Energy Demand, Financial Access, and Urbanization as Determinants of the Load Capacity Factor: Fresh Evidence from the United States

Öz

This study explores economic activity, energy consumption, financial availability, and urban growth in determining environmental sustainability in the United States using the Load Capacity Factor (LCF) in the Load Capacity Curve (LCC) hypothesis. The analysis uses annual data from 1996 to 2022 and starts with a set of unit root tests (ADF, PP, and DF-GLS) to check the stationarity of the variables. The ARDL bound-testing model demonstrates a long-term equilibrium in the chosen indicators. Long-term estimates show that economic growth and improved financial accessibility enhance the LCF, reflecting better ecological conditions. However, the short-term dynamics differ: increases in GDP, rising energy consumption, and rapid urbanization exert downward pressure on LCF, highlighting transitional environmental stress during periods of accelerated development. Overall, the results suggest that while sustained economic progress and enhanced financial inclusion support long-run ecological resilience, the United States continues to face short-run environmental challenges driven by fossil-fuel-intensive energy use and urban population growth. These insights underscore the importance of a combined approach to policies that would strike a balance between economic goals and environmental protection in the long run by using cleaner forms of energy, practicing greener finances, and ensuring sustainable urban development.

Anahtar Kelimeler

• Load Capacity Factor
• Energy Consumption
• Urbanization
• Financial Accessibility
• ARDL Approach

Yük Kapasite Faktörünün Belirleyicileri Olarak Enerji Talebi, Finansal Erişim ve Kentleşme: Amerika Birleşik Devletleri'nden Yeni Bulgular

Öz

Bu çalışma, Yük Kapasitesi Eğrisi (YKC) hipotezinde Yük Kapasite Faktörü (YKF) kullanarak Amerika Birleşik Devletleri'nde çevresel sürdürülebilirliğin belirlenmesinde ekonomik aktivite, enerji tüketimi, finansal erişilebilirlik ve kentsel büyümenin rolünü incelemektedir. Analiz, 1996-2022 yılları arasındaki yıllık verileri kullanmakta ve değişkenlerin durağanlığını kontrol etmek için bir dizi birim kök testi (ADF, PP ve DF-GLS) ile başlamaktadır. ARDL sınır testi modeli, seçilen göstergelerde uzun vadeli bir dengeyi göstermektedir. Uzun vadeli tahminler, ekonomik büyüme ve iyileştirilmiş finansal erişilebilirliğin YKF'yi artırdığını ve daha iyi ekolojik koşulları yansıttığını göstermektedir. Bununla birlikte, kısa vadeli dinamikler farklıdır: GSYİH'deki artışlar, artan enerji tüketimi ve hızlı kentleşme, YKF üzerinde aşağı yönlü baskı oluşturarak, hızlandırılmış kalkınma dönemlerinde geçici çevresel stresi vurgulamaktadır. Genel olarak, sonuçlar, sürdürülebilir ekonomik ilerleme ve artırılmış finansal kapsayıcılığın uzun vadeli ekolojik direnci desteklerken, Amerika Birleşik Devletleri'nin fosil yakıt yoğun enerji kullanımı ve kentsel nüfus artışından kaynaklanan kısa vadeli çevresel zorluklarla karşı karşıya kalmaya devam ettiğini göstermektedir. Bu bulgular, daha temiz enerji biçimleri kullanarak, daha çevreci finansman yöntemlerini uygulayarak ve sürdürülebilir kentsel kalkınmayı sağlayarak, uzun vadede ekonomik hedefler ile çevre koruma arasında denge kuracak birleşik bir politika yaklaşımının önemini vurgulamaktadır.

Anahtar Kelimeler

• Yük Kapasite Faktörü
• Enerji Tüketimi
• Kentleşme
• Finansal Erişilebilirlik
• ARDL Yaklaşımı

Kaynakça

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