Assessing the Long-Term Impacts of Balancing Renewable and Non-renewable Energy Resources on Global Markets
摘要
The conversion from non-renewable to inexhaustible energy sources has become global imperative for sustainability reasons, environmental hazards, and economic resilience. By integrating an energy market equilibrium framework with panel econometric analysis, the long-run effects of balancing energy resources in global markets have been considered. The study takes the period of 2000–2020 for several countries, using approaches to estimate the equations used for dynamic relations among energy composition, economic output, emissions, and energy price. Findings consistently suggest that the more adoption of renewables brings growth in the long run, whereas maintaining reliance on non-renewables dwells negatively on economic and environmental sustainability. On energy transition paths in general, the study indicates that all regions are different and that it is important to have policies that are congruent with national capacities and levels of development. Scientists have a lot to teach policymakers, investors, and stakeholders.