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Harnessing Renewable Energy: Exploring the Dynamic Evolution of Common Prosperity in China

Author

Listed:
  • Bo Wang

    (Zhongtai Securities Co., Ltd., Anhui Branch, Hefei 230001, China
    These authors contributed equally to this work.)

  • Xiaoxu Zhang

    (Zhongtai Securities Co., Ltd., Anhui Branch, Hefei 230001, China
    These authors contributed equally to this work.)

  • Jing Huang

    (Nicholas School of the Environment, Duke University, Durham, NC 27708, USA)

  • Yang Su

    (School of Economics and Management, Xinjiang Agricultural University, Urumqi 830052, China)

Abstract

The transition from fossil fuels to clean energy is a pivotal challenge in global climate efforts. China’s strategy emphasizes an orderly phase-out of fossil fuels, advocating for renewable energy as a sustainable alternative. This shift is integral to China’s “common prosperity” agenda, which seeks to harmonize economic growth with social equity and environmental sustainability. However, achieving this balance presents complex challenges, particularly in decoupling economic progress from traditional energy consumption patterns. This study addresses the critical need to evaluate how renewable energy contributes to common prosperity by developing a comprehensive indicator framework. By analyzing the dynamic evolution of prosperity levels across 30 Chinese provinces from 2008 to 2020, the research highlights regional disparities and identifies key areas for policy intervention. The findings underscore the importance of integrating renewable energy initiatives with social policies to enhance living standards and promote equitable economic growth. This paper provides valuable insights for policymakers and stakeholders aiming to advance sustainable development and achieve common prosperity in China, offering a foundation for more informed and effective energy and economic policies.

Suggested Citation

  • Bo Wang & Xiaoxu Zhang & Jing Huang & Yang Su, 2024. "Harnessing Renewable Energy: Exploring the Dynamic Evolution of Common Prosperity in China," Sustainability, MDPI, vol. 16(23), pages 1-21, November.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:23:p:10423-:d:1531764
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    References listed on IDEAS

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