The Role of Technological Development on Renewable Energy Usage

Abstract

The aim of this study is to determine the relationship between technological development and renewable energy use. Within this framework, G7 countries were included in the scope of the review. Data for the countries in question between 1990 and 2015 were used. In order to determine the relationship between these two variables, Pedroni panel cointegration analysis was utilized. As a result, it has been determined that technological development is very effective in the use of renewable energy. Therefore, countries need to improve themselves technologically in order to increase the use of renewable energy. It is very important to have technological infrastructure in renewable energy investments. Hence, technological investments should have the priority in order to increase the use of renewable energy. With the help of this issue, it can be more possible to be successful in this kind of investment.

Symmetric and asymmetric nexus between economic policy uncertainty, oil price, and renewable energy consumption in the United States, China, India, Japan, and South Korea: Does technological innovation influence?

“…The study documented a positive and statistically significant link between technological innovation and renewable energy (Khan et al, 2021), and Yüksel, Dinçer (Yüksel et al, 2020). Referring to short-run assessment, the study established positive connections in the United States (a coefficient of 0.0345), China (a coefficient of 0.0025), India (a coefficient of 0.1558), Japan (a coefficient of 0.0051), and South Korea (a coefficient of 0.00119).…”

Pattern recognition of financial innovation life cycle for renewable energy investments with integer code series and multiple technology S-curves based on Q-ROF DEMATEL

“…Otherwise, there is a risk that financial innovations developed by companies that do not have technological competence will not meet the needs of renewable energy investors (Shi et al 2022). Yüksel et al (2020) evaluated the relationship between technological development and renewable energy usage. They stated that priority should be given to technological development for the success of clean energy projects.…”

Establishing Regional Power Sustainability and Feasibility Using Wind Farm Land-Use Optimization

“…In other words, if there are no technological investments (mega-projects) in agriculture, manufacturing, technology, and services, the use of wind energy for housing alone is not feasible. Especially, when we want to develop the economy in a new region, technological development plans must precede the renewable energy projects [28]. If a remote region has a great potential for generating wind energy, it is then an important opportunity to create the type of technological mega-projects that will benefit from the energy infrastructure in that place.…”

“…It is logical to say that wind turbines are best located in areas where wind energy can be harvested efficiently. However, if these optimal locations are remote, planning for development and investment projects should take place before the wind farms are installed, or it would be difficult to transport energy from such locations [28].…”