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Developing energy from renewable sources and modernizing the energy system are critical components of China's efforts to combat climate change. Policymakers and authorities have made significant attempts to bring them. However, one of the major impediments to China's energy revolution is financial limitations, which are inextricably linked to the country's economic growth. The present research paper intends to investigate the relationship between economic growth and sustainable financial development on the use of energy from renewable sources in both the short and long run in the context of China. To achieve this, the researchers have utilized the panel data consisting of 10 years from 2011 to 2020. When compared to cross-sectional and time-series data samples, the panel data model offers many benefits. For starters, the panel data includes information on the passage of time and the cross-sectional area. Another benefit of using panel-data models with a larger degree of freedom is that they provide more stable and reliable estimates across short periods across cross-sections. In the case of the short run, there is a positive relationship between economic and financial development and the use of energy from renewable sources in the context of all of China. While in the case of long-term effects, the results indicate the adverse impact of financial development on the use of energy from renewable sources in the western regions of China. These results were deduced using the causality test Granger proposed to determine the path of the causal relationship and the direction of the relationship between the variables. These results indicated that the relationship between economic and financial development in east China was unidirectional, and the nature of the underlying relationship was causal. Meanwhile, in east and west China, economic development in China as a whole has been unidirectionally increasing energy from renewable sources. Our empirical findings suggest many strategies for promoting the growth of energy from renewable sources. [ABSTRACT FROM AUTHOR]

The present research aims to conduct a systemic review on Renewable Energy, Economic Growth and Economic Development and look for links between the papers published between 2008 and May 2021. Using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) methodology, it was possible to reach a sample of 111 articles selected by Web of Science and a sample of 199 academic articles selected by Scopus in that specific period. The analysis of the group of Renewable and Non-renewable Energy Consumption, Economic Growth and Economic Development shows that most of the articles published in this subsample use the quantitative methodology in economic sciences. The results indicate that research on the subject has a growing trend and that most of the articles are post-2015 publications. In addition, China has been the leading nation in published works. The journal Renewable and Sustainable Energy Reviews is considered the most relevant in this category, and Sustainability has the most publications. Finally, a research gap was identified to be explored, lacking studies aimed at understanding the consumption of renewable energies and economic development and studies that focus on renewable energies and economic growth in less developed economies. [ABSTRACT FROM AUTHOR]