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Role of Solar Energy in Reducing Ecological Footprints: An Empirical Analysis
Abstract
The modern economic growth paradigm significantly relies on natural endowments. Solar energy as a perpetual source has the potential in reducing the ecological footprint, which has been overlooked in the empirical literature. We assess the dynamic impact of solar energy consumption on ecological footprints by applying quantile on quantile (QQ) regression in the context of the top ten solar energy-consuming countries. Our empirical analysis demonstrates that solar energy use mitigates ecological footprints at various quantiles for all sample countries except India and the United Kingdom. Overall relation is more profound at higher quantiles of solar energy and lower quantiles of ecological footprint. The bidirectional quantile Granger-causality analysis confirms a somewhat feedback effect of the ecological footprint on solar energy. Our empirical evidence emphasizes that solar energy should be integrated into the sustainable growth agenda.
... Apart from this, previous investigations report conflicting findings regarding the environmental benefits of SOE, for example, the empirical estimation by Destek and Aslan (2020) illustrated that SOE does not pose significant impacts on CO 2 in the group of seven (G-7). Conversely, the investigation by Sharif et al. (2021) proved that SOE curbs ecological footprint (EF) when EF levels are relatively low. Thus, determining how solar energy impacts GHGE at different emission levels is a critical question for accelerating the energy transition. ...
... In addition, governance lessens CO 2 while GDP increases emissions. In another empirical study, Sharif et al. (2021) found that SOA reduces the EF more at lower levels of EF in the highest SOA consumers. In the same panel, Yu et al. (2022) revealed a positive connection between SOA and CO 2 reduction except for France. ...
... In this context, SOE is gaining popularity due to its abundance and low carbon footprint; however, the high initial investment costs raise concerns about its economic viability (Ren et al. 2020). Additionally, the production of solar photovoltaic systems can generate hazardous waste, toxins, and emissions, partially offsetting its environmental benefits (Sharif et al. 2021). ...
... Other past studies attempted to examine the impact of green growth coupled with green energy on environmental threats, incorporated renewable energy consumption and economic growth as representative of green growth policy. Their results revealed that renewable energy consumption minimizes CO 2 emissions, while economic growth exhibits inverted U-shape relationships with CO 2 in country-specific and panel of countries (Duarte et al., 2022;Kuşkaya, 2022;Rehman et al., 2022;Sharif et al., 2021;Yu et al., 2022;Zhang et al., 2020). Very few studies examined the impact of technological innovation on economic growth across four global regions (Asia, Europe, America, and Oceania), results indicated the positive contribution to economic growth Mensah et al. (2019). ...
... The implications of green growth coupled with green energy technology towards environmental quality were seen in developed and developing countries across the regional levels and country-specific due to innovations and renewable energy-related technologies (Dudin et al., 2016). Renewable energy consumption have suggested as green energy which is both promotes economic growth and emissions reduction (Duarte et al., 2022;Kuşkaya, 2022;Rehman et al., 2022;Sharif et al., 2021;Yu et al., 2022;Zhang et al., 2020). In another study conducted on clean environmental regulations on load capacity factor to achieve sustainability, results revealed that renewable energy and human capital reasonably increase environmental quality in APEC countries (Caglar et al., 2023b). ...
This study examined the effect of green growth on environmental sustainability across 62 countries classified into regions and on a global scale. Domestic material consumption and renewable energy use were used as green growth indicators to examine their effect on CO2 emission, which is the environmental degradation proxy. The recent panel estimators (cross-sectional augmented distributed lags, and common corrected effect mean group), difference-in-differences, and causalities were employed from 1980 to 2020. The findings revealed that green energy and domestic material consumption contribute to CO2 depletion regionally and globally. The results also indicated that with the use of a green growth policy, there is a slight improvement in reducing CO2 towards environmental sustainability across regions. Moreover, a two-way directional causal relationship between CO2 and domestic material consumption and green energy was noted globally, and in some regions, while one-way directional and neutral causations have been supported in regions. This study, therefore, suggested the potential policy implications for global, regional, and country-specific environmental sustainability to achieve desired climate action effectively.
... Several recent research projects have investigated what causes ecological footprints to grow or shrink. Urbanization, renewable energy, resource extraction, and technical progress are some of the aforementioned variables [29][30][31][32][33]. ...
... Looking at the issue from a supply-side angle, Gani [47] determined that the production of electricity from fossil fuels worsens environmental problems. Based on their analysis of the top 10 solar energy-consuming countries, Sharif, Meo, Chowdhury, and Sohag [29] found that solar power is an excellent approach to reducing our ecological footprint. They utilized quantile-on-quantile regression to look at how solar energy consumption changes over time. ...
The escalating energy consumption seen in the BRICS countries, namely Brazil, Russia, India, China, and South Africa, presents a substantial environmental problem, resulting in the depletion of resources, amplified carbon emissions, and endangering the well-being of ecological systems. The study examines the potential of green innovation to alleviate these adverse effects. By combining green technology with strong institutions and responsible energy consumption, we argue that the BRICS nations can significantly reduce their ecological footprint. This research, encompassing data from 1995 to 2022, employs Driscoll-Kraay and panel quantile regression to analyze the complex interplay of institutional quality, energy consumption, green innovation, and ecological footprints across the BRICS countries. Our findings reveal that green innovation is crucial in mitigating the ecological footprint, particularly when combined with resilient institutional quality and controlled energy use. Conversely, factors like high energy consumption, natural resource rent, and urbanization contribute to an increased ecological footprint. Notably, the study emphasizes the critical role of both institutional quality and renewable energy consumption in effectively reducing the ecological burden within the BRICS nations. These findings suggest that prioritizing investments in green technology and institutional development, even amidst high energy demands, represents a viable strategy for the BRICS nations to achieve sustainable growth and environmental responsibility.
... Their findings suggest that renewable energy has a substantial impact in reducing the ecological footprint. Sharif et al. (2021) did a study that examined the top ten economies with the greatest use of solar energy from 1990 to 2018. By employing a nonparametric quantile on quantile regression method, they discovered a significant and positive influence of solar energy on the state of the ecosystem. ...
... By harnessing renewable and clean solar energy, greenhouse gas emissions, air pollution, and environmental degradation are minimized, leading to a smaller ecological footprint. This conclusion finds support in numerous studies, including those undertaken by and Sharif et al. (2021). Digitalization consistently has a negative impact on the ecological footprint across all quantiles and periods (Fig. 4b), highlighting (a) QQR between SEINO and ECOFP (b) its crucial role in promoting environmental quality in the USA. ...
The escalating apprehension regarding climate change mitigation has intensified the quest for energy alternatives that are low in carbon emissions, economically viable, and consistently available. Within this context, renewable energy sources emerge as fitting candidates, being recognized for their eco-friendliness and cleanliness. Nonetheless, despite the allure of transitioning towards cleaner energy, there exists a notable dearth of literature addressing the pivotal role of solar energy innovations and economic globalization in advancing the agenda of climate change mitigation (SDG-13), thus complicating the prediction of factors influencing ecological quality. Consequently, this study undertakes the inaugural investigation into the impact of solar energy innovation on ecological footprint, while also considering the influences of digitalization, economic globalization, renewable energy, and natural resources in the USA. To this end, Quantile-on-Quantile Kernel-Based Regularized Least Squares (QQKRLS) and wavelet quantile regressions (WQR) methodologies are employed, utilizing data spanning from 2000 to 2020. The analysis reveals that solar energy innovation, along with renewable energy, digitalization, and economic globalization, exerts a negative impact on ecological footprint, whereas natural resources exhibit a positive influence. Drawing from these insights, it becomes apparent that a concerted effort from stakeholders and policymakers is imperative in realizing the objectives of SDG-13 and SDG-7, necessitating a paradigm shifts in the USA’s energy portfolio away from fossil fuels towards renewables.
Graphical abstract
... According to a forecast by the US Energy Information Administration, global energy consumption is expected to increase by almost half compared to 2020 if current technology trends and policies persist (EIA, 2021). Rapid population growth, economic expansion, and rising living standards are projected to elevate global energy demand by 1.5 to 3 times by 2050 (Sharif et al., 2021). ...
This study investigates the dynamic relationship between energy consumption, economic growth, and labor force in G7 countries from 1970 to 2019, with a particular focus on the transition to a knowledge-based economy. Using advanced panel data analysis techniques, including Bai and Perron’s (Econometrica, 47–78 1998, Journal of Applied Econometrics 18 1 1 22 2003) structural breaks test and various panel unit root and cointegration tests, the study addresses model specification errors and time-varying coefficients to capture the complex, evolving interactions between these variables. The findings emphasize the critical role of incorporating structural breaks in panel data to ensure model consistency and avoid bias. The analysis reveals three distinct regimes, each characterized by changing effects of energy consumption and labor force on economic growth. Between 1970 and 1981, economic growth was significantly driven by energy consumption, while the labor force had an insignificant impact. From 1982 to 1992, the interaction between energy consumption and labor force strengthened, driven by technological advancements that enhanced productivity and facilitated knowledge diffusion. However, post-1992, the impact of energy consumption on economic growth diminished, signaling the pivotal role of a skilled labor force and human capital in the era of advanced technology and knowledge-intensive industries. This regime shift reflects the increasing importance of knowledge creation, diffusion, and application in driving sustainable economic growth, aligning with the core themes of the knowledge-based economy. Generally, we found the answer to an interesting question in this study by modeling regime change of the relationship between energy consumption, labor force, and economic growth: When did the labor force replace energy?
... Although the current state of global energy production is far from being 100% renewable-based, 103 this reasoning would still hold true, as renewable energy sources also have negative environmental impacts, albeit much smaller than fossil fuels. 103,104 Distinguishing between different types of environmental impact in this type of study may be useful in certain contexts. 100 However, in this case, we opted for using an aggregate measure to allow for an interpretation independent of the metric utilized. ...
Background The rapid adoption of short-form video content has significantly transformed online content consumption patterns. This study investigates measures to mitigate the dual social and environmental impacts of short-form video platforms, addressing a critical gap in current literature where these dimensions have typically been studied in isolation. Methods Utilizing a dynamic data-driven simulation model, which is openly available for further research, and taking TikTok™ as a representative case study, we evaluate mitigation strategies across financial, content-based, and design interventions. Results Results indicate that while financial measures effectively reduce impacts, they could significantly affect platform revenue. Content-focused strategies and non-punitive design modifications show promise in promoting behavioural change and reducing addictive behaviours. A balanced combination of these approaches yields optimal outcomes, highlighting the necessity of a realistic and multi-pronged strategy for sustainable short-form video platforms. Conclusions This research provides valuable insights and tools for policymakers, platform designers, and companies, focused on creating a more sustainable short-form video industry. This work serves as a call to action, emphasizing the need for further sustainable advances in regulation and business models in the short-form video industry.
... Projections indicate that by 2050, global energy demand will experience an unprecedented increase of 1.5 to 3 times due to rapid population growth, accelerated economic development, and improvements in living standards [1]. The rising consumption of fossil fuels, as the conventional solution for addressing the energy needs driven by urbanization and industrialization, has become one of the most significant global challenges [2]. ...
This study provides a comprehensive technical, economic, and environmental analysis for the implementation of a 10 MW solar power plant in Semnan Industrial Park. With increasing global energy demand, the transition from fossil fuels to renewable energy sources is essential to mitigate environmental impacts and reduce greenhouse gas emissions. This research highlights innovative developments in photovoltaic systems and energy storage solutions, demonstrating their potential for increased efficiency and reliability. From an economic perspective, the analysis shows that solar energy can achieve competitive energy production costs estimated at around $0.05/kWh, especially in semi-arid and solar resource-rich regions. Furthermore, the study emphasizes the importance of supportive government policies and incentives to facilitate investment in solar technologies. The results show that adopting solar energy solutions not only addresses environmental concerns but also offers significant economic benefits, including a 7-10 year payback period for the proposed power plant. Overall, this research highlights the vital role of solar energy in fostering sustainable industrial development while contributing to climate change mitigation efforts.
... Since it accounts for CO2 as well as mining, tree felling and all the various uses of land, researchers believe that EF is the ideal proxy when taking account of CO2 emissions. As a result, the EF can provide more accurate and useful results when used as a stand-in for pollution levels in the environment (Alola et al, 2019;Sharif et al, 2021). Hence, this study makes use of EF as a proxy for environmental degradation for SSA. ...
This study employed the system generalised method of moment technique to examine the role of institutions in the Foreign Direct Investment-ecological footprint linkage for 40 Sub-Saharan African countries between 2004 and 2018. Some stylised facts about the level of exposure of Sub-Saharan African countries to environmental degradation and the rise in Foreign Direct Investment inflow into this part of the continent were provided. Empirical results showed that institutions in this area are weak and contribute to environmental degradation. Even though we found Foreign Direct Investment to improve the environmental quality, institutions create a negative link between Foreign Direct Investment and ecological footprint. This resulted in Foreign Direct Investment exerting an adverse effect on the environment. Likewise, findings showed that while economic growth contributes to the reduction of ecological footprint at low levels of growth, it increases ecological footprint at higher levels of growth. The study reasserts the vital role of institutions in achieving a sustainable environment and suggests policy recommendations for strengthening institutions.
... As a result, quick responses and solutions are required to stop climate change and global warming and minimize air pollution. The use of renewable energy sources, such as biomass [14], wind, geothermal, and solar energy, in place of fossil fuels [15], which are projected to account for 80% of the world's primary energy consumption and 75% of greenhouse gas emissions, is one of the alternatives [16]. The majority of studies agree that using renewable energy helps to reduce CO 2 emissions and reduces environmental damage [17]. ...
... The utilization of alternative and clean energy sources will reduce the environmental impact in the United States, thereby contributing to the protection of the ecosystem. The discovery aligns with prior research [81,82,[91][92][93][94][95][96][97][98][99][100]. Pollution-free energy and minimal ecological effects are two defining characteristics of clean and sustainable power supplies. ...
Over the recent decades, there has been a lively debate over the relationship between natural assets and the ecosystem level that surrounds them. It is a well-known fact that numerous prosperous countries that are endowed with mineral assets have experienced favorable advancements in both innovations and the economy. In spite of this, the most significant problems are the ways in which sustainable power, natural resources, and technical developments in regions with plentiful ecological assets, such as the United States of America, influence the quality of the environment. This research explores the dynamic consequences of natural resources rent, technological innovation, renewable energy, and economic expansion on the ecological footprint (EF) in the United States of America from 1980 to 2021. The time period covered by this study is from 1980 to 2021. According to the results obtained through the use of the technique known as Autoregressive Distributed Lag (ARDL), the quality of the environment is improved by renewable energy sources, whereas the ecological condition is deteriorated by natural resource rents. Additionally, the findings revealed that there is a significantly favorable association between technological advancements and natural health. The findings have significant legal repercussions for legislators with reference to natural resources and technological development in the direction of biodiversity quality enrichment. These are vital progressions in sustainable development.
... Solar energy is renewable energy that is more environmentally friendly than fossil fuels, as shown by the carbon emission rate from solar panels or photovoltaic (PV). Among various technologies of solar energy conversion, PV has the most maturity [1,2,3,4]. Currently, the increasing need for energy by utilizing PV technology creates the need for large areas of land. Land-based PV technology has the potential to increase land competition in the food production and energy generation sectors. ...
Agrivoltaic systems with conventional PV panels may cause a shading effect to the plants, particularly in the tropical region where the sun position around noon is always near the zenith. Agrivoltaic systems that can ensure sufficient and even lighting, such as the semi-transparent PV (STPV) module, are thus promising. However, simulation and optimisation studies in application of such system in the tropics are still rarely found in literature. This study therefore aims to predict and optimise the annual performance of an agrivoltaic system with STPV module, for the case of a tropical location. Modelling and simulation were conducted in Rhinoceros, considering various module heights, tilt angles, and orientations, to predict the photosynthetic photon flux density (PPFD). To determine the optimum PV module configuration, weighting factors were given to the annual average illuminance, uniformity, illuminance reduction due to shading, and energy yield. Monte Carlo simulation was run by assigning random numbers to each weighting factor. The design configuration that occurs optimum the most often was deemed the global optimum solution. Experiments were also carried out with bok choy (Brassica rapa) plants to observe the impact on the plant growth. Based on simulation, the optimum performance is achieved by the STPV module at 3 m high, 20° tilt angle, facing north. Based on experiments, the plant growths under the STPV and under no PV modules are not significantly different. Overall, this study provides a foundation for large-scale application and optimisation of agrivoltaic systems with STPV configuration.
... Focusing on economic aspects, Ekechukwu et al. and Braga et al. [16,17] analyzed the cost-effectiveness of renewable energy integration in offshore oilfields. Additionally, Zhang et al. and Sharif et al. [18,19] explored the environmental benefits, emphasizing the reduction of ecological footprints. Furthermore, the global energy landscape transforms significantly as energy demand increases, driven by rapid population growth, industrial development, and technological advancements [20]. ...
The transition towards sustainable offshore oil and gas operations is increasingly important given the declining conventional energy reserves and growing environmental concerns. This research developed a concept design to enhance sustainability in offshore operations by integrating local solar and wind energy sources. The proposed hybrid system combines solar energy systems and wind turbines with traditional Thermoelectric Generators (TEGs), which have traditionally relied on natural gas. The study found that incorporating these renewable energy sources into the system significantly reduces carbon emissions, lowers dependency on fossil fuels, and improves overall operational efficiency. The main conclusion of this research is that integrating local renewable energy sources into offshore operations mitigates environmental impact, offers long-term cost savings, and enhances energy security. This framework provides practical solutions for the energy sector's transition towards greener, more resilient offshore operations.
... The ecological footprint approach is extensively implemented for assessing natural resource consumption and a region's capacity to sustainably maintain this level of usage and to achieve sustainable development (Sun et al., 2023;Ullah et al., 2021;Yang & Meng, 2019). It is considered to be a relatively more comprehensive measure of environmental quality as compared to carbon dioxide emissions (Alola et al., 2019a;Chishti, 2023;Sharif et al., 2021). Butchart et al. (2010) also endorse the use of the ecological footprint as a meaningful metric to describe global biodiversity. ...
The present study examines the evolution of ecological footprint research using bibliometric analysis methods such as performance analyses, science mapping, and bibliographic coupling with the help of VOSviewer and R studio software tools. These methodical approaches help us unveil prominent authors, journals and countries, most cited studies, and key thematic clusters within this domain, which shape the discourse and emphasize the essential role of analytical tools in comprehending environmental impacts. Out of seven thematic clusters identified by bibliographic coupling, sustainability stands out as the most prominent, which indicates the growing interest of researchers in studies related to SDGs, local sustainability strategies, and environmental sustainability. Renewable energy adoption, sustainable and ecotourism framework, and convergence analysis are among other prominent themes, which collectively highlight the critical role of community and stakeholder engagement to develop effective sustainability strategies to achieve ecological balance and human well-being. The cluster related to innovation efficiency emerges as an underdeveloped domain, urging further scholarly attention for future research by incorporating regional economic characteristics and innovation dynamics into ecological footprint research to develop innovative strategies. Overall, current scholarly inquiry provides an overview of ecological footprint research and its temporal evolution, along with guidance for future investigations.
... In a similar line, effects of environmental degradation are also investigated previously. Now, researchers are working to devise methods to lessen the effects of environmental deterioration on the ecosystem [2][3][4]. In this sense, this problem has become critical for the coming generation. ...
Industrialization, financial activities, and intensive human activities have reduced continuous habitats to smaller patches, threatening the safety of the ecosystem. However, as technological innovation and digitization increase, this negative impact will be somewhat neutralized. To address this issue, the current study examined the role of economic, socioeconomic, and green indicators on the ecological footprint in the Gulf Cooperation Council (GCC). By using data from 1990–2019, we have applied multiple panel tests to determine the long-run and short-run relationships among the variables. The findings show that economic growth increases the long-term ecological footprint in the GCC. The human development index and financial inclusion coefficients are also positively and significantly linked with the ecological footprint. The socioeconomic index, however, reveals a negative relationship between ecological footprint and GCC. Similarly, digitalization and environmental technologies have a negative and major impact on the ecological footprint. It indicates that green growth factors contribute to long-term improvements in environmental quality. So, GCC nations should emphasize investing in green growth factors and enact strict environmental regulations to safeguard their country from environmental problems.
... Solar energy has become one of the most promising alternatives in the fight against climate change and high energy demand. Particularly, photovoltaic technology has had accelerated growth due to its low environmental impact and the recent reduction in technology costs [1]. In recent years, research groups have focused on increasing low conversion efficiency through the development of new materials [2][3][4], multi-junction configurations in solar cells [5,6], development of concentrating solar technology [7], and control strategies for generation capacity improvement [8,9], among others. ...
Solar tracking systems allow an increase in the use of solar energy for its conversion with photovoltaic technology due to the alignment with the sun. However, there is a compromise between tracking accuracy and the energy required to perform the movement action. Consequently, the wear of the tracker components increases, reducing its useful lifetime and affecting the profitability of these systems. The present research develops a novel tracking strategy based on real-time measurements to increase the lifetime without reducing the energy productivity of the tracking systems. The proposed approach is verified experimentally by implementing the real-time decision-making algorithm and a conventional tracking algorithm in identical tracking systems under the same weather conditions. The proposed strategy reduces energy consumption by 14.18% due to the tracking action, maintaining a practically identical energy generation between both systems. The findings highlight a 53.33% reduction in the movements required for tracking and a 60.77% reduction in operation time, which translates into a 6.8-fold increase in the lifetime of the solar tracking system under the experimental conditions applied. The results are promising, so this research initiates and motivates the development of more complex models to increase the useful life of the tracking systems and their profitability and environmental impact concurrently.
... Using the quantile-on-quantile method, Sharif et al. [37] investigated the dynamic link between solar energy consumption and ecological footprint for the top 10 nations with the highest solar energy consumption from 1990 to 2017. Their findings revealed that solar energy consumption leads to the lowering of the ecological footprint. ...
This study examines Finland's increasing investment in solar energy as part of its broader strategy to transition to renewable energy sources. Despite its northern location and limited sunlight during winter months, Finland has effectively harnessed solar power, especially during its long summer days. We conducted a PESTLE analysis, highlighting political commitment to climate agreements, economic benefits of solar energy, public support for clean energy, technological advancements , regulatory support, and environmental benefits. In addition, we applied the autoregressive distributed lag model (ARDL) to study the impact of GDP per capita, urbanization (URB), foreign direct investments (FDI), and the share of primary energy consumption from solar (SOL) on CO 2 emissions for Finland during 1990-2022. The long-term findings show that SOL, URB, and FDI negatively impact CO 2 emissions, while GDP positively impacts CO 2 emissions. Solar energy deployment reflects the effectiveness of solar energy as a cleaner alternative to fossil fuels. Urbanization also shows a negative impact on CO 2 emissions due to better infrastructure and more efficient energy use in urban areas. FDI suggests that investments are oriented towards sustainable technologies. Industrial activity associated with economic expansion may indicate the positive effect of GDP in CO 2 emissions. Although economic growth has typically resulted in increased emissions, strategic investments in renewable energy and sustainable urban development can greatly reduce this effect. Policy initiatives in Finland should concentrate on promoting green investments and enhancing urban planning with a focus on environmental sustainability.
... Although the use of fossil fuels is considered economical, it has many harmful effects on the environment [4]. However, the generation of large amounts of greenhouse gases has a negative impact on the carbon footprint [5]. It is predicted that the world population will double in the next 25 years [6] [7]. ...
The rapid increase in energy demand and the disadvantages of using fossil fuels in electricity production have led to a greater emphasis on renewable energy sources. Consequently, research on the use of renewable resources has gained importance. Numerous factors influence the energy production of power plants that generate electricity from these sources. Power plants utilizing solar energy, one of the renewable energy sources, are significantly affected by environmental factors and meteorological variables, impacting the continuity of electrical energy production in solar power plants (SPPs). For these reasons, this study developed prediction models using two different methods based on machine learning and artificial intelligence to analyze and predict changes in the electrical energy production of SPPs due to environmental factors and meteorological changes. The data used in the study are real data collected from a 180 kWe solar power plant currently in operation. Data collection started from the day the power plant was commissioned. Using real data, the effects of pollution and environmental impacts on PV panels’ energy production are demonstrated. To mitigate these effects and examine the impact of adverse conditions on production efficiency, two different analysis methods were used: Random Forest Regression (RFR) Model and Artificial Neural Networks (ANN). This allowed for a comparison of the results between the models. Long Short-Term Memory (LSTM) networks, a type of artificial neural network, were utilized. A prediction model was created for the decrease in energy production of the power plant due to pollution and environmental impacts using Random Forest (RF) regression analysis, which analyzes energy production based on non-linear independent input variables and creates a prediction model. The model estimated SPP’s electrical energy production based on environmental impact measurements and pollution. A graph comparing estimated energy production amounts with actual values is shown. In another analysis phase, neural networks were trained with data from the SPP and measurement station using Long Short-Term Memory (LSTM) networks. The energy production of the power plant was estimated with the trained LSTM neural networks, and the results are shown graphically. A very large data set was used in the two different prediction models. The training data set includes hourly sunshine duration, accumulated irradiation (Wh/m²), hourly maximum temperature, hourly minimum temperature, humidity (%), hourly temperature, hourly total precipitation (kg/m²), and daily and hourly data since the power plant began operation. It consists of data on wind speed (m/s), pollution, and energy production values of the power plant. This means a total of 119,808 data points were processed in the prediction model, highlighting the detail of the analysis. The results were evaluated using four different performance measures: correlation coefficient (R), fractional gross error (FGE), mean standard error (MBE), and root mean square error (RMSE). The RF results showed a correlation coefficient of 0.8111 with the predictions. In contrast, the LSTM network predictions had an R value of 0.9759. Comparing RFR and LSTM, it is evident that LSTM provides much better results in models created with the entire data set.
... On the other hand, concerns about climate change, energy scarcity, and environmental sustainability cause the importance of renewable energy [3], [4]. Fuels used for motor vehicles are currently still dominated by fossil fuels. ...
This research aims to analyze nickel sales forecasting using time series forecasting with the help of Microsoft Excel and then compare the pattern between Nickel Mining Companies listed on IDX (Indonesia Stock Exchange). This research uses a quantitative descriptive study with a forecasting method. The data used is secondary data, which is sales data contained in the financial statements of nickel mining companies listed on the IDX (Indonesia Stock Exchange) from 2015-2023. There are a total of 43 data. The results of this study show that the highest sales forecast from PT Aneka Tambang Tbk's nickel sales is in quarter 4 of 2024 of IDR 16,4 trillion, and the lowest forecast is in quarter 1 of 2024 of IDR 3,4 trillion. On the other hand, the highest nickel sales forecast from PT Vale Indonesia Tbk is in the 4th quarter of 2024 of IDR 19,3 trillion, and the lowest forecast is in the 1st quarter of 2024 of IDR 4,3 trillion. The patterns formed on the forecasting plot graphs of the two companies tend to be the same. The sales trend and forecasting trend are also the same, there is an increase and show good business prospects and nickel sales.
... There are α and p explanatory variables, β is a matrix of size z + n × 1 of explanatory variables with β 0 constants, α and ε are matrices of n × 1 residuals [61,62]. The computerization for analysis in terms of logarithmic regression observed the existence of a trend of a greater deviation of pairs of stations for other types of regression models [63]. ...
Solar energy reaching a horizontal surface can possess fluctuations that impact electricity generation at a solar plant. Despite this, energy access remains inadequate, particularly in rural areas, with an estimated 82% deficiency. This drives us to assess the regressive and spatial-temporal accessibility of solar energy in the southern and mid regions of Mozambique. This evaluation aims to determine the actual availability of energy for electrification purposes. Data on global horizontal irradiation from approximately 8 stations across all provinces in the specified regions, collected between 2012 and 2014 at intervals of 1 and 10 min, were analyzed using regression and correlation methods along with a specialized algorithm for classifying days based on clear sky index terms. The statistical analysis identified days with significant potential for energy accessibility, exceeding 50% of the average. The findings suggest a correlation coefficient of approximately 0.30 for energy and non-linear regression with clear sky index coefficients around 0.80. The method employed demonstrated accuracy when compared to theoretical simulations of the clear sky index in the region, indicating its potential applicability in other regions of interest.
... This trend, pushed quite fundamentally by intensified awareness of the damaging nature attached to conventional fossil fuels and a united call for arms for quick measures against global warming, has prodded both governmental bodies and private sector participants in equal measure toward funneling resources into renewables like solar, wind, and biomass initiatives. All these efforts are directed toward the minimization of carbon footprints and espousing the cause of ecological preservation (Sharif et al. 2021). While further improvements in technologies make renewable ventures more profitable, such legislation, including financial incentives in the form of grants and tax reductions to renewables, further enhances the movement toward renewables. ...
Germany, as one of the largest carbon emitters in the world, faces a crucial challenge in meeting SDG 7, which underscores the importance of affordable and clean energy. To achieve sustainability and combat climate change, it is imperative for Germany to devise innovative policies aimed at enhancing the accessibility and cleanliness of energy sources. Therefore, this study examines how climate preference, environmental policy stringency, and energy policy uncertainty affect renewable energy investments. We used a unique bootstrap rolling window causality technique to examine sectoral quarterly data from 2004 to 2021. The results from the parameter instability tests indicate that none of the estimated models exhibit constant parameters. The bootstrap rolling window causality analysis reveals that climate preference and environmental policy stringency significantly and positively impact biomass and solar energy investments, while having no influence on wind energy investments. Meanwhile, energy policy uncertainty negatively affects biomass and solar energy investments, with no impact on wind energy investments. The study provides policymakers with practical insights to help them make insightful decisions and accomplish strategic actions to encourage renewable energy investments and a sustainable future.
Graphical abstract
... Substituting coal, oil, and gas with these environmentally friendly alternatives results in the effective elimination of pollutant emissions at their source (Sharif et al., 2021). Notably, Saidi and Omri (2020) discovered a substantial reduction in CO ₂ emissions in the 15 counties characterized by high usage of renewable energy. ...
In 2023, global temperatures witnessed an alarming escalation, reaching an unprecedented 1.46 C above preindustrial levels, marking it as the hottest year on record. Simultaneously, atmospheric carbon dioxide surpassed 420 ppm, exceeding a stability maintained for over 6000 years by more than double. This troubling surge in CO2 intensifies global warming, leading to an increased frequency of extreme weather events and contributing to 24% of global deaths attributed to environmental concerns. These alarming environmental challenges demand urgent attention and the implementation of innovative policies. Responding to this imperative, the study examines the impact of artificial intelligence-based industrial robotics (AIIR) and other control variables such as green energy, green finance, and green energy investment on CO2 emissions in economies supporting green initiatives, including Canada, Denmark, China, Japan, New Zealand, Norway, Sweden, and Switzerland. Using monthly data from 2008 to 2021 and a novel nonlinear autoregressive distributed lag approach, the
results indicate that AIIR significantly reduces CO2 emissions in the sample economies. Additionally, green energy, green finance, and green energy investment also significantly decrease CO2 emissions. The study's outcomes bear policy implications for decision-makers in the sampled economies, offering tangible insights for effective environmental management.
... It is already beyond doubt that renewable energy technologies are by far a more environmentally friendly and cost-effective alternative to non-renewable sources for electricity generation [35,36]. With more than half of Ghana's electricity production in 2021 coming from fossil fuels [37], the country has still a considerably long journey towards a sustainable energy transition. ...
The research aims to identify which healthcare facilities (HCFs) in Ghana are suitable for electrification using photovoltaic mini-grids to increase their energy self-sufficiency and reliability of services provided. Additionally, the study categorises the HCFs in two groups: those with and without or with poor access to electricity supply, identify settlements within their catchment area, and determine the electricity demand for identified HCF sites and their surrounding communities. The research assesses the most suitable mini-grid system setup to electrify identified HCF sites and the impact of including the demand of surrounding communities into the energy system modelling. Finally, the study aims to determine the accumulated solar mini-grid potential to electrify all identified HCF sites. The study findings highlight the importance of integrated planning between the health and energy sectors to ensure high-quality health services. Solar mini-grids are identified as a promising solution for electrifying HCFs and improving energy self-sufficiency. However, it is recommended to avoid transferring findings between different types of health facilities due to their unique characteristics. The study also emphasizes the importance of balancing the energy flow and stabilizing the energy system through the combination of HCFs and surrounding communities’ demand. It is crucial to assess the electricity demand carefully based on context-specific characteristics, such as the type of HCF and the number of households considered. Overall, the study provides valuable insights into the potential of solar mini-grids to increase energy self-sufficiency in HCFs and the importance of careful planning and context-specific assessments.
... This method effectively converts data from a low frequency to a high frequency, providing more detailed observations for each original annual series point. The quadratic match-sum technique utilises a quadratic polynomial to account for seasonality, reducing point-to-point deviations and enhancing analysis reliability (Awosusi et al., 2022;Sharif et al., 2020;Kamel et al., 2022;Shahzad et al., 2017;Sharif et al., 2021;Alola et al., 2022). ...
This paper examines the controversy surrounding the link between structural change and tourism development, mainly focusing on small tourism states from 1995Q1-2020Q4 using a panel-based approach. To address the research objective, the Quantile-on-Quantile (QQ) regression approach is utilised to assess the impact of different quantiles of structural change on the quantiles of tourism development. To ensure robustness, the outcomes of the QQR approach are compared with those of the conventional quantile regression technique. Empirical findings from the QQR approach reveal specific relationships. In Belize, Cyprus, Dominican Republic, Iceland, Malta, and Seychelles, structural changes exhibit a structural-increasing effect on tourism development. Conversely, structural changes in the Bahamas, Fiji, and Trinidad & Tobago manifest both structural-increasing and structural-decreasing effects on tourism development. In Bahrain, structural changes have a structural-decreasing impact on tourism development. Furthermore, the study establishes a feedback nexus between tourism and structural change, offering feasible policy suggestions for policymakers. Overall, the findings suggest that sound policy responses to the relationship between structural change and tourism development should be context-specific, responsive to changing dynamics, and aimed at maximising the positive impacts of structural changes while mitigating potential negative consequences.
... The growing need for renewable energy sources, prompted by the dwindling availability of traditional energy reservoirs, underscores the significance of creating environmentally friendly alternatives within the energy industry [1,2]. Photovoltaic (PV) technology, especially solar cells, has arisen as a pivotal solution with the capability to supplant fossil fuels, curtail oil consumption, and alleviate environmental harm [3][4][5]. Various solar cell materials, including silicon (Si), Cu(In,Ga)(S,Se) 2 , gallium arsenide (GaAs), cadmium telluride (CdTe), and copper indium gallium selenide (CIGS), have made significant advancements in the PV field [6][7][8][9]. Silicon (Si) has solidified its supremacy in commercial applications owing to its impressive power conversion efficiency, stability, and resistance to radiation [10]. ...
Recently, the solar energy sector has been greatly interested in lead (Pb)-free inorganic halide perovskites due to their remarkable mechanical, optical, electronic, and structural characteristics. Our study comprehensively assessed these attributes in cubic A3SbI3(A = Ba, Sr, Ca) perovskite materials via first principles density functional theory (FP-DFT) and SCAPS-1D simulation. These materials, similar to lead-free inorganic metal halide perovskites, demonstrated favorable tolerance factors, direct bandgaps, mechanical robustness, minimal losses, and high absorption coefficients. We aimed to explore how A-cation size influences their properties and solar cell performance, enabling effective comparisons. We systematically investigated novel A3SbI3-based structures with tin (IV) sulfide (SnS2) buffers, varying layer thickness, doping density, and defect density to evaluate photovoltaic (PV) capabilities. The Ba3SbI3 absorber exhibited the highest power conversion efficiency (PCE) at 30.26% with JSC of 44.24 mA/cm², FF of 85.65%, and VOC of 0.80 V, while Sr3SbI3 and Ca3SbI3 absorbers achieved PCE of 26.93% and 20.87%, respectively, with corresponding JSC of 34.5 and 21.87 mA/cm², FF of 86.90% and 85.85%, and VOC of 0.90 and 1.11 V. Our A3SbI3-based solar cell structures offer innovative alternatives to conventional designs.
... Decentralized solar installations can continue to provide power during grid disruptions or natural disasters. Understanding these global statistics is crucial K. Ukoba et al. in evaluating the potential of solar technology to illuminate pathways toward development and progress, particularly in the Global South regions grappling with challenges [91][92][93][94]. ...
The Global South comprising economically disadvantaged regions of the world face various challenges such as limited access to electricity, clean water, industrialization, and food security. Solar energy, as a sustainable and abundant resource, holds great potential to address these challenges. Despite its immense potential, the Global South encounters hurdles related to technology adoption, infrastructure, and financial constraints. This review examines the history, classifications, global statistics, merits, and demerits of solar technology in the Global South. Furthermore, it delves into various applications of solar energy, including extreme environments, residential electricity generation, transportation, and industrial usage in this region. This study concludes by providing new insighths and highlighting the significant role solar energy can play in shaping the future of the Global South if challenges are adequately addressed, and opportunities are embraced.
... It is estimated that per 1 • C rise in the 10 × 10 4 m 3 FRT would require approximately 7 tons of standard coal. In this regard, in order to alleviate the pressure of high carbon emissions caused by crude oil heating and meet the Sustainable Development Goals (SDGs) and the net-zero targets, it is essential to reduce the carbon footprint of crude oil heating by introducing renewable energy [6,7]. Therefore, the integration of renewable energy presents a promising solution to support heating decarburization in the process of crude oil reserve. ...
To attain global ecological sustainability within the framework of ecological modernization, this study scrutinizes the multifaceted interaction among environmental‐related patent technologies (ERPT), natural resources, energy consumption (both renewable and nonrenewable energy usage) and globalization on the ecological footprint. To assess the novel aspects of the ongoing objective, this study employs Disc/Kraay, fully modified ordinary least square (FMOLS), and dynamic ordinary least square (DOLS) regression to generate comparative results across a panel of technologically advanced countries and resource‐rich least‐developed countries from 1990 to 2022. The empirical outcomes indicate that economies leading in eco‐friendly technologies and renewable sources of energy enhance environmental sustainability by minimizing their ecological footprint over time. In contrast, countries that rely heavily on natural resource extraction to meet energy demands tend to exacerbate ecological degradation. The process of globalization demonstrates the same trend for both developed and developing countries over the long term significantly elevating the level of ecological footprint. The Dumitrescu and Hurlin causality test discloses a reverse causal connection among concerning variables such as natural resources, ERPT, and energy reliance excluding globalization over the extended duration. The recommendations derived from the results suggest that governments in developing countries should strategically promote the adoption and dissemination of innovative, eco‐friendly resource extraction technologies. Meanwhile, governments in developed countries should focus on overhauling their ecological policies to play a crucial role in supporting and advancing ecological sustainability efforts in developing nations.
Climate change (CC) seriously threatens global water resources, exacerbating extreme water scarcity issues, especially in agriculture. Evapotranspiration (ET) is one of the essential components of the water cycle and is particularly sensitive to CC. Thus, this study presents an overview of the importance of ET estimation as climate-smart agriculture (C-SA) and its relevance in addressing CC's challenges. We adopted a systematic review methodology to select the relevant literature based on predefined inclusion and exclusion criteria. Based on the analysis, we found that CC has significantly affected the yield of various crops and changed the ET over time. Besides, C-SA tools are vital for addressing the challenges of CC. Its adoption in traditional agriculture can build strong resilience against threats posed by CC. In addition, significant development has been attained in the precision monitoring of the ET from agriculture fields, ranging from direct and indirect to more sophisticated energy balance and modern techniques. However, the accuracy of each method mainly depended on the specific regional climate conditions. In the absence of actual field measurements, empirical or modern models are helpful to estimate ET using routine meteorological variables. Yet, these models require local calibration for the best accuracy.
As a radiant beacon of hope, solar energy has emerged as a promising solution, illuminating the path toward a sustainable future. This study aims to comprehensively analyze the policies and strategies employed by the top five solar energy-producing nations (China, the USA, Japan, Germany, and India) in achieving a sustainable future through solar energy utilization. The study employs the IETB (Institution, Economics, Technology, and Behavior) framework to systematically and comprehensively examine the similarities and contrasts among the selected countries across the four dimensions. The findings highlight each country's unique policy regulations, technological advancements, and challenges. It also identifies the driving forces behind solar energy development in each country and provides valuable information to structure a roadmap for emerging and frontier economies. The study also unveils the current status of global solar energy and the intensity of CO2 emissions in the five major solar power-generating nations. It provides valuable recommendations for policymakers and future academics in formulating and implementing effective policies focused on fostering a sustainable future via solar energy utilization. It also encourages collaboration, innovation, and effective policymaking in the solar energy sector. The study is limited to the top five solar energy-producing nations, and the findings may only be generalizable to other countries with appropriate adaptations. The novelty lies in it being the first comparative study among the leading producers of solar energy to provide a systematic policy evaluation, country-wise comparison, and comprehensive carbon emissions identifications. It also provides a novel contribution to the knowledge pool on solar policy and renewable energy transition.
With the growing utilization of solar power for electricity and heat generation, photovoltaic-thermal (PVT) systems possess tremendous potential as sustainable energy solutions. This review covers recent advances in concentrated photovoltaic-thermal and photovoltaic-thermal technologies, providing insights into improving system performance. Our review concludes that recent innovations in materials, operating configurations, and integration with other technologies have largely optimized PVT designs. Moving forward, PVT systems present a promising pathway for clean, renewable energy generation through effective utilization of the full spectrum of solar energy. Further advancements in cost-competitiveness may facilitate widespread adoption.
Climate change has become a global burden. In part, technological innovations (TIs), foreign direct investments (FDIs), and agricultural growth are potential factors contributing to overall emissions. However, empirical evidence on the interplay of these variables on CO2 emissions is rare in literature, particularly for BRICS countries, which is essential to investigate. In this quest, we sourced panel data obtained from World Development Indicators and FAO repositories. We found cross-sectional dependency in the panel data. Hence, the Panel Autoregressive Distributed Lag model was used to analyse the short-run and long-run relationship. We found a long-run negative effect of TI on CO2 emissions, but no short-run effect was observed. Likewise, agricultural growth had positive significant effect on CO2 emissions only in the long-run. The Granger Causality test confirmed a causal relationship between agricultural growth, TI, and CO2 emissions in the BRICS countries. We recommend that BRICS countries should invest in innovative technologies, especially those that facilitate green production and renewable technologies to minimize greenhouse gas emissions. In addition, there is a need to embrace sustainable agricultural practices like tree-crop plantations, sustainable production technologies, and less-carbon-emitting inputs used to minimize the emissions from agriculture.
The article discusses the issues of studying heat transfer in hybrid solar collectors using a developed laboratory stand. The issue of solar energy efficiency is very important in light of the modern concept of carbon neutrality. One of the most promising solar energy technologies is the use of hybrid solar collectors, where, along with electrical energy, thermal energy is also generated. The heat removed from the surface of the solar panel allows to maintain a high level of its efficiency, and the heat removed is used by the consumer. One of the most effective methods for intensifying heat transfer in hybrid solar collectors is the use of nanofluids as a coolant. Nanofluids are a new type of coolant with increased thermal conductivity, consisting of a base fluid and nanoparticles. The most commonly used and economically feasible are nanofluids with the addition of metal oxides. The developed laboratory stand will allow simulating solar radiation and studying the currentvoltage characteristics of the solar panel at different lighting levels. The use of different types of nanofluids will allow to determine the most efficient operating modes of a hybrid solar collector. Analysis of thermal and electrical efficiency will provide a more complete picture of production when hybrid solar collectors operate in various modes using different types of nanofluids.
In this study, we fabricated an efficient and low-cost carbon-doped titania (C–TiO2) counter electrode (CE) as a substitute for platinum (Pt) in dye-sensitized solar cells (DSSCs). By varying different weight ratios, C–TiO2 samples were synthesized through the hydrothermal synthesis method followed by calcination in a tube furnace. The doctor blade coating method was used to deposit thin films of the synthesized samples onto the fluorine-doped tin oxide (FTO) substrates. Structural and morphological properties were studied by using various analytical techniques. Moreover, the electrochemical and photo-conversion characteristics of the fabricated CEs were investigated. Cyclic voltammetry (CV) results of the fabricated CEs showed electrocatalytic activity comparable to the Pt in the DSSCs. Meanwhile, photovoltaic measurement results showed the best-performing 15% C–TiO2 CE having 1.56% power conversion efficiency (PCE) as compared to Pt, which is 2.12%. This study proposed a simple method to fabricate a low-cost and efficient C–TiO2 CE for DSSCs.
The present study investigates the performance of photovoltaic thermal (PVT) systems that employ silver, aluminum oxide, copper, and titanium dioxide nanoparticles with distilled water as a solvent. The volume portions of the nanoparticles considered are 2% and 5% by weight. The study employs an energy balance equation to encompass circular geometries for fluid flow channels and a flow velocity ranging from 1×10−4 to 3×10−4 m/s. A numerical model has been established to investigate the performance of the photovoltaic thermal system and obtained the highest performance in Cu/water nanofluid for a uniform mass flow rate of 0.0670 kg/s and volume portion of 5% compared to other nanofluids, and the average electrical, thermal, and overall performance achieved is 15.8%, 30.2%, and 45.3%, respectively. Moreover, an artificial neural network (ANN) was developed to predict the electrical and thermal efficiency of the PVT system, and the mean absolute percentage error (MAPE) between array error of the thermal and electrical efficiency of the system is 4.98% and 2.61%, respectively. This value shows the strong validation of the numerical and ANN simulation values.
In recent years, inorganic perovskite materials have garnered significant attention in
solar technology due to their outstanding structural, optical, mechanical, and electronic
properties. A comprehensive investigation, employing first-principles density-functional
theory, was conducted to assess the impact of compressive and tensile strain on the
optical and electrical properties of cubic perovskite Sr3PBr3. The unstrained Sr3PBr3
exhibits a direct bandgap of 1.528 eV/ 2.32 eV with PBE/HSE functions at the Γ point.
Under compressive strain, the bandgap decreases (1.23 eV at -4% strain), leading to a
redshift in the absorption coefficient spikes, while tensile strain results in a slight
bandgap increase (1.723 eV at +4% strain) and a blueshift in absorption coefficient
spikes. Total density of states was computed as 18.75 and 1.60 electrons/eV at VB
and CB without strain. The value of static dielectric constant was measured as 5.24.
The initial critical point of dielectric constant, large absorption peak, and maximum loss
function were calculated at 1.47, 7.28, and 9.15 eV without strain. The material
demonstrates excellent light absorption in the range of visible light, aligning with its
electronic properties. The Sr3PBr3 perovskite is therefore thought to be perfect for
usage in solar cells for the generation of power and light control
The role of renewable energy and globalization on ecological footprint is investigated in the USA by controlling for the effects of financial development and real output using quarterly data from 1985:Q1 to 2014:Q4. We apply the minimum Lagrange multiplier unit root test, multiple structural break cointegration test, and autoregressive distributed lag (ARDL) estimation approach. The empirical evidence suggests that, in the long run, renewable energy and real output exert negative pressure on ecological footprint while financial development and globalization exert positive pressure on ecological footprint. The short-run results indicate that renewable energy, financial development, real output, and globalization are positively linked to ecological footprint. The vector error correction model Granger causality results, in the long run, divulge that ecological footprint, consumption of renewable energy, real output, and globalization Granger-cause financial development while ecological footprint, renewable energy, financial development, and globalization Granger-cause real output. The results also show that, in the short run, renewable energy and globalization cause ecological footprint and real output causes renewable energy, while renewable energy causes globalization. The finding also reveals that the causality between real output and globalization, as well as globalization and financial development, is bidirectional. Therefore, our findings provide insights for policymakers to consider consumption of renewable energy as a surest way to mitigate environmental degradation.
Many recent studies have focused on the influencing factors of the ecological footprint, but less attention has been given to human capital. Human capital, which is based on education and rate of return on education, may reduce the ecological footprint since environmental issues are human-induced. The current study investigates the impact of human capital on the ecological footprint in India for the period 1971 to 2014. The outcomes of the newly developed combined cointegration test of Bayer and Hanck disclose the long-run equilibrium relationship between variables. The findings reveal a significant negative contribution of human capital to the ecological footprint. The results of the causality test show that human capital Granger causes the ecological footprint without any feedback. In addition, energy consumption adds to the ecological footprint, while the relationship between economic growth and ecological footprint follows an inverted U-shaped pattern. The findings unveil the potential to reduce the ecological footprint by developing human capital.
This article analyzes asymmetric volatility effects for the 20 largest cryptocurrencies and reports a very different asymmetry compared to equity markets: positive shocks increase the volatility by more than negative shocks. We explain this atypical effect for financial assets with trading activity of uninformed noise traders for positive shocks and trading activity of informed traders for negative shocks. The findings are consistent with “fear of missing out” (FOMO) of uninformed investors and the existence of pump and dump schemes.
Both fossil-fuel and non-fossil-fuel power technologies induce life-cycle greenhouse gas emissions, mainly due to their embodied energy requirements for construction and operation, and upstream CH4 emissions. Here, we integrate prospective life-cycle assessment with global integrated energy-economy-land-use-climate modelling to explore life-cycle emissions of future low-carbon power supply systems and implications for technology choice. Future per-unit life-cycle emissions differ substantially across technologies. For a climate protection scenario, we project life-cycle emissions from fossil fuel carbon capture and sequestration plants of 78-110 gCO2eq kWh⁻¹, compared with 3.5-12 gCO2eq kWh⁻¹ for nuclear, wind and solar power for 2050. Life-cycle emissions from hydropower and bioenergy are substantial (~100 gCO2eq kWh⁻¹), but highly uncertain. We find that cumulative emissions attributable to upscaling low-carbon power other than hydropower are small compared with direct sectoral fossil fuel emissions and the total carbon budget. Fully considering life-cycle greenhouse gas emissions has only modest effects on the scale and structure of power production in cost-optimal mitigation scenarios.
The major contributor to global warming is considered to be the high levels of greenhouse gas emissions, especially carbon dioxide (CO2), caused by the burning of fossil fuel. Thus, to mitigate CO2 emissions, renewable energy sources such as ethanol have been seen as a promising alternative to fossil fuel consumption. Brazil was the world's first nation to run a large-scale program for using ethanol as fuel. Eventually, the United States also developed large-scale production of ethanol. In this study, we compare the benefits and environmental impacts of ethanol fuel, in Brazil and in the United States, using the ecological footprint tool developed by Wackernagel and Rees. We applied the STELLA model to gauge possible outcomes as a function of variations in the ethanol production scenario.
Municipal sustainability plans typically include laudable environmental goals, but they rarely explain the connection between these goals and a larger conception of sustainability. In this article, we examine one local sustainability plan, Philadelphia's Greenworks, through a city-based, rather than per capita-based, ecological footprint (EF) analysis. Our objective is to theoretically establish the extent to which at least one of the items in Greenworks—to have 20% of the city's electricity come from alternative energy sources—might reduce Philadelphia's overall energy footprint if imple-mented within the municipal boundaries. By moving away from the idea that per capita energy footprints add up to a citywide energy footprint, we posit that a city can reduce its overall energy footprint by utilizing internal resources, even if the total land used for that respective energy were to increase. For many cities this will result in the use of renewables, such as solar, biogas, wind, hydropower, geothermal, and other creative solutions. By extending at least one component of Philadelphia's sustainability plan through EF analysis, we provide a hypothetical example of how municipal sustainability goals might contribute to a larger goal of urban sustainability, at least in the limited sense that they become less reliant on outlying resources.
In this article, the contributions of energy use to the climate variation debates are explored. Analyses based on secondary data depict that global fossil fuel use has increased and dominated world energy consumption and supply which is quite similar to the Indian case. This increase in the global energy use has resulted in higher emissions. To account for the changes in carbon dioxide (CO2) emission, this article follows an index decomposition analysis using data from PROWESS database of the Center for Monitoring Indian Economy (CMIE). Two factors are considered to account for the changes in emission intensity of Indian economy: (i) shift in output among three sectors of the India economy (Agriculture, Service and Manufacturing) and (ii) structural change due to change in aggregate output with respect to emissions change. Based on the estimates, we conclude that structural changes in the Indian economy from 1991 to 2007 played important major driving factor in reducing emissions compared to output shifts across sectors. Based on the findings and international experiences, few policy options for Indian economy, such as, energy pricing reforms, promoting investment in renewable energy technologies and creating public environmental awareness, are further suggested.
The major contributor to global warming is considered to be the high levels of greenhouse gas emissions, especially carbon
dioxide (CO2), caused by the burning of fossil fuel. Thus, to mitigate CO2 emissions, renewable energy sources such as ethanol have been seen as a promising alternative to fossil fuel consumption.
Brazil was the world's first nation to run a large-scale program for using ethanol as fuel. Eventually, the United States
also developed large-scale production of ethanol. In this study, we compare the benefits and environmental impacts of ethanol
fuel, in Brazil and in the United States, using the ecological footprint tool developed by Wackernagel and Rees. We applied
the STELLA model to gauge possible outcomes as a function of variations in the ethanol production scenario.
We study statistical inference in quantile autoregression models when the largest au-toregressive coe cient may be unity. The limiting distribution of a quantile autoregression estima-tor and its t-statistic is derived. The asymptotic distribution is not the conventional Dickey-Fuller distribution, but a linear combination of the Dickey-Fuller distribution and the standard normal, with the weight determined by the correlation coe cient of related time series. Inference methods based on the estimator are investigated asymptotically. Monte Carlo results indicate that the new inference procedures have power gains over the conventional least squares based unit root tests in the presence of non-Gaussian disturbances. An empirical application of the model to US macroeconomic time series data further illustrates the potential of the new approach.
Economic and demographic transitions led by the persistent increase in the per capita income have challenged the environmental conservation drive in most of the developing nations. Therefore, in recent years, policymakers emphasized the need for navigating the harmful impacts of economic growth endeavors on the established ecosystem. In this regard, the widespread usage of renewable energy solutions has helped in restoring the environmental quality in both developed and developing countries. Keeping this in mind, in the present study, we examined the long run and short-run impacts of per capita income, renewable energy, life expectancy, and population density on the ecological footprint in the eight developing countries of South and Southeast Asia from 1990 to 2015. In the selected nations, these variables appear to be the potential drivers of the ecological footprint. To calculate the common coefficients, we have employed the cross-sectional augmented autoregressive distributed lag (CS-ARDL) approach, as this approach handles the cross-sectional dependency issue efficiently and provides the short-run and long-run coefficients. The long-run results supported the need for low pollution-intense energy resources because the association between per capita income and ecological footprint is found N-shaped. Further, the study established that the increased use of renewable energy has significantly reduced the ecological footprint in the region. However, the increased population density has led to an increase in pollution emissions in these countries. Similarly, the impact of life expectancy on the ecological footprint is found positive but insignificant. Based on the findings, a multipronged policy framework has been designed, so that these nations can attain the objectives of certain sustainable development goals (SDGs).
Economic growth, accompanied by rising energy demand in ASEAN countries have been unprecedented over these few years. On the other hand, the energy consumed in the ASEAN region is predominantly non-renewable, which could have implications for sustainable development. Previous studies that have investigated the energy-growth-environment nexus for this region are inefficient in terms of the proxies used to measure environmental quality and the estimation techniques adopted. As such this study explores the influence of renewable and non-renewable energy consumption, economic growth, and urbanization on a more reliable environmental indicator (ecological footprint) from 1990 to 2016, while controlling for trade. First-and-second-generation unit root and cointegration tests are applied amidst evidence of cross-sectional dependence. Findings reveal that economic growth, trade, and non-renewable energy contribute significantly to environmental degradation in ASEAN countries. This suggests that the region is growing at the expense of its environment, while also indulging in emission-intensive trade. Further findings show a one-way causality from urbanization to non-renewable energy consumption. Policy directions and implications of the findings for sustainability are discussed.
We examine the effect of stock market development (SMD) on the low-carbon economy (LCE). We consider two channels, renewable energy and technological innovation by which this affect occurs. We use the cross-sectional autoregressive distributed lags (CS-ARDL) approach to analyse panel time-series data over the period 1980–2016 for European Union member countries. We demonstrate that SMD impedes LCE in the long run. In contrast, technological innovation (TI) is found to be a driving factor in achieving LCE in the long run. Our results also support the argument that renewable energy consumption and production enhance LCE. Stock market development fosters LCE through the channels of renewable energy and technological innovation. Overall results are robust to the conditions of short- and long-run homogeneity and the cross-sectional dependence in the sample. Our results pose important policy implications.
In recent years, Islamic finance has become increasingly influential, especially Islamic stocks, which have created huge investment attractiveness. At the same time, the financialization of oil has made the international oil market increasingly uncertain and more likely to affect other markets. To effectively understand the correlation between the two markets, we empirically analyze the cases of four typical countries from the perspective of oil market uncertainty. This paper utilizes OVX as an accurate measure of oil market uncertainty and applies quantile-on-quantile approach to detect the asymmetric and heterogeneous relations between the variables. Our results show overall negative linkages between OVX changes and Islamic stock returns, and there is indeed asymmetry. Namely, the effects of oil market uncertainty will be more pronounced when it is at higher quantiles. Further comparing the results of the four countries, we can find some heterogeneities. Oil-importing countries are more sensitive than oil-exporting countries, and Islamic countries are more sensitive than non-Islamic countries. The findings of this article about the linkages between oil market uncertainty and Islamic stock markets is meaningful to the research and financial practice in related fields.
The relationship between natural resource abundance and environmental degradation has important environmental implications. However, this domain is insufficiently investigated, and diverse findings are evident in the literature. The significant economic growth, along with rapid urbanization and industrialization, has increased the extraction and consumption of natural resources in China. Therefore, this study investigates the effect of natural resources abundance, human capital, and urbanization on the ecological footprint in China, controlling economic growth. The study uses the famous Bayer and Hack cointegration test, and bootstrap causality technique to study cointegration and causal association among variables. The findings of the study confirm the long-run equilibrium relationship among variables. The long-run results reveal that natural resource rent increases the ecological footprint. Urbanization and economic growth contribute to environmental degradation, whereas human capital mitigates environmental deterioration. Interestingly, the interaction between urbanization and human capital helps in alleviating environmental degradation, which indicates a moderating effect of human capital in promoting sustainable urbanization. The estimates of the bootstrap causality method disclose unidirectional causality from natural resources to the ecological footprint. Urbanization also Granger-causes ecological footprint without any feedback. The results are also compared and verified using carbon footprint as an additional proxy for environmental degradation. Lastly, comprehensive policy measures are proposed to improve environmental quality.
The current study re-investigates the impact of renewable and non-renewable energy consumption on Turkey’s ecological footprint. This study applies the Quantile Autoregressive Lagged (QARDL) approach for the period of 1965Q1-2017Q4. We further apply Granger-causality in Quantiles to check the causal relationship among the variables. The results of QARDL show that error correction parameter is statistically significant with the expected negative sign for all quantiles which confirm existence of significant reversion to the long-term equilibrium connection between the related variables and ecological footprint in Turkey. In particular, the outcomes suggested that renewable energy decrease ecological footprint in long-run on each quantile. However, the results of economic growth and non-renewable energy impact positively to the ecological footprint in long-short run period at all quantiles. Finally, we tested the Environmental Kuznets Curve (EKC) hypothesis and the results of QARDL confirmed the EKC in Turkey. Furthermore, the findings of the causal investigation from Granger-causality in quantiles evident the presence of a bi-directional causal relationship between renewable energy consumption, energy consumption and economic growth with an ecological footprint in the Turkish economy.
Although it is widely accepted that renewable energy consumption is vital for environmental sustainability, the environmental effectiveness of individual renewable energy types is often overlooked. Therefore, this paper examined the multivariate relationship between disaggregated renewable energy (hydroelectricity, wind, solar and biomass) consumption, economic growth and environmental pollution for the period from 1991 to 2014 in G-7 (The Group of Seven) countries. The study used both augmented mean group estimator and panel bootstrap causality method to consider the cross-sectional dependence and country specific heterogeneity across G-7 countries. Empirical findings indicate that increasing biomass energy consumption was efficient to reduce carbon emission in France, Germany, Japan and the United States; increasing hydroelectricity usage was efficient to reduce carbon emission in Italy and the United Kingdom; wind energy consumption reduced emission in Canada and solar energy usage was efficient on reducing emission in France and Italy for observed period. Moreover, in case of panel, it is found that increasing hydroelectricity, biomass and wind energy consumption reduced carbon emissions while the impact of solar energy consumption is statistically insignificant in G-7 countries. In addition, the hydroelectricity consumption was found the most efficient renewable energy source to reduce environmental pollution for the panel of G-7 countries.
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Jacques A. de Chalendar is a doctoral candidate in the Energy Resources Engineering department at Stanford University and a State Grid Graduate Student Fellow through Stanford’s Bits and Watts initiative. His PhD research focuses on applying state-of-the-art computational tools to energy and carbon management problems. He is an Ingénieur Polytechnicien from the French Ecole Polytechnique.
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Sally M. Benson is a professor of energy resources engineering in the School of Earth, Energy & Environmental Sciences, co-director of the Precourt Institute for Energy, and Director of the Global Climate and Energy Project at Stanford University. Formerly, Benson was at Lawrence Berkeley National Laboratory, where she held a variety of key positions, including Deputy Director, Associate Director for Energy Sciences, and Director of the Earth Sciences Division. Benson is regarded as an authority on carbon capture and storage. She also uses energy systems analysis to help guide decisions about the most promising pathways for clean energy development.
In spite of the continued deployment of technologies, innovations toward addressing the challenges of global warming, forecasting and sustaining quality environment have remained the herculean endeavour of the advanced states. Also, being migrants' destinations, resulting from the availability of economic opportunities, the target of attaining low-carbon, energy efficiency, and the cleaner atmospheric environment by these advanced economies is further bewildered. In that light, we investigate the impact of renewable energy consumption and migration on the carbon dioxide emissions of the panel of European Union's largest economies of France, Germany, and the United Kingdom over the period of 1990–2016. The consistency of the group fully modified least square and dynamic ordinary least square presents elasticity of −0.13 and −0.14 respectively for the nexus of renewables and carbon emissions. Similarly, 0.04 and 0.05 are the respective elasticity of the two models for the nexus of migration and carbon emissions. In support of extant literature, the nexus of carbon emissions with gross domestic product and consumer price index are significant, and respectively positive and negative. In addition, the study reveals evidence of Granger causality with feedback between renewable energy consumption and carbon emissions, and between consumer price index and carbon emissions. On the other hand, a unidirectional Granger causality running from migration to carbon emissions is observed. In practical term, the study presents policy frameworks for the examined countries and other advanced nations. The implementation of the presented policy pathways are potentially geared toward a forecastable, sustainable environmental quality and energy efficiency targets.
The present study examines the long-run and short-run impacts of fossil fuels consumption, foreign direct investment and economic growth on carbon emissions in fifteen developing Asian countries. Our empirical evidence analyses panel data for the period from 1990 to 2013, and it applies an Autoregressive Distributive Lag (ARDL) model. Our results show that in these developing economies, the efforts to foster economic growth are contributing to the generation of CO2 emissions, and that fossil fuels consumption is contributing to carbon emissions and to the deterioration of the environment at the regional level. Moreover, the empirical results spotlight that foreign direct investment is a source of environmental degradation that increases carbon emissions at the domestic level, confirming the Pollution Haven hypothesis. Furthermore, our data confirms the existence of an Environmental Kuznets Curve (EKC) in these developing Asian countries. Finally, our study suggests that reducing the consumption of fossil fuels and fostering an environmentally friendly economic growth strategy in these developing countries will prove helpful for the well-being of this part of the developing world.
Using a large sample of 25 Organization for Economic Co-operation and Development (OECD) countries, we provide evidence that the growth of equity and credit markets promotes cleaner energy (biomass renewable energy, non-biomass renewable energy, and total bio and non-bio renewable energy) production in those countries. We also find that the 2008 global financial crisis (GFC) adversely affects the production of cleaner energy. Our results are robust to alternative definitions of financial market development, cleaner energy, and controlling for the effect of government subsidy on cleaner energy. By supporting the demand-induced supply of cleaner energy, we demonstrate that the positive and significant effect of financial market development (FMD) on cleaner energy is stronger in countries with higher growth in carbon intensity and a lower availability of fossil fuels than otherwise. Our results also support the argument that financing uncertain projects such as those that produce cleaner energy should be greater in countries with a higher innovation culture than those where financial markets are already accustomed to undertaking risky investments. The overall results are also robust under the conditions of short-run and long-run homogeneity and the cross-sectional dependence in the sample. Policy implications are also provided.
This study examines the energy use – economic growth nexus by disaggregating energy use into two types of
energy, renewable and non-renewable energy use. Our sample consists of eleven MENA Net Oil Importing
Countries (NOICs) during the period 1980–2012. A multivariate panel framework was used to estimate the long
run relationship and the panel Granger causality tests was employed to assess the causality direction among
variables.
The empirical results provide evidence for long-term equilibrium relationship between real Gross Domestic
Product (GDP), renewable energy use, non-renewable energy use, real gross fixed capital formation and labor
force. The results provide evidence also for positive and statistically significant elasticities. Moreover, the
empirical findings from panel Error Correction Model confirm the existence of bidirectional causality between
renewable energy use and economic growth, and between non-renewable energy use and economic growth,
results that support the feedback hypothesis. Moreover, our empirical findings provide evidence for two way
(bidirectional) causal association in both the short and long-run between renewable and non-renewable energy
use which proves the substitutability and interdependence between these two types of energy sources. The
policies implications of these results are also proposed and discussed.
At present, pollution is a matter of grave concern; it is occurring due to the abundant burning of fossil fuels. Among the reasons for environmental pollution, one is the conventional method of power generation to produce electricity. If a portrait of the world's pollution is taken, the countries that use non-conventional power make many times less pollution than those with conventional power usage. As a result of massive pollution, climates all over the world have been changed, and people are facing lots of problems. To remedy this vital concern, the one and only way is to adopt the habit of utilizing renewable energy sources. Among all renewable energy sources, solar energy is the only major, environmentally independent source of energy that is sustainable and can produce a good amount of energy. The basic problem of solar cell is its high cost and poor efficiency. But new technology (nanotechnology) has been discovered that will reduce the cost of solar cell, with improved efficiency.
The Ecological Footprint and Biocapacity have been compared with several commonly used environmental indices measuring various aspects of ecological sustainability and biodiversity. We found that the Ecological Footprint and Biocapacity are closely related especially to the Human Appropriation of Net Primary Production (HANPP). On the other hand, the Ecological Footprint is negatively related to other measures of ecosystem health and biodiversity such as the Ecosystem Wellbeing Index (EWI). We explored patterns of correlation between the Ecological Footprint and ecosystem and biodiversity measures, including threatened species numbers. Our results support previous findings that human economic activity and environmental pressures are related to threats to biodiversity. This analysis provides evidence that the Ecological Footprint is a meaningful ecological indicator which can be compared to equivalent measures of the appropriation of ecosystem productive capacity and land use pressures.
Quantile regression has important applications in risk management, portfolio optimization, and asset pricing. The current paper studies estimation, inference and financial applications of quantile regression with cointegrated time series. In addition, a new cointegration model with quantile-varying coefficients is proposed. In the proposed model, the value of cointegrating coefficients may be affected by the shocks and thus may vary over the innovation quantile. The proposed model may be viewed as a stochastic cointegration model which includes the conventional cointegration model as a special case. It also provides a useful complement to cointegration models with (G)ARCH effects. Asymptotic properties of the proposed model and limiting distribution of the cointegrating regression quantiles are derived. In the presence of endogenous regressors, fully-modified quantile regression estimators and augmented quantile cointegrating regression are proposed to remove the second order bias and nuisance parameters. Regression Wald tests are constructed based on the fully modified quantile regression estimators. An empirical application to stock index data highlights the potential of the proposed method.
Two classes of quantile regression estimation methods for the recursive structural equation models of Chesher [2003. Identification in nonseparable models. Econometrica 71, 1405–1441.] are investigated. A class of weighted average derivative estimators based directly on the identification strategy of Chesher is contrasted with a new control variate estimation method. The latter imposes stronger restrictions achieving an asymptotic efficiency bound with respect to the former class. An application of the methods to the study of the effect of class size on the performance of Dutch primary school students shows that (i) reductions in class size are beneficial for good students in language and for weaker students in mathematics, (ii) larger classes appear beneficial for weaker language students, and (iii) the impact of class size on both mean and median performance is negligible.
This paper extends unit root tests based on quantile regression proposed by Koenker and Xiao [Koenker, R., Xiao, Z., 2004. Unit root quantile autoregression inference, Journal of the American Statistical Association 99, 775–787] to allow stationary covariates and a linear time trend. The limiting distribution of the test is a convex combination of Dickey–Fuller and standard normal distributions, with weight determined by the correlation between the equation error and the regression covariates. A simulation experiment is described, illustrating the finite sample performance of the unit root test for several types of distributions. The test based on quantile autoregression turns out to be especially advantageous when innovations are heavy-tailed. An application to the CPI-based real exchange rates using four different countries suggests that real exchange rates are not constant unit root processes.
An asymptotic optimality theory for the estimation of cointegration regressions is developed in this paper. The theory applies to a reasonably wide class of estimators without making any specific assumptions about the probability distribution or short-run dynamics of the data-generating process. Due to the nonstandard nature of the estimation problem, the conventional minimum variance criterion does not provide a convenient measure of asymptotic efficiency. An alternative criterion, based on the concentration or peakedness of the limiting distribution of an estimator, is therefore adopted. The limiting distribution of estimators with maximum asymptotic efficiency is characterized in the paper and used to discuss the optimality of some known estimators. A new asymptotically efficient estimator is also introduced. This estimator is obtained from the ordinary least-squares estimator by a time domain correction which is nonparametric in the sense that no assumption of a finite parameter model is required. The estimator can be computed with least squares without any initial estimations.
CO2 Emissions from Fuel Combustion: Overview an Essential Tool for Analysts and Policy Makers
IEA, 2017. CO2 Emissions from Fuel Combustion: Overview an Essential Tool for
Analysts and Policy Makers. International Energy Agency.
Solar Energy vs. Fossil Fuels
- K Parkman
Parkman, K., 2020. Solar Energy vs. Fossil Fuels. Consumer Affairs. https://www.
consumeraffairs.com/solar-energy/solar-vs-fossil-fuels.html.
- A Sharif
- M S Meo
- M A F Chowdhury
A. Sharif, M.S. Meo, M.A.F. Chowdhury et al.
Journal of Cleaner Production 292 (2021) 126028