Renewable Energy Contribution to Economic Growth in OECD countries
Journal Title: İzmir Sosyal Bilimler Dergisi - Year 2019, Vol 1, Issue 2
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.
Authors and Affiliations
Ramandray Felix
Keywords
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