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Factors Affecting the Rise of Renewable Energy in the U.S.: Concern over Environmental Quality or Rising Unemployment?
- Source :
- Energy Journal; Apr2015, Vol. 36 Issue 2, p97-115, 19p
- Publication Year :
- 2015
-
Abstract
- This paper studies the development of renewable energy (RE) in the U.S. by examining the capacity to generate electricity from renewable sources. RE capacity exhibits a U-shaped relationship with per capita income, similar to other metrics for environmental quality (EQ). To explain this phenomenon, I consider several of the environmental Kuznets curve theories that describe the relationship between income and environmental quality (Y-EQ), including evolving property rights, increased demand for improved EQ, and changing economic composition. The results fail to provide support for the Y-EQ theories. I further consider the alternative hypothesis that increases in unemployment lead to increases in relative RE capacity, suggesting that promoting RE projects as a potential job creator is one of the main drivers of RE projects. The results imply that lagged unemployment is a significant predictor of relative RE capacity, particularly for states with a large manufacturing share of GDP. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 01956574
- Volume :
- 36
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- Energy Journal
- Publication Type :
- Academic Journal
- Accession number :
- 101903127
- Full Text :
- https://doi.org/10.5547/01956574.36.2.5