How does information and communication technology affect renewable energy technology innovation? International evidence

Renewable energy technology innovation (RETI) has become a key factor in mitigating climate change and promoting sustainable development of the world economy, but there is no literature on the effect of information and communication technology (ICT) on RETI and its impact mechanism. This paper measures RETI using panel data for 70 countries from 2005 to 2019 based on the combination of diffusion and depreciation effects of technological innovation and systematically examines the direct and mediating mechanisms of ICT's effect on RETI. The results show that ICT significantly contributes to RETI and even holds after addressing endogeneity, replacing the explanatory or explanatory variables, excluding extreme values, and excluding the effects of the financial crisis. The results of the transmission mechanism analysis indicate that ICT affects RETI through human capital accumulation, financial development, and information disclosure, meaning that human capital, financial development, and information disclosure are important mediating transmission mechanisms. The results of heterogeneity analysis note significant economic organizational heterogeneity and innovation environment heterogeneity of ICT to RETI. Specifically, in IEA and OECD member nations as well as in the high renewable energy consumption and high R&D investment groups, the contribution effect of ICT on RETI is more significant.

Automated summary

This study systematically examines the impact of information and communication technology (ICT) on renewable energy technology innovation (RETI) and finds that ICT significantly contributes to RETI. Human capital accumulation, financial development, and information disclosure are identified as important mediating mechanisms. Heterogeneity analysis reveals significant economic organizational and innovation environment heterogeneity in the impact of ICT on RETI.