1. The Janus‐Faced Role of Renewable Energy Development in Global Carbon Reduction Under Renewable Energy Policies.
- Author
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Chen, Yang, Hong, Jingke, Wen, Quan, Yi, Wen, and Zheng, Saina
- Subjects
ENERGY development ,RENEWABLE energy sources ,ENERGY policy ,CARBON emissions ,ENERGY infrastructure ,CARBON offsetting - Abstract
The global‐scale empirical analysis of how renewable energy policies (REPs) affect carbon emissions and the mediating role of renewable energy development (RED) in this mechanism remains underexplored. To fill this research gap, we extracted and organized REPs data from IEA's databases for 135 countries until 2018 and conducted empirical analyses of these issues. We find that: (a) REPs significantly reduce global carbon emissions, especially through regulatory, economic, and R&D policies. (b) REPs' effectiveness in mitigating carbon emissions is enhanced by robust energy infrastructure, strong control of corruption, and adherence to the rule of law. Besides, the balance of REPs types does not influence their efficiency, but REPs prioritizing certain renewable energy (RE) types aligns better with carbon reduction goals. (c) RED displays a Janus‐faced influence on REPs' carbon reduction effect—renewable energy consumption (REC) positively mediates it, whereas renewable energy share (RES) exerts a negative mediation. Specifically, REC consistently reduces carbon emissions, while RES initially increases and then decreases carbon emissions, exhibiting an inverted U‐shape. (d) The initial rise in carbon emissions with RES is due to the low substitution of RE for fossil energy and the country‐specific heterogeneity in organizational, geographic, industrial, economic, demographic, and temporal factors. Plain Language Summary: This study looked at how renewable energy policies (REPs) help lower carbon emissions worldwide and the role of renewable energy development (RED) in this process. We used data from the International Energy Agency on 135 countries up to 2018. Our findings show that REPs are effective in reducing carbon emissions, particularly through laws, economic incentives, and research and development. The success of these policies is better in countries with strong energy infrastructure, good governance, and rule of law. Interestingly, not all types of REPs are equally effective; those focusing on specific types of renewable energy (RE) align more closely with carbon reduction goals. We also discovered a dual role of RED in this scenario. While the use of RE helps lower emissions, just increasing the share of RE in the overall energy mix can initially lead to more emissions before eventually decreasing them. This increase at first happens because RE doesn't immediately replace fossil fuels and because countries are different in terms of their organization, geography, industry, economy, population, and changes over time. Key Points: Renewable energy policies (REPs) cut global carbon emissions, mainly via regulatory, economic, and R&D policiesREPs' carbon reduction boosted by robust infrastructure, anti‐corruption, and law adherenceRenewable energy development has a Janus‐faced impact on REPs' carbon reduction effect [ABSTRACT FROM AUTHOR]
- Published
- 2024
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