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Is renewable energy technology innovation an excellent strategy for reducing climate risk? The case of China

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  • Zhao, Congyu
  • Wang, Jianda
  • Dong, Kangyin
  • Wang, Kun

Abstract

In this era of global warming the importance of climate risk cannot be understated, and finding ways to reduce climate risk is a topic worthy of study. In this paper, we innovatively examine the role of renewable energy technology innovation on climate risk in China. In addition to their linear relationship, we also investigate the asymmetric and heterogeneous impact, detect the impact channels, and find that (1) increased renewable energy technology innovation can effectively alleviate the climate risk situation. Accordingly, the development of renewable energy technology innovation can make a significant contribution to CR abatement. (2) Pronounced impacts of renewable energy technology innovation on climate risk can be observed in the higher quantiles (75th and 90th) of climate risk. (3) Renewable energy technology innovation is a powerful weapon for eradicating climate risk in provinces with a higher level of government fiscal expenditure. And (4) renewable energy technology innovation has an impact on climate risk by facilitating energy consumption efficiency, which is a necessary mediator. These conclusions inspire us to put forward several corresponding policy implications for better climate risk governance and renewable energy technology innovation development.

Suggested Citation

  • Zhao, Congyu & Wang, Jianda & Dong, Kangyin & Wang, Kun, 2024. "Is renewable energy technology innovation an excellent strategy for reducing climate risk? The case of China," Renewable Energy, Elsevier, vol. 223(C).
    • Handle: RePEc:eee:renene:v:223:y:2024:i:c:s0960148124001071
    DOI: 10.1016/j.renene.2024.120042
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    Keywords

    Renewable energy technology innovation; Climate risk; Heterogeneous analysis; Mediating effect; China;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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