Heterogeneous Effects of Green Technology Innovations on Renewable Energy Supply Share: A Dynamic Panel Evidence

Abstract

This study examines the determinants of renewable energy efficiency (REE) in a balanced panel of 17 countries (1995–2021), focusing on green technology innovations (GTI), economic growth (EG), and energy taxation (ET). The analysis accounts for heterogeneity, common shocks, and dynamic adjustment by combining two-way fixed effects with dependence-robust and dynamic common correlated effects (CCE) estimators using Driscoll–Kraay inference. The results show strong persistence in REE and a robust positive association between GTI and REE in the preferred common-factor framework, while the average effects of EG and ET are weaker and model-sensitive. Dumitrescu–Hurlin panel causality tests indicate feedback between REE and EG and bidirectional linkages between REE and ET at the level, whereas innovation dynamics are asymmetric. Overall, the evidences support innovation-centered transition strategies and emphasizes evaluating policy instruments over multi-year horizons given strong persistence and cross-country heterogeneity.

Keywords

• Renewable Energy Efficiency
• Green Technology Innovations
• Energy Tax
• Economic Growth

Yeşil Teknoloji İnovasyonlarının Yenilenebilir Enerji Arz Payı Üzerindeki Heterojen Etkileri: Dinamik Panel Kanıtı

Abstract

Bu çalışma, 17 ülkeyi kapsayan dengeli bir panelde (1995–2021) yenilenebilir enerji verimliliğinin (YE) belirleyicilerini, yeşil teknoloji yenilikleri (GTİ), ekonomik büyüme (EG) ve enerji vergisi (ET) üzerinde yoğunlaşarak incelemektedir. Analiz, Driscoll-Kraay çıkarımını kullanarak iki yönlü sabit etkileri, bağımlılığa dayanıklı ve dinamik ortak korelasyonlu etkiler (CCE) tahmincileriyle birleştirerek heterojenliği, ortak şokları ve dinamik ayarlamayı hesaba katmaktadır. Sonuçlar, YE'de güçlü bir süreklilik ve tercih edilen ortak faktör çerçevesinde GTİ ile YE arasında güçlü bir pozitif ilişki gösterirken, EG ve ET'nin ortalama etkileri daha zayıf ve modele duyarlıdır. Dumitrescu-Hurlin panel nedensellik testleri, YE ve EG arasında geri bildirim ve YE ve ET arasında çift yönlü bağlantılar olduğunu gösterirken, yenilik dinamikleri asimetriktir. Genel olarak, kanıtlar yenilik merkezli geçiş stratejilerini desteklemekte ve güçlü süreklilik ve ülkeler arası heterojenlik göz önüne alındığında, politika araçlarının çok yıllık ufuklarda değerlendirilmesinin önemini vurgulamaktadır.

Keywords

• Yenilenebilir Enerji Verimliliği
• Yeşil Teknoloji İnovasyonları
• Enerji Vergisi
• Ekonomik Büyüme

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