The role of disaggregated renewable energy consumption on income and load capacity factor:A novel inclusive sustainable growth approach

Stimulating renewable energy consumption is a major focus of the Sustainable Development Goals in combating climate change and global warming.The International Energy Agency estimates that renewable energy consumption should be doubled to achieve the COP21 targets.In this context,the question is whether renewable energy types promote the improvement of ecological quality and economic growth.Most studies have investigated the influence of renewable energy on ecological pollution using carbon dioxide emissions or ecological footprint indicators,which only represent the pollution caused by human consumption patterns,and these indicators neglect the supply side.Motivated by this point,this study uses the LCF(Load Capacity Factor)as an environmental indicator and examines the causality relationship among different types of renewable energy,income,and environmental quality in the USA,while also incorporating employment and capital stock into the analysis.Through using the Fourier causality test with the wavelet-decomposed series,the study explores for the validity of the renewable energy-based growth hypothesis and answers to the question of whether there is a causal effect of renewable energy types on environmental quality.The results demonstrate that there is a bidirectional causality between total renewable energy,wood,biomass,and economic growth as well as between these renewable energy types and the LCF.

Enhancing environmental quality in the United States by linking biomass energy consumption and load capacity factor

This study analyzes the impact of biomass energy,financial development,and economic growth on environmental quality using the novel Fourier autoregressive distributed lag(ARDL)approach on annual data for the period 1965–2018 in the United States(USA).The study analyzes the impact of related variables on the load capacity factor(LCF)as well as on indicators of environmental degradation such as carbon dioxide emissions and ecological footprint.The LCF is one of the most comprehensive environmental indicators to date,encompassing both biocapacity and ecological footprint.In this regard,this study contributes to the environmental economics literature by examining,for the first time,the impact of biomass energy on the LCF.The results of the cointegration test show that there is only a long-run relationship between the LCF and the independent variables.According to the Fourier ARDL results,biomass energy improves the environmental quality,while financial development has no effect on the LCF.Moreover,the increase in per capita income reduces the LCF.Furthermore,since the income elasticity is larger in the long run than in the short-run,the environmental Kuznets curve is validated.Therefore,the United States government should encourage the use of biomass and investment in this form of energy.

Exploring the impact of green technology,renewable energy and globalization towards environmental sustainability in the top ecological impacted countries

Green environmental technologies,renewable energy and globalization are interconnected pillars that impact economies and societies.By effectively fostering these resources,environmental policies can help achieve economic prosperity,sustainable development and environmental protection.The current study seeks to address environmental and economic predicaments by empirically examining the role of green technology and renewable energy in influencing the load capacity factor and ecological footprint with the highest ecological impact.Given that these nations are also significant players in the global economy,we also examine the impact of Globalization and economic growth within econometric investigation.The current study uses moments quantile regression(MMQR)as an econometric strategy to report that while innovations in green technology and renewable energy positively influence load factor capacity and help reduce ecological footprint,certain facets of globalization worsen the ecological footprint,thereby unsettling its load factor capacity.These findings underscore the pressing need for policymakers to prioritize integrating environmental and trade policy agreements to ensure progress towards long-term environmental goals。