Energy Transition: Analysing the Impact of Renewable Energies on the Environment in Morocco
摘要
Energy has always been an indispensable economic asset to keep the wheels of the economy turning. However, considering the myriad issues and challenges arising from the insecure supply of fossil fuels over the past eight decades, along with the significant repercussions of their utilization across various domains, particularly in the realms of economics and the environment, the objective of this study is to examine the existence and nature of the relationship between CO2 emissions and energy production. An econometric analysis will be conducted using a time series database spanning 23 years from 1995 to 2017. CO2 emissions will serve as a proxy for environmental quality and will be regressed against a set of variables, encompassing clean energy sources such as solar, hydro, wind and thermal energy. The variables ‘clean energy’ and ‘fossil energy’ will act as proxies for assessing the dynamics of the energy transition. The primary objective is to explore potential relationships among these variables and ascertain the nature of these relationships through the application of the Vector Error Correction Model (VECM). Our findings reveal the following patterns: over the long term, Gross Domestic Product (GDP) exhibits a negative impact on CO2 emissions. This observation aligns with the positive correlation implied by the studies cited in the literature review, wherein an increase in GDP corresponds to a rise in CO2 emissions. This correlation also holds true for fossil fuel production, the primary source of Greenhouse Gas (GHG) emissions. Conversely, population growth is associated with a reduction in CO2 emissions. This phenomenon can be interpreted as an indication that as the population expands, there is an increasing awareness of the detrimental effects of imprudent and excessive energy consumption on both individuals and the environment.