Impact of Renewable and Non-renewable Energy on Environment: A Spatial Panel Analysis under Environmental Kuznets Curve Framework

This project aims to empirically examine the effect of renewable and non-renewable energy consumption on environmental degradation (measured as CO2 emissions). Existing literature has examined a bi-variate or multivariate relationship between energy consumption and environmental degradations (CO2) but often ignored the presence of spatial dependence. Therefore, the current study aims to apply the spatial econometric methodology on panel data consists of global countries over a long period. Additionally, the indirect (spillover) and direct effects of renewable energy consumption on CO2 emissions will be presented. The analysis will further be carried out for different regions of the world, for instance, oil-producing GCC, rich and developing countries. The policy measures will be presented to address accordingly in different regions.