Renewable Energy, Economic Growth, and an Examination Related to Wind Energy: The Case of Selected OECD Countries

Saniye Irem Kirici, Hatice Yurtsever

Abstract


The investigation reveals a unidirectional causal link from economic growth to wind energy consumption, substantiating the "conservation hypothesis" in these OECD (Organisation for Economic Co-Operation and Development) economies, implying that wind energy usage incurs significant costs. Contrarily, the analysis shows no causal relationship between wind energy consumption and the value added from medium and advanced technology production, aligning with the "neutrality hypothesis. Country-specific analysis, however, indicates varied causal interactions between economic growth and wind energy consumption, as well as between wind energy consumption and the value added of medium and advanced technology production. These findings are pivotal for policymakers and researchers focusing on wind energy and related investments. The study underscores the need for policies that promote renewable energy investments, accelerate technological innovations, and increase public awareness. Such measures are crucial for enhancing the adoption of sustainable energy sources. The research provides valuable insights into the interconnectedness of economic growth, renewable energy consumption, and technology, offering strategic directions for advancing sustainable energy utilization.

Keywords


Economic Growth, Wind Energy, Renewable Energy, Sustainability

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References


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DOI (PDF): https://doi.org/10.20508/ijrer.v15i4.15077.g9144

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