The role of digital finance for the growth of renewable energy: evidence from China

Developing renewable energy (RE) is the inevitable choice for China to achieve its climate goals. However, financing RE investments remains challenging. Meanwhile, China's digital finance (DF) is profoundly influencing the trajectory of the energy transition. This study empirically investigates the role of DF on the growth of RE, what aspects of DF matter, and its geographical attenuation process, taking both spatial and temporal dimensions into consideration. The empirical results show that DF and its coverage breadth and usage depth can facilitate RE development in both local and neighboring regions, with a comparatively limited effect of digitalization level. The impact of DF on the growth of RE is heterogeneous and has been declining over time. Specifically, this effect is observable only in the eastern regions. The spillover effects of DF on RE development vary in different spatial thresholds, which has clear boundary effects and geographical decay characteristics.

How digital finance promotes renewable energy consumption in China?

This study uses a quantitative methodology to investigate how the rise of digital money has affected efforts to increase green energy use in China. This work contributes to the body of knowledge by using a number of empirical methods, such as regression analysis, parametric quantile estimation, stability diagnostic tests, and sensitivity analysis. This study's results further demonstrate the importance of digital financing in easing the adoption of renewable energy sources throughout China. Financing alternatives for renewable energy projects have increased as a result of digital finance's integration of digital technology with financial services. A wider range of investors has been attracted through crowdfunding, peer-to-peer lending, and other alternative financing models made possible by digital platforms, allowing the development of small and medium-sized renewable energy projects that may have had trouble securing funding through more traditional channels. The impact of digital finance on energy management and optimization is also investigated. As a result, renewable energy sources have been more widely adopted due to increased energy efficiency, better grid integration, and more efficient energy delivery. This study presents substantial evidence of the beneficial benefits of digital finance on renewable energy use in China using rigorous empirical methodologies such as regression analysis, parametric quantile estimation, stability diagnostic tests, and sensitivity analysis. The results highlight the significance of using digital money to boost the use of renewable energy, lessen reliance on fossil fuels, and help create a greener, more sustainable future.

The evolution of renewable energy and its impact on employment in China: assessing the role of education

Renewable energy has an established role in improving environmental quality and economic growth. However, the nexus between renewable energy, education, and employment have yet to be disclosed in detail. Therefore, our primary focus in this analysis is to investigate the impact of renewable energy investment and education on the employment level in China. The empirical analysis is based on the novel quantile autoregressive distributed lag (QARDL) technique that can measure the estimates across quantiles. From the estimates of the QARDL model, we confer that renewable energy investment and education significantly and positively impact the employment level in China in the long run. In short-run, renewable energy investment does not have any noticeable impact on the employment level, while the rise in the education level help increases the employment rate in China. Moreover, the long-term positive impact of economic growth and information and communications technology (ICT) is more pronounced.

What really influences the development of renewable energy? A systematic review and meta-analysis

Promoting renewable energy (RE) is one key strategy to increase energy security and mitigate global warming. What really influences the development of RE has aroused public attention worldwide. Numerous studies have identified and evaluated the critical influence factors (CIFs) for renewable energy development (RED); however, there seems to be no consensus among the previous studies on these CIFs and their importance level or influence direction. Given that, this study, for the first time, conducts a systematic review and meta-analysis of the CIFs for RED. With evidence from 33,119 observations in 67 studies between 2010 and 2022, 44 CIFs distributed in political, economic, environmental, social, and technological (PEEST) dimensions were selected from an international perspective. Results demonstrate that (i) 27 CIFs with statistical significance and their rank list were identified through meta-analysis. Some of them were mentioned many times in previous studies, but their significance for RED was not very high. (ii) The top three driving factors in CIFs' significance rank list were industrial infrastructure investment, R&D, and financial development, and the top three inhibiting factors were the fossil-based energy consumption structure, policy uncertainty, and population life. (iii) The publication year, country's economy, and links of the RED value chain have a moderating effect on some CIFs' influence mechanisms. This study not only contributes to the existing RED knowledge body but also provides references to policymakers and practitioners in formulating policies and good practices to promote renewable energy.

A wind of change for soft-sediment infauna within operational offshore windfarms

In this study, "artificial reef" (AR) impacts of offshore windfarms (OWFs) on the surrounding soft-sediments were investigated. Benthic grab samples were collected at nearby (37.5 m) and distant (500 or 350 m) positions from turbines of two Belgian OWFs (Belwind: monopiles and C-Power: jackets). Higher macrobenthos abundance and species richness were found nearby jacket foundations of C-Power compared to distant positions and differences were most pronounced within deeper sediments (i.e., gullies between sandbanks) at intermediate levels of fine sand fractions (10-20%) and total organic matter (0.5-0.9%). Strong benthic enrichment (>1000 ind. m^-2, >20 spp. sample^-1) was also linked with higher fine sand fractions (>20%) near the jackets. Moreover, nearby sediments showed higher occurrences of coastal species and habitat diversification was promoted by Mytilus edulis shell debris and alive organisms ("biofouling drop-offs"). The lack of similar results around monopiles (Belwind) confirms that the extent of detectable AR-effects depends on site- and turbine specific factors.

The response of green finance toward the sustainable environment: the role of renewable energy development and institutional quality

The problem for developed and developing economies is achieving sustainable development and cleaner production. Income, institutional regulations, institutional quality, and international trade are the primary factors of environmental externalities. This research looks at 29 provinces in China between 2000 and 2020 to determine the effect of green finance, environmental regulations, income, urbanization, and waste management on renewable energy generation. Similarly, the current study uses the CUP-FM and CUP-BC for the empirical estimation. More precisely, the study shows the positive influences of environmental taxes, green finance index, income, urbanization, and waste management in renewable energy investment. However, the different measures of green finance, such as financial depth, financial stability, and financial efficiency, also positively contribute to renewable energy investment. Therefore, it can be considered the best solution to environmental sustainability. However, imperative policy implications are given to attain the peak of renewable energy investment.

Does green finance and ICT matter for sustainable development: role of government expenditure and renewable energy investment

Green financing and renewable energy growth are commonly influenced by public expenditure on health and R&D; however, data supporting this claim is scarce, especially in the 65 countries that are part of the Belt and Road Initiative (BRI). The study applied Augmented Mean Group (AMG) analysis on panel data from 2005 to 2018 for BRI nations to look at the interplay between R&D and health budgets, GDP growth, FDI, carbon emissions, green finance, and renewable energy deployment. This study uses the two models for green finance and renewable energy development. In the light of the first model, economic growth, public expenditures on health and R&D, and foreign direct investment cause to increase the level of green finance in BRI economies, while the emissions cause to reduce the level of green finance. Similarly, renewable energy development uses another explained variable by this study and found the positive contribution of growth, public expenditures, and FDI inflows to renewable energy development. In contrast, environmental pollution decreases the level of renewable energy development. In order to obtain the desired level of green finance and renewable energy development, policies are suggested by the study.

Determinants of China's renewable energy industry development: do eco-innovation and financial inclusion matter?

Fossil fuels are causing irreparable damage to the environment and lead to the depletion of reservoirs of coal, oil, and gas, which may give rise to the issue of energy scarcity and security. Therefore, policymakers and empirics have looked for alternative sources of energy that are affordable, reliable, and clean sources of energy. Consistent with this view, we have tried to examine the impact of eco-innovation and financial inclusion on renewable energy development in China. In order to empirically investigate, we have applied the autoregressive distributive lag model. The long-run estimates of eco-innovations are statistically significant and positive models, confirming that environmental-related innovations help increase the production of different renewable energy. Similarly, the long-run estimates of financial inclusion are positively significant, implying that an increase in financial inclusiveness intensifies the production of solar, biomass, and renewable energy in China. Generally, our findings imply that both eco-innovations and financial inclusion help increase renewable energy production in China in the long run.

Energy market integration and renewable energy development: Evidence from the European Union countries

Based on the panel data of 20 countries in EU during the period of 2007-2019, this paper study the effect of energy market integration (EMI) on renewable energy development (RED). We develop a general equilibrium model to explain how EMI affect the RED and the role of different mechanisms. The empirical results reports that the European EMI increased both the consumption and power generation of renewable energy, which proves a significant positive effect of EMI on the RED. In line with our expectations of theoretical model, our estimates show that the increase of renewable energy consumption is mainly due to the fossil energy cost increased, technology advancement and regional environmental regulation strengthening. And the fossil energy cost is the main driven force which plays a completely mediating role between EMI and RED. Furthermore, we also observe a negative effect of FDI and industry structure on RED.

Does the development of renewable energy promote carbon reduction? Evidence from Chinese provinces

Developing renewable energy is a crucial measure in addressing climate change and achieving carbon reduction. However, research evidence on its impact is mixed. To fill this gap, we construct a panel quantile regression model in this study to examine whether China's renewable energy development has effectively promoted a reduction in carbon emissions using panel data of 30 Chinese provinces from 2005 to 2016. The results show that: (1) Improving China's renewable energy development level is conducive to carbon emission reductions. Specifically, carbon intensity could drop by 0.084%-0.149% for every 1% increase in renewable energy generation. However, the inhibitory effect is limited due to trapped electricity as well as the fact that substituting renewable energy for fossil energy has not yet sufficiently transformed the energy consumption structure. (2) Renewable energy development has a greater impact on carbon intensity reduction in regions with high or low carbon intensity than in areas with intermediate carbon intensity. (3) The main factor in the decline in carbon intensity in China is a decrease in energy intensity. Nonetheless, the role of renewable energy in carbon reduction has increased over time.