Revisiting the impact of renewable energy consumption on economic growth: sectoral evidence from the USA
The aim of this study is to investigate the relationship between sectoral renewable energy consumption and economic growth in the US economy for the period 1950–2020 by using the Fourier component augmented unit root, cointegration, and causality analyses for the transportation, industrial, resident...
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| Veröffentlicht in: | Environmental science and pollution research international 2023-03, Vol.30 (15), p.44733-44745 |
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| creator | Tugcu, Can Tansel Menegaki, Angeliki N. |
| description | The aim of this study is to investigate the relationship between sectoral renewable energy consumption and economic growth in the US economy for the period 1950–2020 by using the Fourier component augmented unit root, cointegration, and causality analyses for the transportation, industrial, residential, electric power, and commercial sectors. Our results reveal in the long run that renewable energy will Granger cause growth through the new jobs it will create, the restructuring of the economy which is a prerequisite for replacing fossil energy with renewable energy. On the other hand, causal relationships are less stable and methodology and sector specific in the short run. Accordingly, the electric power and industrial sectors experience conservation patterns in terms of renewable energy consumption, while the growth hypothesis is confirmed for the commercial sector. Different implications are generated for each sector, which are now more important than ever given the current energy crisis in Europe and the urgent need to reduce dependence on fossil fuels. |
| doi_str_mv | 10.1007/s11356-023-25466-y |
| format | Article |
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| ispartof | Environmental science and pollution research international, 2023-03, Vol.30 (15), p.44733-44745 |
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| subjects | Aquatic Pollution Atmospheric Protection/Air Quality Control/Air Pollution Carbon Dioxide - analysis Causality Earth and Environmental Science Economic Development Economic growth Economics Ecotoxicology Electric power energy Energy conservation Energy consumption Environment Environmental Chemistry Environmental Health Environmental science Europe Fossil Fuels Impact analysis Renewable Energy renewable energy sources Renewable resources Research Article transportation Waste Water Technology Water Management Water Pollution Control |
| title | Revisiting the impact of renewable energy consumption on economic growth: sectoral evidence from the USA |
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