Role of solar energy in reducing ecological footprints: An empirical analysis

The modern economic growth paradigm significantly relies on natural endowments. Solar energy as a perpetual source has the potential in reducing the ecological footprint, which has been overlooked in the empirical literature. We assess the dynamic impact of solar energy consumption on ecological footprints by applying quantile on quantile (QQ) regression in the context of the top ten solar energy-consuming countries. Our empirical analysis demonstrates that solar energy use mitigates ecological footprints at various quantiles for all sample countries except India and the United Kingdom. Overall relation is more profound at higher quantiles of solar energy and lower quantiles of ecological footprint. The bidirectional quantile Granger-causality analysis confirms a somewhat feedback effect of the ecological footprint on solar energy. Our empirical evidence emphasizes that solar energy should be integrated into the sustainable growth agenda. (c) 2021 Elsevier Ltd. All rights reserved.

Automated summary

Solar energy has the potential to reduce ecological footprints and should be integrated into the sustainable growth agenda, according to empirical analysis. However, the impact of solar energy consumption on ecological footprints varies among countries, and there is a feedback effect of ecological footprints on solar energy in some cases.