The role of disaggregated renewable energy consumption on income and load capacity factor: A novel inclusive sustainable growth approach
Stimulating renewable energy consumption is a major focus of the Sustainable Development Goals in combating climate change and global warming. The International Energy Agency estimates that renewable energy consumption should be doubled to achieve the COP21 targets. In this context, the question is...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2024-01-01
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| Series: | Geoscience Frontiers |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S1674987123001603 |
| _version_ | 1797390574024654848 |
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| author | Ugur Korkut Pata Qiang Wang Mustafa Tevfik Kartal Arshian Sharif |
| author_facet | Ugur Korkut Pata Qiang Wang Mustafa Tevfik Kartal Arshian Sharif |
| author_sort | Ugur Korkut Pata |
| collection | DOAJ |
| description | Stimulating renewable energy consumption is a major focus of the Sustainable Development Goals in combating climate change and global warming. The International Energy Agency estimates that renewable energy consumption should be doubled to achieve the COP21 targets. In this context, the question is whether renewable energy types promote the improvement of ecological quality and economic growth. Most studies have investigated the influence of renewable energy on ecological pollution using carbon dioxide emissions or ecological footprint indicators, which only represent the pollution caused by human consumption patterns, and these indicators neglect the supply side. Motivated by this point, this study uses the LCF (Load Capacity Factor) as an environmental indicator and examines the causality relationship among different types of renewable energy, income, and environmental quality in the USA, while also incorporating employment and capital stock into the analysis. Through using the Fourier causality test with the wavelet-decomposed series, the study explores for the validity of the renewable energy-based growth hypothesis and answers to the question of whether there is a causal effect of renewable energy types on environmental quality. The results demonstrate that there is a bidirectional causality between total renewable energy, wood, biomass, and economic growth as well as between these renewable energy types and the LCF. |
| first_indexed | 2024-03-08T23:12:49Z |
| format | Article |
| id | doaj.art-c3e713837d354f0baae5632b7f6f4e55 |
| institution | Directory Open Access Journal |
| issn | 1674-9871 |
| language | English |
| last_indexed | 2024-03-08T23:12:49Z |
| publishDate | 2024-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Geoscience Frontiers |
| spelling | doaj.art-c3e713837d354f0baae5632b7f6f4e552023-12-15T07:23:09ZengElsevierGeoscience Frontiers1674-98712024-01-01151101693The role of disaggregated renewable energy consumption on income and load capacity factor: A novel inclusive sustainable growth approachUgur Korkut Pata0Qiang Wang1Mustafa Tevfik Kartal2Arshian Sharif3Osmaniye Korkut Ata University, Faculty of Economics and Administrative Sciences, Department of Economics, Merkez, 80000 Osmaniye, Turkey; Adnan Kassar School of Business, Lebanese American University, Beirut, Lebanon; Corresponding author.School of Economics and Management, China University of Petroleum (East China), Qingdao 266580, People’s Republic of ChinaAdnan Kassar School of Business, Lebanese American University, Beirut, Lebanon; Borsa Istanbul Strategic Planning, Financial Reporting, and Investor Relations Directorate, 34467 İstanbul, TurkeyAdnan Kassar School of Business, Lebanese American University, Beirut, Lebanon; Sunway University Department of Economics & Finance, Subang Jaya, Malaysia; University of Economics and Human Sciences in Warsaw, Warsaw, PolandStimulating renewable energy consumption is a major focus of the Sustainable Development Goals in combating climate change and global warming. The International Energy Agency estimates that renewable energy consumption should be doubled to achieve the COP21 targets. In this context, the question is whether renewable energy types promote the improvement of ecological quality and economic growth. Most studies have investigated the influence of renewable energy on ecological pollution using carbon dioxide emissions or ecological footprint indicators, which only represent the pollution caused by human consumption patterns, and these indicators neglect the supply side. Motivated by this point, this study uses the LCF (Load Capacity Factor) as an environmental indicator and examines the causality relationship among different types of renewable energy, income, and environmental quality in the USA, while also incorporating employment and capital stock into the analysis. Through using the Fourier causality test with the wavelet-decomposed series, the study explores for the validity of the renewable energy-based growth hypothesis and answers to the question of whether there is a causal effect of renewable energy types on environmental quality. The results demonstrate that there is a bidirectional causality between total renewable energy, wood, biomass, and economic growth as well as between these renewable energy types and the LCF.http://www.sciencedirect.com/science/article/pii/S1674987123001603Load capacity factorEconomic growthRenewable energyFourier approximationEmvironmental quality |
| spellingShingle | Ugur Korkut Pata Qiang Wang Mustafa Tevfik Kartal Arshian Sharif The role of disaggregated renewable energy consumption on income and load capacity factor: A novel inclusive sustainable growth approach Geoscience Frontiers Load capacity factor Economic growth Renewable energy Fourier approximation Emvironmental quality |
| title | The role of disaggregated renewable energy consumption on income and load capacity factor: A novel inclusive sustainable growth approach |
| title_full | The role of disaggregated renewable energy consumption on income and load capacity factor: A novel inclusive sustainable growth approach |
| title_fullStr | The role of disaggregated renewable energy consumption on income and load capacity factor: A novel inclusive sustainable growth approach |
| title_full_unstemmed | The role of disaggregated renewable energy consumption on income and load capacity factor: A novel inclusive sustainable growth approach |
| title_short | The role of disaggregated renewable energy consumption on income and load capacity factor: A novel inclusive sustainable growth approach |
| title_sort | role of disaggregated renewable energy consumption on income and load capacity factor a novel inclusive sustainable growth approach |
| topic | Load capacity factor Economic growth Renewable energy Fourier approximation Emvironmental quality |
| url | http://www.sciencedirect.com/science/article/pii/S1674987123001603 |
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