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Spatial impacts of green finance reform pilot zones on renewable energy technology innovation: Pathways for accelerating low-altitude economic development

Author

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  • Zhao, Xingqi
  • Jiang, Songyu
  • Gao, Jie

Abstract

The low-altitude economy, supported by renewable energy innovation, is becoming a new driver of sustainable transportation and regional development. Using data from prefecture-level cities and listed renewable energy firms, this study employs a spatial difference-in-differences (SDID) model to assess the impact of green finance reform. Results show that green finance significantly promotes the innovation of renewable energy technology through artificial intelligence, industrial upgrading, and environmental regulation, with spatial spillovers and attenuation within approximately 350 km. The effects vary across regions due to differences in economic development, resources, and human capital. Firm-level evidence further confirms that green finance improves enterprise innovation capacity by optimizing capital allocation. Policy implications include enhancing cross-regional coordination, diversifying green financial instruments, and strengthening dynamic evaluation. These findings provide theoretical insights and practical guidance for advancing renewable energy innovation and fostering the sustainable development of the low-altitude economy.

Suggested Citation

  • Zhao, Xingqi & Jiang, Songyu & Gao, Jie, 2026. "Spatial impacts of green finance reform pilot zones on renewable energy technology innovation: Pathways for accelerating low-altitude economic development," Renewable Energy, Elsevier, vol. 258(C).
    • Handle: RePEc:eee:renene:v:258:y:2026:i:c:s0960148125026874
    DOI: 10.1016/j.renene.2025.125023
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