Journal
APPLIED ENERGY
Volume 327, Issue -, Pages -Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.apenergy.2022.120056
Keywords
Research and development (R&D); Renewable energy technology; Greenhouse gas emissions; Carbon dioxide emissions; Sustainability
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This study investigates the impact of public investment in R&D in renewable energy technologies on environmental quality and addresses econometric issues using innovative panel data methods. The findings reveal that R&D investment in renewable technologies has a significant positive effect in reducing various pollutants, including carbon dioxide and methane emissions. These results have important policy implications for climate change and sustainability initiatives.
In this paper, we investigate the impact of public investment in R&D in renewable energy technologies on environmental quality using a spectrum of environmental emissions. We employ new and innovative panel data methods to address the existing econometric issues in estimating the effect of R&D on greenhouse gas emissions. Then, using data from advanced and emerging economies that span the period from 1980 to 2020, we find that R&D investment in renewable technologies has a significant positive effect on environmental quality by reducing a range of pollutants, including carbon dioxide, methane, and other pollutants. The results are robust to a series of sensitivity tests. The findings have important policy implications for climate change and various recent environmental initiatives, including the transition to net-zero emissions and sustainability.
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