Renewable energy consumption and income in emerging economies

Perry Sadorsky

Energy Policy, 2009, vol. 37, issue 10, 4021-4028

Abstract: Increased economic growth and demand for energy in emerging economies is creating an opportunity for these countries to increase their usage of renewable energy. This paper presents and estimates two empirical models of renewable energy consumption and income for a panel of emerging economies. Panel cointegration estimates show that increases in real per capita income have a positive and statistically significant impact on per capita renewable energy consumption. In the long term, a 1% increase in real income per capita increases the consumption of renewable energy per capita in emerging economies by approximately 3.5%. Long-term renewable energy per capita consumption price elasticity estimates are approximately equal to -0.70.

Keywords: Renewable; energy; Panel; cointegration; Emerging; economies (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (439)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:37:y:2009:i:10:p:4021-4028

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