Exploring the economic and non-economic determinants of investments in renewable energy

IF 9 1区工程技术 Q1 ENERGY & FUELS

Renewable Energy Pub Date : 2025-06-12 DOI:10.1016/j.renene.2025.123750

Gazi Salah Uddin , Md. Bokhtiar Hasan , Donghyun Park , Md. Sumon Ali , Christoffer Wadström

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引用次数: 0

Abstract

Amid growing concerns about climate change and fossil fuel depletion, the global shift toward sustainable energy has become increasingly urgent. Despite significant investments in renewable energy (RE), there remains a large gap in meeting global sustainability targets. This study is the first to analyze the key factors driving RE investments, using a comprehensive panel dataset of 36 countries over 21 years (2000–2020), comparing developed and developing/emerging nations. The results show that in developed countries, factors like industrial growth, environmental taxes, social globalization, and climate vulnerability drive RE investments, while inflation and political instability hinder progress. In contrast, developing countries benefit from environmental taxes, social globalization, environmental technologies, and climate vulnerability, but industrial growth and oil prices negatively impact RE investments. These differences underscore the need for tailored strategies. Quantile-based assessments further highlight variations across countries, offering a nuanced understanding of the determinants of RE investments. This research provides valuable insights for policymakers, helping to shape more effective strategies to accelerate the transition to RE and meet sustainability goals worldwide.

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探索可再生能源投资的经济和非经济决定因素

随着人们对气候变化和化石燃料枯竭的担忧日益加剧，全球向可持续能源的转变变得越来越紧迫。尽管对可再生能源（RE）进行了大量投资，但在实现全球可持续发展目标方面仍有很大差距。本研究首次分析了推动可再生能源投资的关键因素，使用了36个国家21年间（2000-2020年）的综合面板数据集，对发达国家和发展中/新兴国家进行了比较。结果表明，在发达国家，工业增长、环境税收、社会全球化和气候脆弱性等因素推动了可再生能源投资，而通货膨胀和政治不稳定则阻碍了进展。相比之下，发展中国家受益于环境税、社会全球化、环境技术和气候脆弱性，但工业增长和油价对可再生能源投资产生了负面影响。这些差异凸显了量身定制战略的必要性。基于分位数的评估进一步突出了各国之间的差异，提供了对可再生能源投资决定因素的细致理解。这项研究为政策制定者提供了有价值的见解，有助于制定更有效的战略，加快向可再生能源的过渡，实现全球的可持续发展目标。

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

Renewable Energy 工程技术-能源与燃料

CiteScore

18.40

自引率

9.20%

发文量

1955

审稿时长

6.6 months

期刊介绍： Renewable Energy journal is dedicated to advancing knowledge and disseminating insights on various topics and technologies within renewable energy systems and components. Our mission is to support researchers, engineers, economists, manufacturers, NGOs, associations, and societies in staying updated on new developments in their respective fields and applying alternative energy solutions to current practices. As an international, multidisciplinary journal in renewable energy engineering and research, we strive to be a premier peer-reviewed platform and a trusted source of original research and reviews in the field of renewable energy. Join us in our endeavor to drive innovation and progress in sustainable energy solutions.