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Effects of remittances on renewable energy consumption: Evidence from instrumental variable estimation with panel data

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  • Karmaker, Shamal Chandra
  • Barai, Munim Kumar
  • Sen, Kanchan Kumar
  • Saha, Bidyut Baran

Abstract

This study investigates the impact of remittances on renewable energy consumption (REC) using a panel of 25 top remittance-receiving countries for 1990–2018. We use a generalized two-stage least squares random effect model to estimate the impact of remittance on renewable energy use. Results showed that remittances and REC have a generally positive relationship among the studied nations. Governments may create a system to incentivize remittance-receiving households to adopt and utilize more carbon-neutral energy devices at a lower cost if they pay with remittances. This approach could lead to higher societal adoption and consumption of green energy.

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  • Karmaker, Shamal Chandra & Barai, Munim Kumar & Sen, Kanchan Kumar & Saha, Bidyut Baran, 2023. "Effects of remittances on renewable energy consumption: Evidence from instrumental variable estimation with panel data," Utilities Policy, Elsevier, vol. 83(C).
    • Handle: RePEc:eee:juipol:v:83:y:2023:i:c:s0957178723001261
    DOI: 10.1016/j.jup.2023.101614
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