Is renewable energy technology innovation an excellent strategy for reducing climate risk? The case of China

Congyu Zhao, Jianda Wang, Kangyin Dong () and Kun Wang

Renewable Energy, 2024, vol. 223, issue C

Abstract: In this era of global warming the importance of climate risk cannot be understated, and finding ways to reduce climate risk is a topic worthy of study. In this paper, we innovatively examine the role of renewable energy technology innovation on climate risk in China. In addition to their linear relationship, we also investigate the asymmetric and heterogeneous impact, detect the impact channels, and find that (1) increased renewable energy technology innovation can effectively alleviate the climate risk situation. Accordingly, the development of renewable energy technology innovation can make a significant contribution to CR abatement. (2) Pronounced impacts of renewable energy technology innovation on climate risk can be observed in the higher quantiles (75th and 90th) of climate risk. (3) Renewable energy technology innovation is a powerful weapon for eradicating climate risk in provinces with a higher level of government fiscal expenditure. And (4) renewable energy technology innovation has an impact on climate risk by facilitating energy consumption efficiency, which is a necessary mediator. These conclusions inspire us to put forward several corresponding policy implications for better climate risk governance and renewable energy technology innovation development.

Keywords: Renewable energy technology innovation; Climate risk; Heterogeneous analysis; Mediating effect; China (search for similar items in EconPapers)
JEL-codes: C33 O13 O32 Q54 Q55 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:223:y:2024:i:c:s0960148124001071

DOI: 10.1016/j.renene.2024.120042

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