Soaring: A Journal of Undergraduate Research
Abstract
This study assesses the impact of renewable energy consumption on economic growth using a global panel dataset of 136 advanced and emerging and developing economies. Drawing on classifications from the International Monetary Fund, it employs econometric modeling to analyze the long-term effects of renewable energy consumption on economic output and development, while also examining how returns differ based on a country's level of economic development. The results indicate that while renewable energy consumption initially incurs costs for all economies, emerging and developing economies generally experience more moderate returns compared to advanced economies, which ultimately realize greater economic benefits in the long run. These findings highlight the importance of structural and developmental factors in shaping the economic effectiveness of renewable energy transitions. Consequently, the study offers valuable insights for national and transnational policymakers aiming to optimize investments in renewable energy to maximize economic gains.
Keywords
Renewable Energy, Economic Growth, Panel Data Analysis, Advanced and Emerging Economies
Recommended Citation
Campbell, Ryan A.
(2025)
"Renewable Energy and Economic Growth: Evidence from a Global Panel Data Analysis of Advanced and Emerging Economies,"
Soaring: A Journal of Undergraduate Research: Vol. 2025, Article 2.
Available at:
https://fisherpub.sjf.edu/soaring/vol2025/iss1/2