The Effect of Energy Policy Risk on Renewable Energy

Kongratbay Sharipov (), Ilyos Abdullayev (), Bekhzod Kuziboev (), Samariddin Makhmudov (), Feruz Kalandarov (), Nigora Khaytboeva () and Zarnigor Ilkhamova ()
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Kongratbay Sharipov: Minister of Higher Education, Science and Innovation of Uzbekistan, Uzbekistan
Ilyos Abdullayev: Dean of Faculty of Socio-economic Sciences, Urgench State University, Urgench, 220100, Uzbekistan
Bekhzod Kuziboev: Department of Economics, Urgench State University, Home 14, Kh. Alimjan Str., 220100 Urgench, Uzbekistan
Samariddin Makhmudov: Department of Economics, Mamun University, Khiva, Uzbekistan; & Alfraganus University, Tashkent, Uzbekistan; & Termez University of Economics and Service, Termez, Uzbekistan
Feruz Kalandarov: Faculty of Socio-Economic Sciences, Urgench State University, Home 14, Kh. Alimjan Str, Urgench, 220100, Uzbekistan
Nigora Khaytboeva: Faculty of Socio-Economic Sciences, Urgench State University, Home 14, Kh. Alimjan Str, Urgench, 220100, Uzbekistan
Zarnigor Ilkhamova: Department of Business and Management, Urgench State University, Home 14, Kh. Alimjan Str., 220100 Urgench, Uzbekistan

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 2, 566-575

Abstract: This study explores the association among renewable energy, energy policy risk, economic development, ESG (Environmental, Social, Governance) performance and institutional quality in the panel of 137 nations from 2000 to 2022. For the econometric estimations, Method of Moments Quantile Regression (MMQR) approach is employed which is robust for the heteroscedasticity. The findings reveal that energy policy risk curbs renewable energy development which is in line with the theoretical linkage. Moreover, the robustness checks conducted by dividing the sample into developed and developing economies also validate that energy policy risk leads to a decline in renewable energy transition. Regarding control variables, economic development, ESG performance and institutional quality, their effects vary depending on the sample of countries.

Keywords: Energy Policy Risk; Renewable Energy; Environmental; Social; Governance; Economic Development (search for similar items in EconPapers)
Date: 2025
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DOI: 10.32479/ijeep.18878

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