The dynamic effects of renewable-energy and fossil-fuel technological progress on metal consumption in the electric power industry

Rui-fang He, Mei-rui Zhong and Jian-bai Huang

Resources Policy, 2021, vol. 71, issue C

Abstract: This paper used the systematic generalised method of moments (SYS-GMM) to investigate the dynamic heterogeneous effects of renewable-energy technological progress (RETP) and fossil-fuel technological progress (FFTP) on the consumption of 10 metal materials from 1996 to 2016. The findings indicate strong evidence that the technological progress of the electric power industry exhibits a strong metal consumption effect. Specifically, both RETP and FFTP significantly increase the consumption of base metals such as iron, chromium, aluminium, copper, lead, nickel and zinc, while the consumption of critical metals such as indium, neodymium and dysprosium is mainly due to RETP. Additionally, we also found that RETP is the main contributor to metal consumption in the electric power industry in countries dominated by fossil fuel electric power generation. In contrast, in the group of countries dominated by renewable energy electric power generation, RETP and FFTP work together to increase the consumption of metal materials. The dynamic heterogeneous consumption effects of different types of technological progress on different types of metals in the electric power industry provide effective policy support for national low-carbon electric power supply and metal mineral resource security strategies.

Keywords: Renewable energy; Fossil fuel; Technological progress; Metal consumption; SYS-GMM model (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:71:y:2021:i:c:s0301420721000027

DOI: 10.1016/j.resourpol.2021.101985

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