Low-Carbon Energy Risk and Renewable Energy Development: Insigths from Method of Moments Quantile Regression

Feruz Kalandarov (), Samariddin Makhmudov (), Dilshad Ibadullaev (), Murodjon Matniyozov (), Farangis Nasretdinova (), Khamid Sabirov () and Nu'monkhon Bahodirov ()
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Feruz Kalandarov: Faculty of Socio-economic Sciences, Urgench State University, Urgench, 220100, Uzbekistan
Samariddin Makhmudov: Department of Economics, Mamun University, Khiva, Uzbekistan; & Alfraganus University, Tashkent, Uzbekistan; & Termez University of Economics and Service, Termez, Uzbekistan
Dilshad Ibadullaev: Department of Economics, Urgench State University, Urgench, 220100, Uzbekistan
Murodjon Matniyozov: Faculty of Socio-economic Sciences, Urgench State University, Urgench, 220100, Uzbekistan
Farangis Nasretdinova: Faculty of Socio-economic Sciences, Urgench State University, Urgench, 220100, Uzbekistan
Khamid Sabirov: Department of Economics, Urgench Ranch University of Technology, Urgench 220100, Uzbekistan
Nu'monkhon Bahodirov: Fergana Polytechnic Institute, Faculty of Mechanics and Machine Engineering, Fergana, Uzbekistan

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 3, 524-536

Abstract: The current work investigates the effect of low-carbon energy risk on renewable energy development for the first time in the literature. The annual data used in the work contains the sample of 137 countries. For the empirical estimations, Method of Moments Quantile Regression (MMQR) is applied, considering the heteroscedastic nature of the data and energy markets as well. The results provide valuable findings that a decrease in low- carbon energy risk leads to a rise in renewable energy across all the quantiles. Moreover, the results remain robust when the sample is divided into developed and developing countries, further validating theoretical linkage. Policymakers should consider the components of low-carbon energy risk in the decision-making process to enhance renewable energy development.

Keywords: Low-Carbon Energy Risk; Renewable Energy; MMQR (search for similar items in EconPapers)
Date: 2025
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DOI: 10.32479/ijeep.18882

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