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Green growth in oil producing African countries: a panel data analysis of renewable energy demand

Green growth in oil producing African countries: a panel data analysis of renewable energy demand
Green growth in oil producing African countries: a panel data analysis of renewable energy demand
Renewable energy has been considered as the solution to the hydra-headed problems of energy security, energy access and climate change, especially in Africa. In addition, renewable energy sources, such as the sun, wind, wave and waste abound in Africa are in need of investment. In order to provide both policy and investment guide, this study investigates the drivers of renewable energy demand in oil-producing African countries. Three panel data models – a random effect model, a fixed effects model and a dynamic panel data model – are used to estimate renewable energy demand with a comprehensive set of determinants. The estimation results indicate that the main drivers of renewable energy in oil-producing African countries are real income per capita, energy resource depletion per capita, carbon emissions per capita and energy prices. The study recommends that policies should encourage the consumption of commercial sources of renewable energy to attract the needed investments.
Renewable energy demand, Energy access, Panel data analysis, Economic growth
1364-0321
1157-1166
Ackah, Ishmael
27f36928-7e21-424b-937f-77949cab7e94
Kizys, Renatas
9d3a6c5f-075a-44f9-a1de-32315b821978
Ackah, Ishmael
27f36928-7e21-424b-937f-77949cab7e94
Kizys, Renatas
9d3a6c5f-075a-44f9-a1de-32315b821978

Ackah, Ishmael and Kizys, Renatas (2015) Green growth in oil producing African countries: a panel data analysis of renewable energy demand. Renewable and Sustainable Energy Reviews, 50, 1157-1166. (doi:10.1016/j.rser.2015.05.030).

Record type: Article

Abstract

Renewable energy has been considered as the solution to the hydra-headed problems of energy security, energy access and climate change, especially in Africa. In addition, renewable energy sources, such as the sun, wind, wave and waste abound in Africa are in need of investment. In order to provide both policy and investment guide, this study investigates the drivers of renewable energy demand in oil-producing African countries. Three panel data models – a random effect model, a fixed effects model and a dynamic panel data model – are used to estimate renewable energy demand with a comprehensive set of determinants. The estimation results indicate that the main drivers of renewable energy in oil-producing African countries are real income per capita, energy resource depletion per capita, carbon emissions per capita and energy prices. The study recommends that policies should encourage the consumption of commercial sources of renewable energy to attract the needed investments.

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More information

Accepted/In Press date: 9 May 2015
e-pub ahead of print date: 9 June 2015
Keywords: Renewable energy demand, Energy access, Panel data analysis, Economic growth

Identifiers

Local EPrints ID: 434023
URI: http://eprints.soton.ac.uk/id/eprint/434023
ISSN: 1364-0321
PURE UUID: bf8a2897-ae73-48e9-9c51-d60a94b9e4eb
ORCID for Renatas Kizys: ORCID iD orcid.org/0000-0001-9104-1809

Catalogue record

Date deposited: 11 Sep 2019 16:30
Last modified: 27 Jan 2020 13:59

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