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The Impact of Renewable Energy Consumption to Economic Welfare: A Panel Data Application

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  • Roula Inglesi-Lotz

    (Department of Economics, University of Pretoria, South Africa)

Abstract

Internationally, the importance of renewable energy in the energy mix has been increasingly appreciated. The advantages of the renewable energy usage for the world’s energy security and the environment are indisputable and much discussed in the literature. However, its effects on the economic welfare of the countries are yet to be examined fully and described properly. The purpose of this paper is to estimate the impact of the renewable energy consumption to economic welfare by employing panel data techniques. The results show that the influence of renewable energy consumption or its share to the total energy mix to economic growth is positive and statistically significant. From a policy point of view, promoting renewable energies bears benefits not only for the environment but also for the economic conditions of the countries.

Suggested Citation

  • Roula Inglesi-Lotz, 2013. "The Impact of Renewable Energy Consumption to Economic Welfare: A Panel Data Application," Working Papers 201315, University of Pretoria, Department of Economics.
    • Handle: RePEc:pre:wpaper:201315
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    References listed on IDEAS

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    1. Inglesi-Lotz, R. & Blignaut, J.N., 2012. "Electricity intensities of the OECD and South Africa: A comparison," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(7), pages 4491-4499.
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    Cited by:

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    2. Nurcan Kilinc-Ata, 2018. "Assessing the Future of Renewable Energy Consumption for United Kingdom, Turkey and Nigeria," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 12(4), pages 62-77.
    3. Osiolo, Helen Hoka, 2021. "Impact of cost, returns and investments: Towards renewable energy generation in Sub-Saharan Africa," Renewable Energy, Elsevier, vol. 180(C), pages 756-772.
    4. Merven, Bruno & Hartley, Faaiqa & Arndt, Channing, 2019. "Quantifying the Macro- and Socio-Economic Benefits of a Transition to Renewable Energy in South Africa," Conference papers 333091, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    5. Shahnazi, Rouhollah & Dehghan Shabani, Zahra, 2020. "Do renewable energy production spillovers matter in the EU?," Renewable Energy, Elsevier, vol. 150(C), pages 786-796.
    6. Khobai, Hlalefang, 2018. "Renewable energy consumption and economic growth in Argentina. A multivariate co-integration analysis," MPRA Paper 85080, University Library of Munich, Germany.
    7. Adams, Samuel & Klobodu, Edem Kwame Mensah & Apio, Alfred, 2018. "Renewable and non-renewable energy, regime type and economic growth," Renewable Energy, Elsevier, vol. 125(C), pages 755-767.
    8. Rezana Balla, 2020. "Digitalization of Financial Services in Albania Under Restricted Measures Covid-19," European Journal of Marketing and Economics Articles, Revistia Research and Publishing, vol. 3, July -Dec.
    9. Feyyaz Zeren & Nazlıgül Gülcan & Samet Gürsoy & İbrahim Halil Ekşi & Mosab I. Tabash & Magdalena Radulescu, 2023. "The Relationship between Geothermal Energy Consumption, Foreign Direct Investment, and Economic Growth in Geothermal Consumer Countries: Evidence from Panel Fourier Causality Test," Energies, MDPI, vol. 16(3), pages 1-15, January.

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    More about this item

    Keywords

    Renewable energy; economic welfare; OECD countries; panel data analysis;
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