on renewable energy production: accounting for the roles of economic and environmental factors using a method of moments quantile regression Heliyon Renewable energy innovation Renewable energy production Sustainable development BRICS Panel quantile regression |
| title | The impact of technological innovation on renewable energy production: accounting for the roles of economic and environmental factors using a method of moments quantile regression |
| title_full | The impact of technological innovation on renewable energy production: accounting for the roles of economic and environmental factors using a method of moments quantile regression |
| title_fullStr | The impact of technological innovation on renewable energy production: accounting for the roles of economic and environmental factors using a method of moments quantile regression |
| title_full_unstemmed | The impact of technological innovation on renewable energy production: accounting for the roles of economic and environmental factors using a method of moments quantile regression |
| title_short | The impact of technological innovation on renewable energy production: accounting for the roles of economic and environmental factors using a method of moments quantile regression |
| title_sort | impact of technological innovation on renewable energy production accounting for the roles of economic and environmental factors using a method of moments quantile regression |
| topic | Renewable energy innovation Renewable energy production Sustainable development BRICS Panel quantile regression |
| url | http://www.sciencedirect.com/science/article/pii/S2405844022012014 |
| work_keys_str_mv | AT sakiruadebolasolarin theimpactoftechnologicalinnovationonrenewableenergyproductionaccountingfortherolesofeconomicandenvironmentalfactorsusingamethodofmomentsquantileregression AT mufutauopeyemibello theimpactoftechnologicalinnovationonrenewableenergyproductionaccountingfortherolesofeconomicandenvironmentalfactorsusingamethodofmomentsquantileregression AT aviralkumartiwari theimpactoftechnologicalinnovationonrenewableenergyproductionaccountingfortherolesofeconomicandenvironmentalfactorsusingamethodofmomentsquantileregression AT sakiruadebolasolarin impactoftechnologicalinnovationonrenewableenergyproductionaccountingfortherolesofeconomicandenvironmentalfactorsusingamethodofmomentsquantileregression AT mufutauopeyemibello impactoftechnologicalinnovationonrenewableenergyproductionaccountingfortherolesofeconomicandenvironmentalfactorsusingamethodofmomentsquantileregression AT aviralkumartiwari impactoftechnologicalinnovationonrenewableenergyproductionaccountingfortherolesofeconomicandenvironmentalfactorsusingamethodofmomentsquantileregression |