Ecology

Biology

Environmental economics

Social psychology

Sustainability

Panel data

Economics

Openness to experience

Energy policy

Renewable energy credit

Feed-in tariff

Psychology

Renewable energy

Econometrics

Sustainable development

Wind power

Natural resource economics

Hydroelectricity

Biosphere

Frontiers in Energy Research

The influences of renewable and conventional energy consumption on ecological sustainability remain unclear because of the dynamic economic and innovative framework. This investigation gives a new perception by exploring the association between the production of various sources of renewable energies (e.g., hydroelectric, wind, solar PV, geothermal, and biomass power) and economic growth encapsulating capital, government spending, and trade openness. This research used a heterogeneous approach for panel data and second generational tools for econometrics, which allow for cross-sectional reliance and slope heterogeneity. This study has revealed the substantial reason to back up the feedback assumptions between renewable energy sources and economic growth, using the Dumitrescu and Hurlin analysis. In terms of policy, this empirical analysis suggests enacting impactful policies that encourage green power and economic reform in an attempt to lessen CO2 concentrations in the biosphere.

Does Renewable Energy Matter to Achieve Sustainable Development Goals? The Impact of Renewable Energy Strategies on Sustainable Economic Growth