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Do the benefits outweigh the disadvantages? Exploring the role of artificial intelligence in renewable energy

Author

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  • Qin, Meng
  • Hu, Wei
  • Qi, Xinzhou
  • Chang, Tsangyao

Abstract

Probing the essential role of artificial intelligence in the energy market is crucial to improving the development of renewable energy. The research adopts the full and sub sample methodologies to identify the interrelation of artificial intelligence index (AII) and renewable energy indicator (REI) in China. From the quantitative discussions, it is shown that there are favourable and negative impacts from AII to REI, and the positive ones indicate that artificial intelligence plays an incentive role in developing renewable energy. However, this incentive role cannot permanently be established if AII's effect on REI is negative, which is mainly caused by non-renewable energy with less costs. In turn, there is a favourable influence from REI to AII during COVID-19, highlighting that the downturn in renewable energy and stock markets caused by this epidemic impedes the progress of artificial intelligence in China. In the context of a new round of scientific and technological revolution and industrial transformation, the research would offer meaningful recommendations to facilitate the development of artificial intelligence, accelerate the application and promotion of artificial intelligence technology in the field of renewable energy, and build efficient models, processors and data centres through shifting to renewable energy.

Suggested Citation

  • Qin, Meng & Hu, Wei & Qi, Xinzhou & Chang, Tsangyao, 2024. "Do the benefits outweigh the disadvantages? Exploring the role of artificial intelligence in renewable energy," Energy Economics, Elsevier, vol. 131(C).
    • Handle: RePEc:eee:eneeco:v:131:y:2024:i:c:s0140988324001117
    DOI: 10.1016/j.eneco.2024.107403
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    Keywords

    Artificial intelligence; Renewable energy; Time-dependant interrelationship; China;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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