Can economic development & environmental sustainability promote renewable energy consumption in India?? Findings from novel dynamic ARDL simulations approach

Narasingha Das, Pinki Bera and Deepak Panda

Renewable Energy, 2022, vol. 189, issue C, 221-230

Abstract: One of the strategies for achieving sustainable development goals is to close the gap between environmental vulnerability and economic progress (SDGs). The significance of renewable energy in harmonizing environmental and economic conditions is becoming a touchy subject in current debates. Against this backdrop, the major objective of this paper is to assess whether economic growth and environmental sustainability can promote renewable energy consumption in the Indian economy by using ARDL and Novel Dynamic ARDL estimation techniques. The results obtained from both the methodology shows that rising efficiency in the economic growth coupled with environmental sustainability leads to an increase in renewable energy consumption. We also find, from the frequency domain causality test, that there is a unidirectional causality between renewable energy consumption and economic growth & renewable energy consumption and environmental sustainability in both the short- and long run. The former causation validating the conservation hypothesis for the Indian economy.

Keywords: Renewable energy consumption; Economic growth; Environmental sustainability; Conservation hypothesis; Novel dynamic ARDL Simulations; Frequency domain causality (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:189:y:2022:i:c:p:221-230

DOI: 10.1016/j.renene.2022.02.116

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