Heterogeneous role of renewable energy consumption in economic growth and emissions reduction: evidence from a panel quantile regression

This paper focuses on the heterogeneity of renewable energy consumption and economic growth and emissions by using panel quantile regression models and based on the data from 33 countries during the period of 1990-2016. The approach in this paper is to consider the heterogeneity of the distribution, and results reveal a long-term equilibrium relationship among renewable energy consumption, economic growth and emissions. The role of renewable energy consumption in economic growth and emissions is heterogeneous, and the relationship between renewable energy consumption and economic growth is W-shaped. The relationship between renewable energy consumption and emissions has an inverted N-shape, and the relationship between non-renewable energy consumption and emission is a root-shaped curve. This paper supports the growth hypothesis and EKC. In addition, the energy consumption structure should be changed, and the use of renewable energy should be encouraged. This policy not only meets energy and economic growth demands but also improves environmental quality. In addition, countries with different levels of economic growth and emissions should adopt different policies instead of using the same policy.