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Is the Transition to Renewable Energy Consumption Hampered by High Oil Prices?

Author

Listed:
  • Shahriyar Mukhtarov

    (Department of Economics, Baku Engineering University, Hasan Aliyev 120, Khirdalan, Baku AZ0101, Azerbaijan,)

  • Sugra Humbatova

    (Department of Economics and Management, Azerbaijan State University of Economics (UNEC), Istiqlaliyyat Str. 6, Baku AZ1001, Azerbaijan)

  • Natig Gadim-Oglu Hajiyev

    (Department of Regulation of the Economy, Azerbaijan State University of Economics (UNEC), Istiqlaliyyat Str. 6, Baku AZ1001, Azerbaijan.)

Abstract

The article examines the impact of oil price, income and CO2 emissions on renewable energy consumption in the case of Kazakhstan for the data period from 1992 to 2015, employing FMOLS and CCR methods. Empirical results reached that there is a long-run positive and statistically significant impact of income on the renewable energy consumption whereas a negative effect of oil price and CO2 emissions in Kazakhstan, for the investigated period. The results of this article might be beneficial for the policymakers and support the current literature for next researches for oil-rich developing countries.

Suggested Citation

  • Shahriyar Mukhtarov & Sugra Humbatova & Natig Gadim-Oglu Hajiyev, 2021. "Is the Transition to Renewable Energy Consumption Hampered by High Oil Prices?," International Journal of Energy Economics and Policy, Econjournals, vol. 11(5), pages 377-380.
    • Handle: RePEc:eco:journ2:2021-05-42
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    References listed on IDEAS

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    Cited by:

    1. Mubariz Mammadli, 2023. "Factors Driving Sustainable Consumption in Azerbaijan: Comparison of Generation X, Generation Y and Generation Z," Sustainability, MDPI, vol. 15(20), pages 1-21, October.
    2. Mukhtarov, Shahriyar & Mikayilov, Jeyhun I. & Maharramov, Shahin & Aliyev, Javid & Suleymanov, Elchin, 2022. "Higher oil prices, are they good or bad for renewable energy consumption: The case of Iran?," Renewable Energy, Elsevier, vol. 186(C), pages 411-419.
    3. Ishaya Jonah Tegina Tambari & Pierre Failler & Shabbar Jaffry, 2023. "The Differential Effects of Oil Prices on the Development of Renewable Energy in Oil-Importing and Oil-Exporting Countries in Africa," Energies, MDPI, vol. 16(9), pages 1-20, April.

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    More about this item

    Keywords

    Renewable energy consumption; Income; Oil price; FMOLS; CCR; Kazakhstan;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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