Transitioning from conventional energy to clean renewable energy in G7 countries: A signed network approach

Xu Zhang, Wenting Xu, Abdul Rauf and Ilhan Ozturk

Energy, 2024, vol. 307, issue C

Abstract: The transition from conventional energy to clean renewable energy is becoming a global trend, and related issues are attracting widespread attention. Given the possible time-varying energy transition process, this paper proposes a dynamic signed network topology approach for empirical analysis, which is then applied to evaluate the transition from conventional energy to clean renewable energy in G7 countries. The research findings indicate a discrepancy between the positive and negative spillover effects of conventional and clean renewable energy consumption in G7 nations. The transition from conventional energy on clean renewable energy involves alternating positive and negative spillover effects. On average, oil exhibits a positive spillover effect on clean renewable energy consumption. However, the spillover effect of natural gas on clean renewable energy consumption presents an asymmetric relationship across the G7 countries.

Keywords: Energy transition; Network topology; Renewable energy; Conventional energy; Spillovers effects (search for similar items in EconPapers)
JEL-codes: C32 C58 F37 G15 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:307:y:2024:i:c:s0360544224024290

DOI: 10.1016/j.energy.2024.132655

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