Comparison of renewable energy policy evolution among the BRICs
Renewable energy policy evolution of the BRICs is analyzed and assessed quantitatively based on the Bai and Perron’ s structure breaks test. Results indicate no break for time series of renewable production in Russia, while series of renewable production and consumption are characterized as segmented trend stationary processes around one or two structural breaks in Brazil, India and China. Renewable policies in Brazil and China have long-term positive effects on renewable energy production and consumption, improving the two variables’ growth rate. The time series structure change of Indian renewable energy production is complicated and the long-term impact of energy policies on renewable production is contradictory at the two breakpoints. Russian renewable policies are not working, reducing renewable energy consumption growth in the long-term. Empirical analysis suggests policy implications that China should mandate the promotion of renewable energy, develop biomass energy on the base of comparative advantage and enhance renewable energy industry chain integration.
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Volume (Year): 15 (2011)
Issue (Month): 9 ()
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