Renewable Energy Contribution to Economic Growth in OECD countries

Year 2019, Volume: 1 Issue: 2, 86 - 93, 31.12.2019

Ramandray Felix

Abstract

In the scope of climate change mitigation, renewable energy deployment has been given a priority in the energy policy of many countries in order to reduce the dependence on non-renewable energy. A significant drop in the price of renewable energy technology has been observed over decades, which led to an increase in the share of renewable energy in the energy production. Then, the present study investigates the renewable energy contribution to economic growth in OECD countries over the period between 1996 and 2014 in the context of panel data model. The results support that the growth in renewable energy use has a significant and positive impact on economic growth. Therefore, policymaker should continue to support renewable energy-based power plant installation.

Keywords

Renewable and non-renewable energy, Economic growth, Panel data model

Yenilenebilir Enerjinin OECD Ülkelerinde Ekonomik Büyümeye Katkısı

Abstract

İklim değişikliğinin azaltılması kapsamında yenilenemez olan enerjiye bağımlılığı azaltmak amacıyla birçok ülkenin enerji politikasında yenilenebilir enerji kullanımına öncelik verilmiştir. Yıllar boyunca yenilenebilir enerji teknolojisinin fiyatında, enerji üretiminde yenilenebilir enerji payının artmasına yol açan önemli bir düşüş gözlenmiştir. Bu çalışma, OECD ülkeleri için 1996 ve 2014 arasındaki panel veri modelleri bağlamında yenilenebilir enerjinin etkisini incelemekte. Sonuç, yenilenebilir enerji kullanımındaki artışın ekonomik büyüme üzerine anlamlı ve pozitif bir etki olduğunu göstermektedir. Bu nedenle, politika yapıcı, yenilenebilir enerji santralinin kurulumunu desteklemeye devam etmelidir.

Keywords

Yenilenebilir ve yenilenemez enerji, ekonomik büyüme, panel veri modelleri

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