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Digital finance, regional innovation environment and renewable energy technology innovation: Threshold effects

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  • Lin, Boqiang
  • Zhang, Aoxiang

Abstract

The correlation between renewable energy technology innovation (RENTI) and carbon neutrality has been studied extensively. Meanwhile, an efficient digital financial system and a favorable innovation environment are essential to promote RENTI. This paper examines the effects of digital finance and the regional innovation environment on RENTI using panel data from 31 Chinese provinces spanning 2011 to 2020. The findings demonstrate that digital finance directly promotes RENTI. The marginal effect of digital finance is more significant for eastern regions and regions with developed finance. The threshold effect analysis shows that the positive impact of digital finance on RENTI reaches a higher level when government financial support and ICT development exceed a certain threshold. In addition, appropriate levels of human capital are conducive to the positive impact of digital finance. Finally, we find that digital finance promotes local RENTI and benefits RENTI in neighboring regions. Our findings offer insights for policymakers to guide digital finance to support RENTI and optimize the innovation environment.

Suggested Citation

  • Lin, Boqiang & Zhang, Aoxiang, 2024. "Digital finance, regional innovation environment and renewable energy technology innovation: Threshold effects," Renewable Energy, Elsevier, vol. 223(C).
    • Handle: RePEc:eee:renene:v:223:y:2024:i:c:s0960148124001010
    DOI: 10.1016/j.renene.2024.120036
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    Citations

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    Cited by:

    1. Song, Yang & Zhang, Yue & Zhang, Zhipeng & Sahut, Jean-Michel, 2025. "Artificial intelligence, digital finance, and green innovation," Global Finance Journal, Elsevier, vol. 64(C).
    2. Leiru Wei & Jingxian Di & Qian Zhou, 2025. "Exploring the Pathways Through Which the Digital Economy Drives Common Prosperity in the Context of Sustainable Development," Sustainability, MDPI, vol. 17(8), pages 1-20, April.
    3. Yonghong Li & Haoyue Xie & Chang Liu, 2025. "Research on Synergy Measurement and Digital Finance Driving Mechanism of Enterprise Digital Transformation and Greening Upgrade: An Empirical Analysis Based on the Complex System Coordination Degree M," Sustainability, MDPI, vol. 17(11), pages 1-31, May.
    4. Wanteng Zheng & Zixuan Ye, 2024. "The Incentive Effect of Digital Finance on Innovation of Small- and Medium-Sized Enterprises Considering Heterogeneity: An Empirical Study Based on Chinese-Listed Firms," Sustainability, MDPI, vol. 16(19), pages 1-17, September.
    5. Zheng, Mingbo & Zhang, Xinyu, 2025. "Digitalization and renewable energy development: Analysis based on cross-country panel data," Energy, Elsevier, vol. 319(C).
    6. Doğan, Buhari & Khalfaoui, Rabeh & Bergougui, Brahim & Ghosh, Sudeshna, 2025. "Unveiling the impact of the digital economy on the interplay of energy transition, environmental transformation, and renewable energy adoption," Research in International Business and Finance, Elsevier, vol. 76(C).
    7. Lee, Chien-Chiang & Wu, Zhihang, 2025. "Developing renewable energy in the face of extreme climate: Implications of tertiarization," Energy, Elsevier, vol. 321(C).
    8. Wang, Shaofeng & Zhang, Hao, 2025. "Enhancing environmental, social, and governance performance through artificial intelligence supply chains in the energy industry: Roles of innovation, collaboration, and proactive sustainability strat," Renewable Energy, Elsevier, vol. 245(C).
    9. Fang, Yinhai & Liu, Zhihui, 2025. "Can digital finance enhance enterprise research and development innovation? The mediating role of dual consumption behavior transformation," Finance Research Letters, Elsevier, vol. 71(C).
    10. Lin, Boqiang & Zhang, Aoxiang, 2024. "Impact of government subsidies on total factor productivity of energy storage enterprises under dual-carbon targets," Energy Policy, Elsevier, vol. 187(C).
    11. Piotr F. Borowski, 2025. "Economic and Technological Challenges in Zero-Emission Strategies for Energy Companies," Energies, MDPI, vol. 18(4), pages 1-23, February.
    12. Shi, Yarong & Yang, Bo, 2025. "China's energy system building toward an era of resilience: How green fintech can empower?," International Review of Economics & Finance, Elsevier, vol. 98(C).
    13. Weng, Shimei & Song, Malin & Tao, Weiliang & Chen, Jianbao & Chen, Hao, 2025. "Breaking the inertia of urban energy systems: Does the new energy demonstration city construction improve carbon unlocking efficiency?," Renewable Energy, Elsevier, vol. 244(C).
    14. Zhang, Zhitao & Khan, Arshad Ahmad & Wang, Zonglin, 2025. "How does science and technology finance affect the renewable energy development? Evidence from China," Renewable Energy, Elsevier, vol. 243(C).
    15. Song, Hongti & Chen, Wei, 2025. "A digital blueprint for sustainability: Can digital infrastructure policies promote renewable energy innovation?," Renewable Energy, Elsevier, vol. 244(C).
    16. Linjie Tong & Qinghua Qi & Chaoyang Wang & Qian Mu, 2025. "Does Renewable Energy Technology Innovation Enhance Carbon Productivity? Evidence from China," Energies, MDPI, vol. 18(7), pages 1-25, March.
    17. Wei, Danqi & Ahmad, Fayyaz & Chandio, Abbas Ali & Khan, Irfan, 2024. "Digital financial inclusion role to promote renewable energy technology innovation in Chinese prefectural cities: Moderating role of environmental governance," Renewable Energy, Elsevier, vol. 237(PB).
    18. Li, Minyang & Lin, Boqiang, 2024. "Clean energy business expansion and financing availability: The role of government and market," Energy Policy, Elsevier, vol. 191(C).

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