Comparison of factors affecting the consumption of renewable energy in industrialized and developing societies

Document Type : Original Article

Authors

Sabah mohammed ridha Faisal ¹

Taghi Ebrahimi salari ²

Mozhgan Bahmani ²

¹ Department of Economics of Faculty of Economics and Administrative sciences, Mas

² ferdowsi

https://doi.org/10.22067/erd.2025.90579.1254

Abstract

Renewable energies play an important role in converting clean energy and reducing carbon emissions. Therefore, it is necessary to understand the trends and factors affecting the distribution of renewable energies and inequality between countries. Therefore, the aim of the current research is to compare the factors affecting the consumption of renewable energy in industrialized and developing societies with the new approach of panel momentary quantile regression (MMQREG) during the period of 1990-2022. The results showed that different factors have different effects on the development of clean energy in developed and developing countries. The results show that energy consumption, financial development, and carbon emissions reduce the consumption of renewable energy in developed countries. While energy consumption and financial development help the development of clean energy in developing countries. However, economic growth increases the development of clean energy in developed countries, but in developing countries, it causes a decrease in the development of green energy. In addition, the results showed that increasing globalization increases the consumption of green energy in both groups of countries. Therefore, in order to achieve the goals of carbon neutrality and sustainable development, the authorities of developed and developing countries should consider factors appropriate to each society for the development of clean energy.

Keywords

financial development

renewable energy

industrial societies

developing societies

Subjects

• Energy Economy

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