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Investigating factors affecting renewable energy consumption in selected OPEC oil countries, A Panel ARDL approach

Document Type : Original Article

Authors

1 Master of Economics, Department of Economics, Faculty of Social Sciences, Economics and Entrepreneurship, Razi University, Kermanshah, Iran

2 Assistant Professor of Economics, Department of Economics, Faculty of Social Sciences, Economics and Entrepreneurship, Razi University, Kermanshah, Iran

3 Associate Professor in Economics, Department of Economics, Faculty of Social Sciences, Economics and Entrepreneurship, Razi University, Kermanshah, Iran

https://doi.org/10.34785/J025.2022.023

Abstract

The increasing demand for fossil fuels have made the world face an energy crisis. Therefore, the importance and necessity of changing the current system of energy production and consumption and replacing it with renewable energy sources to meet the global energy needs in the future is evident, and this is an issue for OPEC countries due to their high dependence on oil and gas revenues. , will become more important.
Therefore, in this study, considering the importance of renewable energy sources in the discussion of reliable and sustainable energy in the future, to investigate the effective factors of the consumption of these energy sources in OPEC countries using the Panel ARDL model, has been paid during the period of 1990-2020. The results indicate that the price of non-renewable energy has a negative effect on the production and consumption of renewable energy, which can be attributed to the fact that renewable energy is more expensive than non-renewable energy. In addition, the variables of GDP, population growth and financial development have a positive effect on the production and consumption of renewable energy; but the increase in greenhouse gas emissions has not had a significant effect on the production of these energies,

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Economic Policies and Research
Volume 1, Issue 3
November 2022
Pages 80-106
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