Climate risk and energy-saving technology innovation: Evidence from Chinese prefecture-level cities

IF 13.6 2区经济学 Q1 ECONOMICS

Energy Economics Pub Date : 2024-09-19 DOI:10.1016/j.eneco.2024.107917

Li Xie , Siyi Li

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Abstract

In the face of the challenges of energy and environmental issues posed by climate risk, actively promoting energy-saving technology innovation is crucial in addressing climate risk. This study focuses on the electricity elements as the research object, and examines the impact of climate risk on energy-saving technology innovation by constructing a Spatial Durbin Model, using 2007–2021 data on temperature and electricity-saving technology patents at the prefecture-level cities in China. The findings reveal that climate risk promotes energy-saving technology innovation. Furthermore, it is discovered that climate risk exhibits significant positive spillover effects on energy-saving technology innovation through the decomposition of spatial effects, implying that the climate risk in neighboring areas has a notable positive influence on local energy-saving technology innovation. Mechanism tests indicate that climate risk directly promotes regional energy-saving technology innovation through increasing energy consumption, research and development (R&D) investment, and strengthening government environmental regulation. Particularly under the influence of climate risk, the increase in energy consumption and R&D investment more effectively drives regional energy-saving technology innovation. Moreover, variances in cities' geographical locations, carbon emission levels, electricity price levels, and electricity resource endowments result in substantial discrepancies in the effect of climate risk on energy-saving technology innovation. Based on these findings, Governments could incorporate climate risk into synergistic regional planning and enhance energy-saving technology innovation to address climate risk.

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气候风险与节能技术创新：来自中国地级市的证据

面对气候风险带来的能源和环境问题的挑战，积极推动节能技术创新是应对气候风险的关键。本研究以电力要素为研究对象，利用 2007-2021 年中国地级市气温和节电技术专利数据，通过构建空间杜宾模型，研究气候风险对节能技术创新的影响。研究结果表明，气候风险会促进节能技术创新。此外，通过空间效应的分解发现，气候风险对节能技术创新具有显著的正溢出效应，这意味着邻近地区的气候风险对当地的节能技术创新具有显著的正向影响。机制检验表明，气候风险通过增加能源消耗、研发投资和加强政府环境监管直接促进了地区节能技术创新。特别是在气候风险的影响下，能源消费和研发投资的增加更有效地推动了区域节能技术创新。此外，城市地理位置、碳排放水平、电价水平和电力资源禀赋的差异导致气候风险对节能技术创新的影响存在很大差异。基于上述结论，各国政府可将气候风险纳入区域协同规划，加强节能技术创新以应对气候风险。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Energy Economics ECONOMICS-

CiteScore

18.60

自引率

12.50%

发文量

524

期刊介绍： Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.