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The effect of renewable energy consumption on ecological footprint in N-11 countries: Evidence from Panel Quantile Regression Approach

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  • Raghutla, Chandrashekar
  • Padmagirisan, P.
  • Sakthivel, P.
  • Chittedi, Krishna Reddy
  • Mishra, Smrutisikta

Abstract

The economic and human activities have significantly damaged the environment and ecosystem. In order to smoothly restore environmental quality and retain sustainability is the only possible way to enhance the utilization of non-conventional energy resources. But, due to the scarcity of renewable energy sources, the countries significantly depend on the use of traditional energy, and as a result, the level of ecological footprint increases, which in turn results in higher carbon emission into the atmosphere. Keeping this in mind, the present research examines the impact of consumption of renewable energy on ecological footprints for nine selected N-11 countries during the period 1990–2018. The findings of both quantile regression and long-run elasticities confirm that renewable energy consumption and per capita income play a considerable role in increasing ecological footprints across the selected N-11 nations. The results of panel causality tests indicate the presence of bidirectional causality between the consumption of renewable energy and ecological footprints. The empirical results urge that the policymakers and governments of the N-11 countries by providing profitable incentives, a successful public-private partnership can invest in renewable energy projects, due to this, ultimately, moving N-11 countries towards sustainable development and reduce ecological footprints in the long run.

Suggested Citation

  • Raghutla, Chandrashekar & Padmagirisan, P. & Sakthivel, P. & Chittedi, Krishna Reddy & Mishra, Smrutisikta, 2022. "The effect of renewable energy consumption on ecological footprint in N-11 countries: Evidence from Panel Quantile Regression Approach," Renewable Energy, Elsevier, vol. 197(C), pages 125-137.
    • Handle: RePEc:eee:renene:v:197:y:2022:i:c:p:125-137
    DOI: 10.1016/j.renene.2022.07.100
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