Is the transition to renewable energy consumption hampered by high oil prices?

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Mukhtarov S., Humbatova S., Hajiyev N. G.

International Journal of Energy Economics and Policy, vol.11, no.5, pp.377-380, 2021 (Scopus) identifier

  • Publication Type: Article / Article
  • Volume: 11 Issue: 5
  • Publication Date: 2021
  • Doi Number: 10.32479/ijeep.11345
  • Journal Name: International Journal of Energy Economics and Policy
  • Journal Indexes: Scopus, ABI/INFORM, EconLit, Directory of Open Access Journals
  • Page Numbers: pp.377-380
  • Keywords: CCR, FMOLS, Income, Kazakhstan, Oil price, Renewable energy consumption
  • Azerbaijan State University of Economics (UNEC) Affiliated: Yes

Abstract

The article examines the impact of oil price, income and CO2 emissions on renewable energy consumption in the case of Kazakhstan for the data period from 1992 to 2015, employing FMOLS and CCR methods. Empirical results reached that there is a long-run positive and statistically significant impact of income on the renewable energy consumption whereas a negative effect of oil price and CO2 emissions in Kazakhstan, for the investigated period. The results of this article might be beneficial for the policymakers and support the current literature for next researches for oil-rich developing countries.