Renewable Energy, Environment and Economic Growth Nexus: An Empirical Analyses for Selected Countries

The aim of this study is to examine the long run relationships between environmental pollution, renewable energy production and economic growth in pioneer countries on renewable energy production for 1992-2013 period by using dynamic panel data methods. Cross-sectional dependence test results indicate that there is an evidence of cross-section dependence for all variables and model. The results can be summarized as follows: i) There exists a cointegration relationship between nonstationary variables. ii) Renewable energy production has negative impact on the carbon emission. iii) Real GDP per capita has positive impact on carbon emission. The increase of renewable energy production is going to contribute to the solution of economic growth-environment conflict and reduction of environmental pollution in these countries