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The Development of Renewable Energy Sources and its Significance for the Environment pp 119–146Cite as

Impact of Renewable Energy Development on Carbon Dioxide Emission Reduction

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Abstract

The increased concerns about climate change have made renewable energy sources an important topic of research. Previous studies have analyzed carbon emission savings, using renewable energy in connection with life-cycle analysis methods. It is shown that after a certain period, economic growth leads to the promotion of environmental quality. However, econometric modeling critiques have opposed the results of these studies. One reason is that the effectiveness of governance-related parameters has previously been neglected. In this research, we analyze the impact of renewable energy development on carbon emission reduction. We estimate a model to evaluate effectiveness of renewable energy development, technological innovation, and market regulations in carbon emission reduction. The empirical results are based on a panel data estimation using the EU-15 countries’ data observed from 1995 to 2010. The finding shows that the effects of a negative climate change could be mitigated by governance-related parameters instead of economic development.

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Authors and Affiliations

  1. Sogang University, Seoul, Korea, Republic of (South Korea)

    Almas Heshmati

  2. College of Engineering, Seoul National University, Seoul, Korea, Republic of (South Korea)

    Shahrouz Abolhosseini & Jörn Altmann

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  1. Almas Heshmati
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  2. Shahrouz Abolhosseini
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  3. Jörn Altmann
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Heshmati, A., Abolhosseini, S., Altmann, J. (2015). Impact of Renewable Energy Development on Carbon Dioxide Emission Reduction. In: The Development of Renewable Energy Sources and its Significance for the Environment. Springer, Singapore. https://doi.org/10.1007/978-981-287-462-7_7

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