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Many countries have their biofuel policy programs in place as part of their overall strategy to achieve sustainable development. Among biofuels, bioethanol as a promising alternative to gasoline is of substantial interest. However, there is limited availability of a sufficient quantity of bioethanol to meet demands due to bottlenecks in the present technologies to convert non-edible feedstocks, including lignocelluloses. This review article presents and critically discusses the recent advances in the pretreatment of lignocellulosic biomass, with a focus on the use of green solvents, including ionic liquids and deep eutectic solvents, followed by enzymatic saccharification using auxiliary proteins for the efficient saccharification of pretreated biomass. Different techniques used in strain improvement strategies to develop hyper-producing deregulated lignocellulolytic strains are also compared and discussed. The advanced techniques employed for fermentation of mixed sugars contained in lignocellulosic hydrolysates for maximizing bioethanol production are summarized with an emphasis on pathway and transporters engineering for xylose assimilation. Further, the integration of different steps is suggested and discussed for efficient biomass utilization and improved ethanol yields and productivity.

The evaluation of investment projects has been carried out mainly through the analysis of Discounted Cash Flow (DCF), whose financial feasibility measures have been based fundamentally on approaches such as the Net Present Value (NPV) and the Internal Rate of Return (IRR), which are widely discussed in the field of energy project valuation. Despite this, the classical methods have a limitation when perceiving relevant characteristics for decision-making in high-risk investments, such as the uncertainty of the cash flows and the quantification of risk. An alternative to the use of these methods is the technique known as Decoupled Net Present Value (DNPV), which decouples the risk associated with the project from the value of money over time. This valuation methodology was applied to a photovoltaic solar energy self-generation project in Colombia. In this study, the results obtained through the DNPV was equivalent to 2.3-fold the value obtained by means of NPV. Thus, many renewable energy projects can become undervalued since traditional methods mistakenly associated a discount rate that includes a very high risk premium and that in many occasions it is more related to the sources of financing of the project instead of representing the risk component that it has.Keywords: Decoupled net present value (DNPV), Renewable energy projects, Solar energy investmentsJEL Classifications: Q2, Q4DOI: https://doi.org/10.32479/ijeep.10577

The relationship between energy price and food price has been dominated by co-movement debate among empirical submissions. However, these are widely criticized based on economic structure and uncertain economic events. In this paper, using data spanning from January 2000 to September 2019, we applied asymmetric and partial structural change models to examine the impact of oil price on food prices in Nigeria. Results from the asymmetric model showed that positive margins in crude oil price reduce the price of food, while negative margins co-move with food price in the long-run. The story is different in the short-run, where both positive and negative changes in oil price exert positive effects on food price. Thus, margins in the oil price are a source of incentives/disincentives to stabilize food price through supply channels in Nigeria. However, results of the partial structural change regression suggest that, in isolation, oil price co-moves with food price in regimes 1 and 4 (slump in oil price), while the impact is negative during regimes 2 and 3 (stable oil price). Therefore, the paper argues that the relationship between food price and oil price depends on timely events and the structure of the economy in question, and accounting for these events (regimes) improves timely and appropriate policies on food security and price stability.Keywords: food price; oil price; asymmetry; breakpoints; partial structural change model (PSCM)JEL Classifications: C1; Q02; Q41DOI: https://doi.org/10.32479/ijeep.10299

Distribution networks in China and several other countries are predominantly neutral inefficiently grounding systems (NIGSs), and more than 80% of the faults in distribution networks are single-phase-to-ground (SPG) faults. Because of the weak fault current and imperfect monitoring equipment configurations, methods used to determine the faulty line sections with SPG faults in NIGSs are ineffective. The development and application of distribution-level phasor measurement units (PMUs) provide further comprehensive fault information for fault diagnosis in a distribution network. When an SPG fault occurs, the transient energy of the faulted line section tends to be higher than the sum of the transient energies of other line sections. In this regard, transient energy-based fault location algorithms appear to be a promising resolution. In this study, a field test plan was designed and implemented for a 10 kV distribution network. The test results demonstrate the effectiveness of the transient energy-based SPG location method in practical distribution networks.

Biofuel as an alternative fuel which in recent years has become the world's demand for renewable energy fuels and is a major factor underlying the increase in prices of agricultural commodities, especially corn as the main commodity for biofuels in the US. The purpose of this study is to examine the volatility of several world food commodities, namely rice, wheat, corn, and soybeans and to analyze the impact of biofuel development on the price volatility of some world food commodities. This research uses coefficient of variation and volatility analysis with the ARCH GARCH method. Based on the results, the price of food commodities is more volatile after the adoption of the Renewable Fuel Standard 2 (RFS) policy in 2007. The results of the study show that development of biofuels (from corn and soybeans) have a higher level of volatility than the other two commodities (rice and wheat) due to the variance of rice and wheat was lower than corn and soybeans. It means that the greater the relevance of a commodity to the development of biofuels, the higher the price volatility of the commodity. Meanwhile, the expansion of biofuels also made US reduce the amount corn and soybean exports, of course this is what makes the supply of US corn and soybeans decreased and makes the price will increase.Keywords: renewable energy, volatility, Renewable Fuel Standard (RFS) policy, commodity pricesJEL Classifications: L5, O13, O21, O44, P18DOI: https://doi.org/10.32479/ijeep.10037

This study is applied in the region of Malaysia with a prime objective to investigate whether environmental performance indicators are impacting on banking sector performance during the period 2014-2018. For this purpose, this study has considered a sample of 6 Malaysian banking firms working under the regulator of Bank Nagara Malaysia. considering the both dimension of time series and cross section, three panel models known as simple regression, fixed and random effect are statistically applied. However, correlation matrix between the variables is also presented for the better understanding. Findings through panel model shows that Eco. System vitality is adversely affecting the EBIT, in all three models, whereas environmental health is a negative indicator of EBIT. for EAT, eco system vitality is again providing the evidence for adverse influence during the study period. In addition, black carbon emission intensity is causing a decline in EAT in both simple regression and fixed effect estimator. For ZROE, environmental health, eco system vitality are negative while carbon emission intensity is positive sign. For the last indicator of banking sector performance, it is found that eco. System vitality is a negative sign causing a decline in ZROA during 2014-2018. it is suggested that there is a strong need to control the adverse impact of some of the environmental factors on the banking industry of Malaysia, where different public sector departments are held responsible. For the future studies, this study suggest considering all the banking firms, long data period and other regional economies.Keywords: environmental factors, climate change, banks, MalaysiaJEL Classifications: Q19, E5DOI: https://doi.org/10.32479/ijeep.10694

Interconnected power systems that link several countries and fully utilize their individual resources in a complementary manner are becoming increasingly important. As these systems enhance accommodation of renewable energy, they also represent a move toward low-carbon and low-emission power systems. In this paper, a low-carbon dispatch model is proposed to coordinate the generation output between several countries where the carbon emission constraint is a priority. An adjustable robust optimization approach is used to find the optimal solution under the worst-case scenario to address the uncertainties associated with renewable energy resources. A specific constraint is that the area control error for each country should be self-balanced. Furthermore, a reformation using participation factors is presented to simplify the proposed robust dispatch model. Simulation results for practical interconnected power systems in northeast Asian countries verify the effectiveness of the proposed model.

The study is aimed at investigating the environmental and economic impacts of paper consumption and computers used in the banking sector operating in Palestine. The descriptive and quantitative method has been used, and the data was annual covering the period 2016-2018. The study has found out that the total cost of using paper in banks operating in Palestine was about 3.24 million dollars since the banks consume about 658.4 tons of paper as it is necessary to produce this amount of paper to about 16 thousand pine trees, 25 million btus of energy, and 13.5 million gallons. As for the total costs of using computers in the banks operating in Palestine, they amounted to about 7.6 million US dollars, and about 122 tons of different minerals and materials are required to manufacture computers in the banks in Palestine. About 1.52 GW per year is required to operate all computers, which causes the release of greenhouse gases equivalent to the consumption of 2495 barrels of oil.Keywords: Environmental effects, Environmental costs, Paper consumption, Paper usage, Environmental Economics.JEL Classifications: B41, Q51, P18.DOI: https://doi.org/10.32479/ijeep.10375

This study tests the environmental Kuznets curve while examining the role of renewable energy sources and FDI to potentially effect the amount of CO2 emissions in Vietnam. Using Autoregressive Distributed Lag (ARDL) approach, the relationship between CO2 emissions and GDP, FDI and sources of energy consumption has been investigated during 1980–2018 in Vietnam. The results of study reveal that there is non-existence EKC for Vietnam in long run and a sign of inverted U- shape in short run in this period. The analysis also shows that the coefficient of energy consumption from hydro-power renewable sources which correlates to CO2 emissions is negative and significant while FDI leads to increasing carbon dioxide emissions in the long run. That implies Vietnam could have been benefited from a drop in CO2 emissions at some point in the early stage of the period, however, the country has been facing environmental pollution increase as GDP and FDI growth.Keywords: Environmental Kuznets Curve, Renewable energy, FDI, Vietnam.JEL Classifications: O44, Q56, Q4DOI: https://doi.org/10.32479/ijeep.10367

This study provides a review, framework and guiding principles for constructing energy consumption reduction disciplines, with examples of application to international industries. It reviews the work of agencies and governments in creating energy efficiency models that help policy makers to assess changes in energy efficiency. A possibility to reduce costs incurred in product manufacturing and energy consumption constitutes energy-efficient consumption at industrial enterprises. The study justifies the performance indicators of industrial enterprises’ power supply systems. The estimates produced indicate that the largest portion of the potential energy savings is attributed to implementation of energy-saving projects. The study was performed at a manufacturing plant in South Africa with 489 respondents. It focused on energy usage in the manufacturing sector since this sector has always been the largest contributor to the GDP of South Africa. The results indicated that the proposed framework can not only reduce energy consumption but also increase production. Keywords: energy consumption, energy efficiency, framework.JEL Classifications: N77, N67, O14, P18DOI: https://doi.org/10.32479/ijeep.8007

The industrialization levels of the countries are an indicator of development. Countries trying to increase their production in the industrial sector prefer to have access to energy in a cheap and easy way. However, economies that do not have sufficient energy reserves may be affected by the changes in energy prices since they will import the necessary energy input. Although there are many studies discussing the effects of energy or oil prices on macroeconomic variables in countries, the research based on industrial production is limited. In this study, the long-term relationship between the changes in oil prices and industrial production in the ten most oil-importing countries (China, Germany, India, Italy, Japan, Netherlands, South Korea, Spain, United Kingdom and United States) was analyzed by Pedroni, Kao and Johansen Fisher cointegration tests. According to the empirical findings of the study, it is concluded that the relationship between the industrial production of oil importing countries and oil prices is positive. This situation can be interpreted as these countries with high levels of industrialization process the crude oil and market the products they produce to foreign countries more profitably.Keywords: oil price, import, industrial production index, panel cointegration, FMOLS, DOLSJEL Classifications: O10, Q30, Q43DOI: https://doi.org/10.32479/ijeep.10439

In this study, the effect of external debt (EXD – current US$) on carbon dioxide emissions (CO2 – metric tons per capita) is examined by taking the environmental Kuznets curve (EKC) hypothesis as a basis for China. The relationships between CO2, gross domestic product per capita (GDP – constant 2010 US$), square of GDP (GD), energy consumption (EM – kg of oil equivalent per capita) and EXD is examined. The autoregressive distributed lag (ARDL) model and nonlinear ARDL model are used to examine symmetric and asymmetric relationships between the variables respectively for the period of 1978 to 2014 by including a structural break. China has had a growing EXD to support economic growth especially after the 2008 financial crisis. The results show that EXD and EM significantly and positively affect emissions (EMS). The asymmetric relationship between growth (GW) and EMS is confirmed. The EKC hypothesis is not confirmed for China. The results of the study are in line with the current economic structure of the Chinese economy. The Chinese economy is still over reliant on construction, heavy industries and real estate. Although China’s current EXD is 13% of GDP, EXD is growing because private companies and local governments continue to invest heavily in construction and real estate, and have increased borrowing from abroad to cover operational costs since the central government’s deleveraging policies have made borrowing from domestic markets more difficult.Keywords: environmental Kuznets curve; external debt; China; nonlinear ARDL; ARDLJEL Classifications: Q4, Q5, O5DOI: https://doi.org/10.32479/ijeep.10605

The research intends to analyze the connection among the global prices of crude oil and stock market of Indonesia for the period of 2010 to 2019. The international prices for crude oil attributed to the prices of West Texas Intermediary (WTI) crude oil, whereas the Indonesian stock indices were considered as stock exchange factors in Indonesia. Daily data have been examined using the causal model for LVAR. The findings of he test demonstrated that a cogent and dynamic connection exists between global crude oil prices and the composite indices of Indonesia, in the long as well as short run. The dimensions of this association seem to be positive and thus the composite index also rises (fall) unless the global price of crude oil increases (decreases). Such a result is a required factor for the government's economic policies of Indonesia as well as in the management of its investment patterns by the investors.Keywords: Crude oil, Stock market, Global pricesJEL Classifications: E3, R5DOI: https://doi.org/10.32479/ijeep.10690

Background: This study examines how carbon emissions affect life expectancy in NigeriaMethod: The Autoregressive Distributed Lag (ARDL) model was applied in the study to examine how energy consumption impact on life expectancy in Nigeria. Data was sourced from the United States (U.S) Carbon Dioxide Information Analysis Centre, the Central Bank of Nigeria (CBN) Statistical bulletin, International Energy Agency (IEA) and the World Development Indicators (WDI) for the period 1980-2017.Results: Findings showed that inter alia; carbon emissions are significant and negatively affect life expectancy. This finding implied that, on the average, carbon emissions is capable of reducing life expectancy by 0.35%.Conclusion: Based finding, the study concluded by recommending that the Nigerian government should embark on the alternative use of energy that emits lesser carbon. Thus, this will help attain the sustainable development goals of good health and well-being alongside with affordable, reliable and sustainable use of energy for all.

This article provides an overview of the energy potential of Central Asian economies and in particular, the power sector of Tajikistan, with a special emphasis on the potential usage of coal since water availability for hydropower in the region depends on seasons and is already affected by climate change. With these restrictions, coal arises as to the economic alternative and coal-fired plants are considered in the country as a tool for development and new coal-fired plants are under construction and development of new coalmines is also proposed. The objective of this article is to achieve profitable capital investment in a 250 MW coal-fired thermal power plant situated in east part of Tajikistan. In this context, the article applies a mathematical model to estimate the quantitative advantages of coal alternatives. The cost analysis of the plant was carried out on the basis of total capital investment, operating cost (i.e. coal feedstock, maintenance and labour, and cost of pumping power) and revenue. Furthermore, the article discusses the main concerns of the government of Tajikistan in sustaining its economic development, and finally, describes the future role that hydro-coal power will play in this development.Keywords: energy security, energy economics, Central AsiaJEL Classifications: 0130, Q400, Q430DOI: https://doi.org/10.32479/ijeep.10267

It is conspicuous that the mainstream financial system in the EU is transforming into a sustainable financial system by a supra/national policy and institutional framework for meeting the goals of SDGs and the targets of the Paris Agreement for climate change together with Nationally Determined Contribution. However, Botswana or Sri Lanka has no such framework. Hence, a need of the hour has arisen to evaluate the sustainable finance policies in Botswana, Sri Lanka, together with the EU seeking insights from the EU’s policy framework. Since sustainable finance is not a well-grown branch of the conventional mainstream financial system, the nature of the knowledge is produced by social constructivism based on the grounded theory and the theory is inductively developed for achieving the purpose of the research. The study found, among other things, that incorporating existing policies into the multiple ministries and affiliated institutions together with the current industry-led policy initiatives to manage ESG risks are not adequate. Hence it is recommended various insights to be taken into consideration by the policymakers to formulate a national framework for mobilizing public and private capital to meet the goals of sustainability.Keywords: Sustainable Finance, Policy framework, Paris Climate Agreement, Sustainable Development Goals, Environmental, Social & GovernanceJEL Classifications: E65, F36, F38, L51DOI: https://doi.org/10.32479/ijeep.9865

The purpose of this paper is to empirically investigate the impact of short and long-term debt policies on economic values of energy sector in Saudi Arabia. Pooled OLS Regression model is utilized to analyze eight years of energy companies’ data (2012-2019) to report the association between two measures of capital structure, namely; short-term and long-term debt policies, and firm economic value after controlling for firm size and inventory management. Empirical findings suggest that the two measures of capital structure impact negatively on firm economic value in energy industry in Saudi Arabia. The results of this study have several policy implications for financial managers, banks, investors, auditors, and stock market authority to understand why capital structure impacts the firm sustainability in a negative way.Keywords: Capital structure, firm sustainability, energy industry, Saudi Arabia.JEL Classifications: L25, H63, 86, G51DOI: https://doi.org/10.32479/ijeep.10498

As energy source, palm oil has become a serious concern for various palm oil stakeholders because it is related to the vegetable oil needs for 7.7 billion people in the world. Nagan Raya District is a central of palm oil in the western region of Aceh and inseparable from the issue of sustainability. This study is designed using quantitative approach. The data collected by self-administered questionnaire to 300 palm stakeholders. The results indicated that the social variable has strong contribution to sustain the palm oil as one of primary energy source. Also, the economic, environmental and security variables have moderate strength in sustainable palm oil. In addition, the sustainable palm oil model which is built from 20 indicators depicts that the concern of plantation companies in fostering smallholders and communities around the plantation is the strongest indicator, while the indicator of protecting endangered plant and animal species and predatory animals in the natural cycle is the weakest indicator of variables in influencing sustainable palm oil in Nagan Raya Regency.Keywords : Palm oil, sustainable model, central to Aceh's palm oil productionJEL Classifications: Q12, Q15, Q16, Q43DOI: https://doi.org/10.32479/ijeep.10697

Quantification of global sustainable energy security (ES) becomes urgent, but the concepts of ES are still not clear. Thus, this paper is originated from philosophical ES studies, in which the various concepts came from the differences in determining the observed multi-matters (energy, equipment, human, and ecosystem: EPME) and point of view to see the EPME. Therefore, this research is aimed at measuring the EPME variables, producing ES material quantities (Qes). Qes is derived after a 4-stage unification and is defined in a formula. The formula is then applied to calculate the top ten populous nations in the world from 1990 to 2015. Based on the top Qes values, the rankings are Russia (Fed.), USA, Japan, Brazil, China, Indonesia, India, Nigeria, Pakistan, and Bangladesh. The results also highlighted the Qes disparities between nations. A relationship between Qes and National Power Indicator (NPI) was also explored, indicating the ES saturation in the USA and Japan; and the macro energy-policy instability phenomenon in Nigeria. In addition, a comparison of Qes ranking to those of other scholars' results was presented. Finally, the macro sustainable energy policy implication is also highlighted.Keywords: National Energy Security, Quantification Formula, National Power, Sustainable Energy PolicyJEL Classifications: A12, C43, Q43, Q48DOI: https://doi.org/10.32479/ijeep.10245

Biodiesel and natural products derived from microalgae require a smaller land area and have higher production rates compared to plants and animals and has recently attracted considerable interest. However, biodiesel production from microalgal triacylglycerol is still far from commercial realization due to its high production cost. One way to overcome this obstacle is to improve the triacylglycerol accumulation and couple its production with other high-value compounds. Of particular interest is the sterol biosynthetic pathway with squalene as an intermediate due to its close relationship with triacylglycerol and carotenoid biosynthetic pathways. Besides, both squalene and carotenoids are isoprenoid lipids that have health benefits. Perturbation of one pathway has been suggested to affect other pathways. Three terbinafine-sensitive mutants of the green microalga Chlamydomonas reinhardtii were isolated using terbinafine, a drug that inhibits squalene epoxidase, leading to squalene accumulation. One of the mutants, tfs2, accumulated twice the amount of wild-type triacylglycerol. As well as squalene accumulation, the presence of terbinafine further increased the triacylglycerol content. The level of prenyl lipid carotenoid and chlorophyll was also more significant than that of the wild type. Growth and photosynthesis were not compromised in this mutant. This is the first study that has demonstrated a mutant screening method to improve the co-production of TAG and isoprenoid lipids in a green microalgae.

The purpose of this research is to determine the effects of the income (GDP), renewable-energy consumptions and the non-renewable energy consumptions over the (CO2) carbon dioxide emission for Indonesia by Kuznets Environmental Curve EKC) model for the time span of 1980 to 2018 period. The study uses the time series data so in order to check the order of integration of the variables, the Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) unit root test have been applied. Furthermore, the study has used the ARDL methodology to estimate the cointegration in-between the model and also for long and short-run estimates of the model. ARDL Bound test confirms the cointegration among the CO2, income, energy consumption, renewable and nonrenewable energy consumption. Long-term estimates obtained from A.R.D.L. model show that increasing renewable energy consumptions reduces degradation of the environment while increasing nonrenewable energy consumptions boosts the level of CO2 emissions. GDP has a negative while the square of GDP has a positive impact on CO2 emission levels. Moreover, the E.K.C. assumption does not hold for Indonesia because the coefficient of income and income square are opposite, and the results of current studies are consistent and unbiased. This study suggested that in order to reduce the CO2 emissions Indonesian government needs to: adopt renewable energy resources, encourage the industries to adopt clean technology and renewable energies, and raise public-awareness of healthy ways of energy-consumptions.Keywords: Renewable energy, CO2 emissions, Environmental Kuznets Curve, Autoregressive-Distributed LagJEL Classifications: O13, Q42, Q43DOI: https://doi.org/10.32479/ijeep.10780

A new alternative of electricity bill payment exists in Indonesia at present, namely prepaid systems. The system is intended to facilitate customers in electricity saving where the electricity utilization could be adjusted. In reality, however, post-paid electricity system utilization still receives great demand. As a consequence, it could not suppress electricity consumption. This research aims to learn factors inhibiting consumers to switch to prepaid electricity systems for their electricity consumption. A descriptive research carries out to answer the research problems. Sample consists of 100 people determined via a snowball sampling technique. Data collection is conducted using questionnaires and measured using Likert Scale of 1-5. Factory analysis is used as an analysis tool. The research results indicate that the main factor that becomes a barrier for electricity customers to switch to prepaid systems is habitual using factor. Switching cost factor, lack of prepaid system information, and relationship and reputation of post-paid products are the second, third, and fourth factors, respectively.Keywords: Switching barrier, electricity, prepaid, and household sectorJEL Classifications: C42, D10, M00, O30DOI: https://doi.org/10.32479/ijeep.10237

This study is aimed at investigating the asymmetric effect of oil price on inflation for Sub Saharan Africa (SSA) countries. Based on the findings from the dynamic heterogenous nonlinear panel ARDL estimation, a panel data representation of Shin et al. (2014), the long run asymmetric relationship exists between both oil price increase (op+) and decrease (op-) and inflation for these countries. Nevertheless, the oil price increase tends to exert more effect on inflation than the oil price decrease. For policy implication, the monetary authorities shall pay more attention to the increase in oil price than the oil price decrease in designing appropriate policies of price stability as the former exerts greater impact on inflation than the latter. The price stability as one of the key macroeconomic goals could be attained if these countries understand the oil price-inflation relationship and then monetary measures can be adjusted to endure the effect of oil price changes especially increase in oil price on the price level so that stability in the prices of output can be maintained.Keywords: Panel data, inflation, Asymmetry, Sub Saharan AfricaJEL Classifications: C33, E31, E3DOI: https://doi.org/10.32479/ijeep.10764

The rapid growth of the human population of the planet has led to mounting energy demands; conventional sources of energies are not enough to fulfil the energy demand. Therefore, the search for alternative sources has become the most profuse challenge. Presently, many alternatives are being studied and implemented in literature—the renewable sources which are less harmful and environmentally acceptable for future generations. The current study aims to review the renewable resources which are highly examined in the last decade by the researcher. For this purpose, two databases, web of science and Scopus, are selected to extract the data. The data selection and rejection process are following the PRISMA statement that is an authentic eligibility criterion using by researchers. After a detailed function, the final fifty-two studies are selecting for the current review. The classification of data is mainly discussing biofuels, solar energy, wind energy, and renewable electricity. Literature is also showing that fossil fuels are environmentally very harmful, and developed countries are significantly replacing the renewable energies source. Bibliometric results are showing that research collaborations are exceptionally done in U.S. and European countries. The findings of the current study are a novel concept to evaluate and review the published literature on renewable energies in the last decade.Keywords: Bibliometric Analysis, Sustainability, Renewable Energy SourcesJEL Classifications: P28, Q42, Q47DOI: https://doi.org/10.32479/ijeep.10759

This study is aimed towards assessing the role of banking development and energy consumption on economic growth in Vietnam for the period ranging from 1990 to 2019. The researcher has collected data on the variables from 1990 to 2019 related with banking development, energy consumption and economic growth. On the data collected on the specified variables, certain tests have been conducted. This research has used Stata as the statistical platform to carry out data analysis where descriptive statistics, Augmented Dickey Fuller (ADF), Bounds test, and Autoregressive Distributed Lag Model (ARDL) have been applied on the data. The results indicated that the data was non-stationary and had trend which can predict the future data. Based on this condition, ARDL test and Bounds test were applied. The results indicated that overall, the model was found to be significant. Individually, energy consumption had a significant impact in both short term and long term however, there was insignificant association among banking development and economic growth.Keywords: Banking Development, Economic Growth, Energy Consumption, GDP, VietnamJEL Classifications: Q1, O13DOI: https://doi.org/10.32479/ijeep.10689

Energy resources have now been scarce as the use of energy resources has been increased. There is a need to manage the resources as in Indonesia there has been depletion of these resources accordingly and for this there has been a proposed solution which is to go for the renewable energy resources and energy consumption. Therefore, this research sets the propositions as how factors like innovation, resource development and the imports of energy can help ensure renewable energy consumption in Indonesia for the period of 1995-2019. The independent variables for research are innovation, research & development, and energy import. The dependent variable is renewable energy consumption and the control variables are population growth and energy consumption. The analysis is obtained by using Augmented Dickey Fuller (ADF), unit root tests, co-integration tests and Autoregressive distributed time lag (ARDL) models to understand the effect in chosen time period. The results indicate that innovation, research and development have a significant impact on renewable energy consumption. However, energy import has not been significantly impacting in the short run. The research proposes significant implications for policy makers to make effective policies for R & D and for the companies to go for innovation as to use renewable energy.Keywords: Renewable energy consumption, innovation, research & development, energy import, ARDL, IndonesiaJEL Classifications: O13, B17DOI: https://doi.org/10.32479/ijeep.10715

The export of petroleum products is the base avenue and constitutes a major ingredient of the Saudi economy. It is evident that the oil prices gradually decrease year by year governed by some international uncontrollable factors. The study is based on the secondary data obtained from the website of the Saudi Arabian Monetary Authority (SAMA). The study applies the Co-efficient of variation (CV), chain based (ICB) and fixed based (IFB) index numbers, correlation, and line diagram to get variability, movement, co-movement, and sensitivity and trends of the oil prices and dependent public spending avenues. The study reveals that the Saudi government enhances the level of their public spending while the oil prices lowering year by year. There is low positive sensitivity between oil prices and public spending while a negative trend between oil prices and public spending in long run. The shocks of the oil prices affect the public spending maintaining a certain gap between the growth’s trends between of public spending and oil prices progressive order in long run. The trend reveals that the Saudi government basically focuses on education, health, and other community and social services while least on social security & welfare, and housing and community amenities services.Keywords: Oil prices, public spending, sensitivity, trend analysis, Saudi ArabiaJEL Classifications: Q40, Q41, I10, I20, I30DOI: https://doi.org/10.32479/ijeep.10601

The signing of the Paris Agreement has created a new avenue of research because it sets out a global challenge to tackle climate change by limiting global warming. The topic is of growing interest involving investigators from different scientific areas, with the focus being on the increase in the consumption of renewable energies and, consequently, on the reduction of carbon dioxide emissions. From the research, most studies use simulation models to verify whether the goals set out in the Agreement are achievable. This paper presents an analytical review of the publications in order to assess the attention and awareness focused on the Paris Agreement and, specifically, the electricity sector. For this purpose, our study uses a bibliometric analysis considering authors, the types of documents, the title of the sources, the year of publication, the institutions, the languages, the countries of origin, and related concepts. In conclusion, the study’s most frequent terms are “Paris Agreement”, “carbon”, “climate change” and “renewable energy”. It also concludes that the topic is of growing interest within academia. The results of this paper provide to energy researchers a relevant overview of the tendencies and scope of the Paris Agreement.Keywords: Paris Agreement; Electricity; Bibliometric analysisJEL Classifications: K32, O13, Q43, Q48, Q56DOI: https://doi.org/10.32479/ijeep.10276

The aim of this study is tracking the goals of national climate policies and real trends in the carbon intensity of the economies of the G20 countries. A comparative content analysis of the Intended Nationally Determined Contributions (INDC) of the G20 countries was performed. The trends of mean were built for the carbon intensity indicator of G20 countries in the period 1991-2014. The countries, which already passed the peak of the carbon intensity of the economy, were identified. The constructed models of time series of carbon intensity can be used to forecast the future dynamics of the carbon intensity of the G20 countries and to estimate the changes in the world’s hydrocarbons demand. The issues of global energy security from the perspective of energy resources exporters were discussed. Keywords: climate strategies, G20, carbon intensity, global energy security, energy transitionJEL Classifications: O33, Q42, Q47, Q48DOI: https://doi.org/10.32479/ijeep.10432

The purpose related to the current article is to investigate the impact of accounting information system (AIS) and structure of energy consumption on the carbon emission of the textile industry in Indonesia. The aim also consist upon the investigation of mediating impact of supply chain process on the links of AIS and CO2 emission, structure of energy consumption and CO2 emission. The employees related to the AIS and environment sustainability are the respondent who provide the data through questionnaires that were evaluated by the help of PLS-SEM. The results show that AIS and structure of energy consumption have positive nexus with the carbon emission of the textile industry in Indonesia. The results are show that supply chain process has positive mediation among the links of AIS and CO2 emission, structure of energy consumption and CO2 emission. The regulation developing authorities and new researchers are the users of this article who gel help while preparing the policies and also in the exploration of this area in the future.Keywords: Accounting Information System, Carbon Emission, Structure of Energy Consumption, Supply Chain ProcessJEL Classifications: Q19, E59DOI: https://doi.org/10.32479/ijeep.10693

Recently, more of the greenhouse gases emission has been seen within ASEAN countries. Basically, there are different factors that can cause greenhouse gas emissions. Some of the reasons of greenhouse emission can be industrialization, urbanization, population growth, manufacturing processes, energy consumption etc. In this research paper, the impact of urbanization, industrialization, population growth on greenhouse gases emission has been analyzed. This analysis has been done in the context of Brunei, Laos, Cambodia, Indonesia, Myanmar, Malaysia, Philippines, Vietnam, Singapore and Thailand – the ASEAN countries. The methodology used for the analysis is the bootstrap panel causality test, LM panel test of co-integration, panel unit root test of Pesaran and Shin that permit cross-sectional dependency. The outcomes of the research have proposed that hypothesis of emission of greenhouse gases is valid in Vietnam, Indonesia and Laos. However, these factors play less significant role in greenhouse gas emission in Philippines, Malaysia and Myanmar. These factors have some impact over greenhouse gas emission in Brunei, Cambodia and Singapore too. Based on the overall analysis given in the research, it can be stated that urbanization, industrialization and population growth do have an impact over the greenhouse gas emission.Keywords: Greenhouse Gas Emission, Gross Domestic Product, Urbanization, Industrialization, Population GrowthJEL Classifications: P25, O14DOI: https://doi.org/10.32479/ijeep.10688

Indonesia as a rich country with its natural resources to be one of the countries in the world to play an active role in increasing international trade flows. One of the energy which is very beneficial to human life is a natural gas. The use of this energy will meet to household needs and another important needs for industry. The data presented is a secondary data in the form of time series for 22 years, a period 1995-2017. The variables of this study are domestic consumption, exchange rate, international price, and GDP per capita of the importing country. Then, the analytical method used is Auto-regressive Distributed Lag (ARDL). The results of the analysis shown that in the short term all variables such as domestic consumption, exchange rates, natural gas prices and GDP per capita significantly influence to volume of natural gas exports. While in the long run term, the results which is the same as the short run, that is, all the independent variables such as domestic consumption, the exchange rate, international prices and GDP per capita have a significant effect on the volume of natural gas exports.Keywords: Gas consumption, Exchange rate, Natural gas, Gross domestic productJEL Classifications: E2, E6, Q4DOI: https://doi.org/10.32479/ijeep.9911

The aim of this study is to investigate if Ichimoku Cloud can serve as a technical analysis indicator to improve stock price prediction for leading US energy companies. The methodology centers on the application of the Ichimoku Cloud as a trading system. The daily stock prices of the top ten constituents of the S&P Composite 1500 Energy Index - spanning the period from 12th April, 2012 to 31st July, 2019 - were sourced for experimentation. The performance of the Ichimoku Cloud is measured using both the Sharpe and Sortino ratios to adjust for total and downside risks. The analysis is split into pre and post oil crisis to account for the drop in energy stock prices during the July 2014 - December 2015. The model is also benchmarked against the naïve buy-and-hold strategy. The capacity of the Ichimoku indicator to provide signals during strengthening trends is analyzed. Despite the drop in energy stock prices, number of trades continued to increase along with profit opportunities. The PSX stock ranked first, with the highest Sharpe ratio, Sortino ratio, and Sharpe per number of trade. As expected, a number of buying signals occurred during strengthening bullish periods. Surprisingly, various sell signals also occurred during similar strengthening bullish trends. Most of the buy and sell signals under the Ichimoku indicator occurred outside of strengthening of bullish or bearish trends. The overall findings suggest that speculators can benefit from the use of the Ichimoku Cloud in analyzing energy stock price movements. In addition, it has the potential to reduce susceptibility to changes in energy prices. Last, the strength of the trend in place needs to be captured as it served as an additional layer of information which can improve the decision making process of the trader.Keywords: Energy stocks, Price forecasts, Ichimoku Cloud, Trading PerformanceJEL Classifications: Q40, G15, G17DOI: https://doi.org/10.32479/ijeep.10260

Deep eutectic solvents (DESs) comprise ChCl/urea, in combination with water, have been considered in removing acid gases (CO2 and H2S) from biogas. The evaluation of DES for biogas upgrading at relatively high pressure (i.e., >8.0 bar) has not been reported before. The aqueous DES performance has also not been analyzed compared to conventional amines-based solvent (MEA) and ionic liquid (IL). To the best of our knowledge, this is the first study that presents the integration of DES-based biogas upgrading with a mixed refrigerant liquefaction process to facilitate the safe and economical transportation of biomethane over long distances. The biogas considered in this study consisted of 60% CH4, 39% CO2, and 1% H2S. The aqueous ChCl/urea (70 wt%) results in biomethane with ≥99.0 wt% purity and ≥97.0 wt% recovery. Then, this biomethane was liquefied with ≥90% liquefaction rate. Based on the results obtained herein, overall capital, operating, and total annualized cost savings of 2.8%, 25.82%, and 14.26% were achieved using the 70% DES-based integrated process in comparison with the MEA-based integrated process. Whereas 1.41%, 16.85%, and 8.71% capital, operating, and total annualized costs could be saved in comparison with the IL (i.e., [Bmim][PF6])-based integrated process. It could be deduced that the overall cost of the biomethane value chain can be reduced using the proposed approach.

Recent studies claim that improvements in regulations and corporate governance law in different countries are restricting accrual-based earnings management and encouraging managers to shift to real earnings management (REM). However, it is not yet clear whether audit committee directors with legal expertise are associated with higher or lower REM. Thus, this study aims to investigate the relationship between the audit committee (AC) chair’s legal expertise and REM in the energy and utilities sectors in Malaysia. The study uses a sample of all energy and utilities companies listed on Bursa Malaysia between 2013 and 2018. Ordinary least squares (OLS) regression is applied to analyse the study data. The study finds that AC chairs with legal expertise are positively and significantly associated with REM, suggesting that they have not yet ceased REM practices. The findings add to the corporate governance and earnings management literature, and inform regulators and other readers of financial reports about the monitoring role of the AC chair.Keywords: Real earnings management, audit committee chair, legal expertise, corporate governance, emerging market.JEL Classifications: M21, G34, M41, M42DOI: https://doi.org/10.32479/ijeep.10258

Understanding user’s behavior in buildings is crucial since user behavior significantly contributes to the overall building's energy consumption. Therefore, this study aims to identify a user's pro-environmental behavior, in particular, the energy conservation behavior (ECB) of university users in Kuwait. For this reason, this study creates a model whereby two variables, namely, environmental knowledge and awareness of consequences, are introduced and incorporated into the existing theory of planned behavior (TPB). The research data is acquired through questionnaires in keeping with Kuwait's social norms and culture. The extended TPB model is tested using numerical analysis problems in partial least square structural equation modeling (PLS-SEM) to investigate the following variables: energy conservation behavior, intention, subjective norm, attitude, perceived behavioral control, environmental knowledge, and awareness. Results show the indirect effects of the two above mentioned variables on conservation behavior. The results also reveal that societal pressure and cultures significantly affect the users' intention to engage in energy conservation behavior. The outcomes of this research suggest that there is a need to encourage energy conservation behavior changes in Kuwaiti academics' buildings by supporting the antecedents, as well as eliminating barriers to pro-environmental actions.Keywords: Energy Conservation, Environmental Behavior, Higher Educational Institutes, Partial Least Square Structural Equation Modelling, Theory of Planned BehaviorJEL Classifications: Q49, P36, I230, Z130DOI: https://doi.org/10.32479/ijeep.10407

India now ranks 3rd after China and USA in the Primary Energy consumption. One of the sectors which have shown a sharp increase in the domestic sector. Keeping in mind the impacts on the environment and associated expenses, reduction in energy consumption in this sector is an important domain of research. The paper aims to analyse the role of Green Marketing and its tools in affecting the Energy-saving and Green Product Buying behaviour in the Domestic Sector. The factors considered for the analysis seem to have strong correlation hence Descriptive Statistics doesn’t give a clear picture. Therefore a more advanced market research tool such as factor analysis helps in understanding the factor loadings. At the same time, an effort made is to understand whether price or Environmental Concern plays a pivotal role in buying an Energy-efficient appliance. The research proves the significance of Green marketing in influencing the buying Behaviour and Energy-saving behaviour as Respondents claim they are highly influenced by Green Packaging and Environmental Beliefs. It can also be noted that although advertising plays a good role in spreading awareness amongst respondents, it is not a significant factor to change their perception regarding the purchase of Green products. Recommendations are made to augment the extent of exploration in the study of Green marketing and its role in energy-saving behaviour. Keywords: Consumer Behaviour, Environmental Belief, Energy Saving, Green MarketingJEL Classifications: G2, M3, O4DOI: https://doi.org/10.32479/ijeep.10567

This paper presents an empirical analysis of public energy access imperative on economic growth in South Africa. The paper is motivated by current paucity of research regarding rural energy provision and economic growth in South Africa. Hence, this research adds a nuanced contribution to the literature by examining the relationship between rural and urban energy provision and economic growth in South Africa. Time series data on public electricity provision for South Africa were collected from 1998 to 2017 from the World Bank economic indicators’ data archive. After testing for unit root, a cointegration regression was conducted. Results from the statistical analysis indicate a cointegration relationship between urban and rural energy provision and economic growth in South Africa. This relationship is positive and significant – indicating that increased energy access for urban and rural dwellers is a veritable tool for stimulating economic growth. The paper’s finding is germane for public policy makers in charge of public energy provision. The paper highlights the need for improved public energy provision to rural communities. Further research is needed to examine the role of rural energy provision on the growth of informal economy in South Africa.Keywords: Public energy provision; economic growth; urban energy access; rural energy access; South Africa; energy provisionJEL Classifications: O1; O2; H4DOI: https://doi.org/10.32479/ijeep.9388

Whether there is a relationship between economic growth and energy consumption and the direction of this relationship is of great importance in energy policy decision making in countries where the state plays an active role in energy markets. If there is a relationship from energy to growth, conservative policies such as energy taxes, energy-saving, and energy prices will hurt growth. There are many studies in the literature investigating the effects of renewable and non-renewable energy consumption on the economic growth of countries. Since different data, periods, and methods were used in the studies, consensus could not be achieved. Therefore, this issue remains current and continues to be investigated. The main purpose of this study is to determine whether renewable energy consumption has a positive effect on economic growth for selected developing countries (Brazil, India, Indonesia, China, Chile, Mexico, South Africa and Turkey). Fossil energy consumption and CO2 emissions variables are also included in the model established for this purpose. GMM estimator, one of the dynamic panel data methods, was used for empirical analysis of the relationship between these variables.Keywords: renewable energy consumption, carbon emission, economic growth, Dynamic panel data, GMM methodJEL Classifications: O40, Q43, Q40DOI: https://doi.org/10.32479/ijeep.10397

To ensure the safety and stability of power grids with photovoltaic (PV) generation integration, it is necessary to predict the output performance of PV modules under varying operating conditions. In this paper, an improved artificial neural network (ANN) method is proposed to predict the electrical characteristics of a PV module by combining several neural networks under different environmental conditions. To study the dependence of the output performance on the solar irradiance and temperature, the proposed neural network model is composed of four neural networks, it called multi- neural network (MANN). Each neural network consists of three layers, in which the input is solar radiation, and the module temperature and output are five physical parameters of the single diode model. The experimental data were divided into four groups and used for training the neural networks. The electrical properties of PV modules, including I–V curves, P– V curves, and normalized root mean square error, were obtained and discussed. The effectiveness and accuracy of this method is verified by the experimental data for different types of PV modules. Compared with the traditional single-ANN (SANN) method, the proposed method shows better accuracy under different operating conditions.

This article presents a highly important and detailed techno-economic analysis of a grid-connected wind farm, considered as one of the most potential location in the south of Albania, part of Tepelena region, Mamaj village. The procedure of selection of the wind turbine type is performed by evaluating the maximum Capacity Factor (CF) among 15 different types of wind turbines applied using WAsP energy tool enabling the optimization of energy system while economic analysis uses a Monte Carlo simulation well designed on RETScreen Expert tool. This modeling framework can address some beneficial values and solution which can be used from policy makers in the country to better assess the penetration of renewable energy sources into a large scale by finding the exact selling price of electricity and correcting the latest decrease of bonus factor from 1.3 in 2019 to 1.2 in 2020, which should be adjusted by a factor of 1.4. To check the economic feasibility of this project, the parameter of net present value (NPV), internal rate of return (IRR) and simple payback period (SPB) are adjusted accordingly and the financial feasible investment zone is determined.Keywords: RES, Wind Power, Net Present Value, Internal Rate of return, Discount Rate (r), Simple Payback Period, WAsP, RETScreen ExpertJEL Classifications: Q4, Q42, Q48DOI: https://doi.org/10.32479/ijeep.10622

Nowadays most developed and some developing countries are moving to the path of "green" economy and strive to develop in the direction of sustainable development. An important aspect is the development of eco-innovations that contribute to reducing the negative impact on the environment through the creation of fundamentally new products, processes and systems with minimal use of natural resources and virtually zero environmental pollution. Such clean technologies are possible in the field of renewable energy, water resources management, "green" construction, waste reduction, etc. The vast accumulated international experience of countries that develop eco-innovations serves as a positive experience for the development of this direction in Kazakhstan. Energy efficiency and renewable energy resources should be considered as national priorities of the country, be integrated into energy and socio-economic policies, and become the basis for the development of state programs for sustainable development. Kazakhstan strives to achieve its goals for sustainable development, including improving the environmental situation in the country. This paper focuses on financial issues in eco-innovations, it represents analyses of current trends in this sphere in Kazakhstan.Keywords: eco-innovations, sustainable development, regional development, financing of ecological innovations, innovative developmentJEL Classification: O310DOI: https://doi.org/10.32479/ijeep.10762

This study aims to examine and obtain empirical evidence of the factors that influence the disclosure of carbon emissions in public listed companies in Indonesia. The factors tested include carbon performance, firm size, profitability, leverage, capital expenditure, the level of asymmetry of company information and environmental performance. The population in this study are companies listed on the Indonesia Stock Exchange. The sample selection method uses a purposive sampling method, namely sampling based on criteria: publishing annual reports and sustainability reports in 2013 - 2017 and disclosing carbon emissions explicitly. The final sample in this study were 9 companies. The results showed that company size and capital expenditure had a positive and significant effect on carbon emission disclosure. Meanwhile, profitability and leverage have a negative and significant effect. The results also showed that carbon performance, the level of information asymmetry and environmental performance did not significantly influence the disclosure of carbon emissions.Keywords: Carbon Emissions Disclosure, Carbon Performance, Environmental Disclosures, Environmental PerformanceJEL Classifications: Q51, Q56, M41DOI: https://doi.org/10.32479/ijeep.10456

In Colombia, as a historic milestone, the first long-term auction of non-conventional renewable sources was held in 2019, with the aim of the National Government to take a major step in the energy transition policy. The auction organized by the Ministerio de Minas y Energía (MME) defined the objectives, rules and type of auction. The results of the first auction indicate that eight project were selected by a pay-as-bid auction scheme, five wind and three solar projects will imitate operations at 2021accounting for 1298.8 MW. This paper presents a review of auction in various countries of South America in order to compare final prices for technology. Finally, this paper discusses perspectives for the energy sector in Colombia according to the implications of this auction. Keywords: Non-conventional Renewable Energy, Energy Policy, Auction Mechanism. JEL Classifications: O13, Q28, Q42, Q48DOI: https://doi.org/10.32479/ijeep.10010

Owing to the rapid development of microgrids (MGs) and growing applications of renewable energy resources, multiobjective optimal dispatch of MGs need to be studied in detail. In this study, a multiobjective optimal dispatch model is developed for a standalone MG composed of wind turbines, photovoltaics, diesel engine unit, load, and battery energy storage system. The economic cost, environmental concerns, and power supply consistency are expressed via subobjectives with varying priorities. Then, the analytic hierarchy process algorithm is employed to reasonably specify the weight coefficients of the subobjectives. The quantum particle swarm optimization algorithm is thereafter employed as a solution to achieve optimal dispatch of the MG. Finally, the validity of the proposed model and solution methodology are confirmed by case studies. This study provides reference for mathematical model of multiojective optimization of MG and can be widely used in current research field.

For the implementation of power market in China, medium- and long-term security checks are essential for bilateral transactions, of which the electricity quantity that constitutes the generation feasible region (GFR) is the target. However, uncertainties from load forecasting errors and transmission contingencies are threats to medium- and long-term electricity trading in terms of their influences on the GFR. In this paper, we present a graphic distortion pattern in a typical three- generator system using the Monte Carlo method and projection theory based on security constrained economic dispatch. The underlying potential risk to GFR from uncertainties is clearly visualized, and their impact characteristics are discussed. A case study on detailed GFR distortion was included to demonstrate the effectiveness of this visualization model. The result implies that a small uncertainty could distort the GFR to a remarkable extent and that different line-contingency precipitates disparate the GFR distortion patterns, thereby eliciting great emphasis on load forecasting and line reliability in electricity transactions.

Due to the shortage of fossil energy and the pollution caused by combustion of fossil fuels, the proportion of renewable energy in power systems is gradually increasing across the world. Accordingly, the capacity of power systems to accommodate renewable energy must be improved. However, integration of a large amount of renewable energy into power grids may result in network congestion. Hence, in this study, optimal transmission switching (OTS) is considered as an important method of accommodating renewable energy. It is incorporated into the operation of a power grid along with deep peak regulation of thermal power units, forming an interactive mode of coordinated operation of source and network. A stochastic unit commitment model considering deep peak regulation and OTS is established, and the role of OTS in promoting the accommodation of renewable energy is analyzed quantitatively. The results of case studies involving the IEEE 30-bus system demonstrate that OTS can enable utilization of the potential of deep peak regulation and facilitate the accommodation of renewable energy.

Over the past few decades, countries in the Association of Islamic Cooperation Organizations (OIC) have reached various levels of economic development. At present, increasing energy access is one of the goals to be achieved by ensuring affordable, reliable, sustainable and modern energy access. This study aims to measure the effectiveness of energy access based on the indicators of the seventh sustainable developmet goals (SDGs) in 50 countries that are members of the OIC during the period 2010-2017. Efficiency measurements are carried out using the Data Envelopment Analysis (DEA) method. The productivity measurement is done by using the Malmquist Productivity Index (MPI). The results showed that Yemen was the country that had the highest rate of increase with a TFP value of 1.194. While the State of Egypt was the country that experienced the largest decline with a TFP value of 0.821. On the other hand, there are differences in the level of efficiency regionally, where Muslim countries in the European continent are then followed by the countries of the West Asian region in the second position and the third position is the central African region which is superior to the region Other Africa.Keywords: Sustainable Developmet Goals, Data Envelopment Analysis, Efficiency, Energy Access, Islamic Cooperation OrganizationsJEL Classifications: O1, 05, Q4DOI: https://doi.org/10.32479/ijeep.10499

This paper focused to examine the interest-rates response specified by the Bank of Indonesia’s () to the world crude oil prices and foreign rate of interest. It examined monthly data which ranged from the period of August 2004 to November 2019. The difference equation model was employed for this estimation. The test findings indicated that there was a direct response of the rate of interest specified by to the world crude oil price and foreign rate of interest. The rate of interest retained by rose (fell) by 0.124 per cent in response to each one per cent rise (decline) in the world crude oil price. Moreover, the rate of interest rose (fall) by 0.073 per cent in response to each one per cent rise (decline) in the foreign rate of interest.Keywords: Prices of World Crude Oil, Domestic-Interest Rate, Foreign-Interest Rate, Difference Equation ModelJEL Classifications: E3, E4DOI: https://doi.org/10.32479/ijeep.10692

The main objective of this study is to empirically test whether there exist short run and long run causality between, Residential Electricity Consumption (REC), Industrial Electricity Consumption (IEC) and economic growth in Kingdom of Saudi Arabia (KSA). Time series data for this study spans from 1990 to 2019. The study adopts granger causality and co. Integration analysis to estimate a Vector Error Correction Model (VECM). Results from error correction model show that there exist long run co. integration relationship between targeted variables. In addition, VECM results indicates that, industrial electricity consumption is inelastic to the changes in electricity prices with respect to economic growth, while residential electricity consumption shows elastic relationship. Granger causality test indicates there is unidirectional relationship, running from economic growth to industrial electricity consumption, which lead to accept, proactive (conservative) hypothesis. In this case, energy conservative policy will have little or no effect on economic growth. Nevertheless, results proof acceptance of neutrality hypothesis in the case of residential electricity consumption and economic growth. The study therefore, recommends that in Saudi Arabia, policy makers should consider expanding their energy-mix alternatives, in order to cope with the future industrial electricity demand arising from increased economic growth.Keywords: electricity consumption, GDP growth, co. integration and causality.JEL Classifications: O3, O4DOI: https://doi.org/10.32479/ijeep.10488