| Title | Nexus between energy efficiency finance and renewable energy development: Empirical evidence from G-7 economies |
|---|---|
| ID_Doc | 68753 |
| Authors | Fan, QY; Hajiyeva, AM |
| Title | Nexus between energy efficiency finance and renewable energy development: Empirical evidence from G-7 economies |
| Year | 2022 |
| Published | |
| Abstract | Renewable energy (RE) and energy efficiency (EE) have become hot topics among academic and business players in recent history in relation to the question of sustainable growth. Considering this backdrop, this research evaluates the EE of RE and the influence of RE on energy potential risk from both static and dynamic viewpoints in G-7 nations from 2005 to 2019. To quantify EE, a GVAR is utilized. Our results show no substantial impact on energy security risk from wind, hydropower, or total RE sources based on the Augmented Mean Group (AMG) projections for G-7 nations. Fuel and hydropower have a unidirectional causality to energy security risk, while manufacturing output, fuel consumption, financial interdependence, and urbanization have bidirectional causalities on energy security risk as per the Dumitrescu-Hurlin panel causality test results. The findings show that G-7 countries have varying levels of EE. The average EE of G-7 countries is large (with most member countries falling short of the average), coupled with a large standard deviation (suggesting wide EE disparities among member countries). Dynamic productivity is also affected by the 2007 global economic crisis that was sparked in the US. Besides that, we show that the G-7 nations use both "catch-up" and "border shift" tactics to boost EE and to reduce G-7-specific energy security risks. |
Similar Articles
| ID | Score | Article |
|---|---|---|
19792
|
Majeed, A; Ahmad, M; Rasheed, MF; Khan, MK; Popp, J; Olah, J The Dynamic Impact of Financial Globalization, Environmental Innovations and Energy Productivity on Renewable Energy Consumption: Evidence From Advanced Panel Techniques(2022) | |
| 32054
|
Wang, R; Usman, M; Radulescu, M; Cifuentes-Faura, J; Balsalobre-Lorente, D Achieving ecological sustainability through technological innovations, financial development, foreign direct investment, and energy consumption in developing European countries(2023) | |
| 63950
|
Chakraborty, SK; Mazzanti, M Renewable electricity and economic growth relationship in the long run: Panel data econometric evidence from the OECD(2021) | |
| 32531
|
Lian, M The impact of cleaner energy sources, advanced technology firms, and economic expansion on ecological footprints is critical in sustainable development(2024)Heliyon, 10, 11 | |
| 33242
|
Murshed, M Testing the non-linear environmental effects of ongoing renewable energy transition in underdeveloped nations: The significance of technological innovation, governance, and financial globalization(2024) | |
| 31413
|
Wu, H; Fareed, Z; Wolanin, E; Rozkrut, D; Hajduk-Stelmachowicz, M Role of Green Financing and Eco-Innovation for Energy Efficiency in Developed Countries: Contextual Evidence for Pre- and Post-COVID-19 Era(2022) | |
| 69575
|
Makki, M; Kaspard, J; Khalil, F; Mawad, JL Renewable Energy Consumption Determinants: Do They Differ between Oil-Exporting Countries and Oil-Importing Ones?(2024)Sustainability, 16.0, 17 | |
| 35701
|
Cao, LL How green finance reduces CO2 emissions for green economic recovery: empirical evidence from E7 economies(2023)Environmental Science And Pollution Research, 30, 2 | |
| 30225
|
Lee, CC; Wang, CS; He, ZW; Xing, WW; Wang, KY How does green finance affect energy efficiency? The role of green technology innovation and energy structure(2023) | |
| 31170
|
Peng, G; Meng, FC; Ahmed, Z; Olah, J; Harsanyi, E A Path Towards Green Revolution: How do Environmental Technologies, Political Risk, and Environmental Taxes Influence Green Energy Consumption?(2022) |