Long-run substitutability between fossil and renewable energy: global evidence 1800–2012

H. Schwerin ()
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H. Schwerin: University of Kent

Empirical Economics, 2025, vol. 69, issue 1, No 4, 129-148

Abstract: Abstract This paper analyzes the economywide elasticity of substitution between fossil and renewable energy carriers using demand behavior based on longitudinal data 1800–2012. Estimates are yielded by relative price and relative quantity and show gross substitutability between energy carriers, with the central estimate being 4.33. The standard errors of the coefficient estimates of the orthogonal regression are derived using a generalized method of moments.

Keywords: Energy substitution; Fossil energy; Renewable energy; Orthogonal regression (search for similar items in EconPapers)
JEL-codes: C20 N70 Q41 Q42 Q43 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s00181-025-02739-8

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