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Examining the drivers of renewable energy consumption: Evidence from BRICS nations

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  • Sachan, Anshita
  • Sahu, Udit Kumar
  • Pradhan, Ashis Kumar
  • Thomas, Ronny

Abstract

Against the backdrop of rising environmental concerns and an increase in awareness for renewable energy, the current paper explores the factors influencing renewable energy consumption by drawing a sample for BRICS nations from the period 1990 through 2015. To do so, we use dynamic common correlated effects, panel quantile regression methods and other robustness checks and find that environmental policy stringency index and human development index have significant and positive impact on renewable energy consumption. Other variables including carbon dioxide emission and gross fixed capital formation show statistically significant and negative link with renewable energy use. Our results emphasize upon stringency in existing environment policies and promoting renewable energy consumption.

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  • Sachan, Anshita & Sahu, Udit Kumar & Pradhan, Ashis Kumar & Thomas, Ronny, 2023. "Examining the drivers of renewable energy consumption: Evidence from BRICS nations," Renewable Energy, Elsevier, vol. 202(C), pages 1402-1411.
    • Handle: RePEc:eee:renene:v:202:y:2023:i:c:p:1402-1411
    DOI: 10.1016/j.renene.2022.11.080
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    3. Shinwari, Riazullah & Wang, Yangjie & Gozgor, Giray & Mousavi, Mahdi, 2024. "Does FDI affect energy consumption in the belt and road initiative economies? The role of green technologies," Energy Economics, Elsevier, vol. 132(C).
    4. Ali Uyar & Ali Meftah Gerged & Cemil Kuzey & Abdullah S. Karaman, 2024. "Renewable energy use, slack financial resources, and board attributes: Does energy efficiency policy matter?," Business Strategy and the Environment, Wiley Blackwell, vol. 33(5), pages 4935-4957, July.
    5. Iulia Lupu & Gheorghe Hurduzeu & Radu Lupu & Maria-Floriana Popescu & Camelia Gavrilescu, 2023. "Drivers for Renewable Energy Consumption in European Union Countries. A Panel Data Insight," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 25(63), pages 380-380, April.
    6. Saadaoui, Haifa & Omri, Emna & Chtourou, Nouri, 2024. "The transition to renewable energies in Tunisia: The asymmetric impacts of technological innovation, government stability, and democracy," Energy, Elsevier, vol. 293(C).
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    More about this item

    Keywords

    Renewable energy consumption; BRICS; EPSI; HDI; GCFC;
    All these keywords.

    JEL classification:

    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources

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