Oil prices and the renewable energy transition: Empirical evidence from China

IF 3.8 3区经济学 Q3 ENERGY & FUELS

Utilities Policy Pub Date : 2024-09-28 DOI:10.1016/j.jup.2024.101840

引用次数: 0

Abstract

This paper explores the effect of oil price, gross domestic product (GDP), and carbon dioxide (CO2) emissions on renewable energy consumption in China from 1990 to 2020, utilizing the canonical cointegrating regression (CCR) method. The findings indicate that the oil price, GDP and CO2 emissions positively and significantly affect renewable energy consumption over the examined time frame. Numerically, a 1% increase in oil prices, GDP, and CO2 emissions results in a 0.16%, 0.39%, and 1.70% increase in renewable energy consumption, respectively. The positive effect of oil prices on renewable energy consumption can be seen as the cost advantage of renewable energy, which may grow with rising oil prices, leading to a rise in its adoption. The study underscores the significance of promoting renewable energy usage, emphasizing the need for policies that aid energy security and environmental sustainability.

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石油价格与可再生能源转型：中国的经验证据

本文利用典型协整回归（CCR）方法，探讨了 1990-2020 年间油价、国内生产总值（GDP）和二氧化碳排放量对中国可再生能源消费的影响。研究结果表明，在研究时段内，油价、GDP 和二氧化碳排放量对可再生能源消费有显著的正向影响。从数值上看，油价、国内生产总值和二氧化碳排放量每增加 1%，可再生能源消费量就会分别增加 0.16%、0.39% 和 1.70%。油价对可再生能源消费的积极影响可以看作是可再生能源的成本优势，这种优势可能会随着油价的上涨而增加，从而导致可再生能源的采用率上升。这项研究强调了推广使用可再生能源的重要意义，并强调需要制定有助于能源安全和环境可持续性的政策。

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

Utilities Policy ENERGY & FUELS-ENVIRONMENTAL SCIENCES

CiteScore

6.80

自引率

10.00%

发文量

审稿时长

66 days

期刊介绍： Utilities Policy is deliberately international, interdisciplinary, and intersectoral. Articles address utility trends and issues in both developed and developing economies. Authors and reviewers come from various disciplines, including economics, political science, sociology, law, finance, accounting, management, and engineering. Areas of focus include the utility and network industries providing essential electricity, natural gas, water and wastewater, solid waste, communications, broadband, postal, and public transportation services. Utilities Policy invites submissions that apply various quantitative and qualitative methods. Contributions are welcome from both established and emerging scholars as well as accomplished practitioners. Interdisciplinary, comparative, and applied works are encouraged. Submissions to the journal should have a clear focus on governance, performance, and/or analysis of public utilities with an aim toward informing the policymaking process and providing recommendations as appropriate. Relevant topics and issues include but are not limited to industry structures and ownership, market design and dynamics, economic development, resource planning, system modeling, accounting and finance, infrastructure investment, supply and demand efficiency, strategic management and productivity, network operations and integration, supply chains, adaptation and flexibility, service-quality standards, benchmarking and metrics, benefit-cost analysis, behavior and incentives, pricing and demand response, economic and environmental regulation, regulatory performance and impact, restructuring and deregulation, and policy institutions.