A Roadmap toward Achieving Sustainable Environment: Evaluating the Impact of Technological Innovation and Globalization on Load Capacity Factor

Abraham Awosusi, Kaan Kutlay, Mehmet Altuntaş, Bakhtiyor Khodjiev, Ephraim Bonah Agyekum, Mokhtar Shouran, Mohamed Elgbaily and Salah Kamel
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Kaan Kutlay: Vocational School of Health Service, European University of Lefke, Northern Cyprus, Mersin 99770, Turkey
Mehmet Altuntaş: Department of Economics, Faculty of Economics, Administrative and Social Sciences, Nisantasi University, Istanbul 34000, Turkey
Bakhtiyor Khodjiev: Department of Fundamental Economics, Tashkent State University of Economics, Tashkent 100009, Uzbekistan
Ephraim Bonah Agyekum: Department of Nuclear and Renewable Energy, Ural Federal University Named after the First President of Russia Boris Yeltsin, 19 Mira Street, 620002 Ekaterinburg, Russia
Mokhtar Shouran: Wolfson Centre for Magnetics, School of Engineering, Cardiff University, Cardiff CF24 3AA, UK
Mohamed Elgbaily: Wolfson Centre for Magnetics, School of Engineering, Cardiff University, Cardiff CF24 3AA, UK
Salah Kamel: Department of Electrical Engineering, Faculty of Energy Engineering, Aswan University, Aswan 81528, Egypt

IJERPH, 2022, vol. 19, issue 6, 1-16

Abstract: Technological innovations have been a matter of contention, and their environmental consequences remain unresolved. Moreover, studies have extensively evaluated environmental challenges using metrics such as nitrogen oxide emissions, sulfur dioxide, carbon emissions, and ecological footprint. The environment has the supply and demand aspect, which is not a component of any of these indicators. By measuring biocapacity and ecological footprint, the load capacity factor follows a certain ecological threshold, allowing for a thorough study on environmental deterioration. With the reduction in load capacity factor, the environmental deterioration increases. In the context of the environment, the interaction between technological innovation and load capacity covers the demand and supply side of the environment. In light of this, employing the dataset ranging from 1980 to 2017 for the case of South Africa, the bound cointegration test in conjunction with the critical value of Kripfganz and Schneider showed cointegration in the model. The study also employed the ARDL, whose outcome revealed that nonrenewable energy usage and economic growth contribute to environmental deterioration, whereas technological innovation and globalization improve the quality of the environment. This study validated the hypothesis of the environmental Kuznets curve for South Africa, as the short-term coefficient value was lower than the long-term elasticity. Furthermore, using the frequency-domain causality test revealed that globalization and economic growth predict load capacity in the long term, and nonrenewable energy predicts load capacity factors in the long and medium term. In addition, technological innovation predicts load capacity factors in the short and long term. Based on the findings, we propose that policymakers should focus their efforts on increasing funding for the research and development of green technologies.

Keywords: load capacity factor; technological innovation; economic growth; nonrenewable energy usage and globalization (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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