Exploring Investment Dynamics in Renewable Energy for Low-Carbon Economies through a Global Comparative Analysis

Abstract

The objective of this research is to meticulously examine the factors influencing investment patterns in renewable energy sources within both low-carbon and high-carbon economies. Top of Form

In order to confront these challenges, we proposed a dynamic panel analysis focusing on renewable investment across a representative sample of 29 countries. The findings reveal a comparable dynamic in renewable energy investments across both panels, with dependencies on factors such as nuclear power generation, GDP, and technological efficiency. Top of Form

The empirical results underscore a collective commitment among nations to diminish their environmental footprint, as evidenced by a discernible reduction in CO2 intensity. This strategic shift aligns with the global imperative to foster sustainable practices and underscores a conscientious endeavor to transition towards cleaner, renewable energy sources. This trend not only reflects a growing environmental consciousness but also signifies a proactive response to the imperative of fostering a low-carbon future. Top of Form

Derived from the estimation results, our analysis suggests that achieving energy sustainability hinges on the strategic utilization of renewable resources. This strategic integration can effectively complement existing nuclear technology, provided that both sources transcend their respective limits. This nuanced approach advocates for a balanced and diversified energy portfolio, emphasizing the synergistic potential of renewables and nuclear technology in exceeding their individual capacities.