Decarbonizing Progress: Exploring the Nexus of Renewable Energy, Digital Economy, and Economic Development in South American Countries

Overview

Journal Heliyon

Specialty Social Sciences

Date 2024 Jul 29

PMID 39071722

Authors

Wei Li

Muhammad Nadeem

Affiliations

Soon will be listed here.

Abstract

Examining the relationship between green energy, the digital economy, and economic advancement in eighteen South American nations, the study used the Principal Component Factor (PCF) approach. A Green Energy Transition Index (GETI) and a Digital Economy Index (DEI) were developed as a consequence of this study. Confirmation of the large influence of switching to green energy on economic development and environmental sustainability is provided by the research's use of Fixed Effect Panel Threshold Regression (FEPTR) analysis. In today's global industrial value chain, hydrocarbons are the main source of energy. As a result, it hastened the decarburization of the world energy system to lower the noteworthy quantities of CO2 emissions from these sources. All quantile groups' economic development is strongly impacted by the digital economy and the move to green energy, according to the Methodology of instants of quantile regression (MMQR). The only element that positively impacts environmental sustainability across all quantile groups is the switch to Green energy. Reducing CO2 emissions and increasing economic development are characteristics of the low-quantile group. While the median quantile group does see a decrease in carbon dioxide emissions, economic growth remains stagnant.

Citing Articles

Energetic and exergoeconomic evaluation of a stig cycle and cooled inlet air gas turbine powered by mixtures of natural gas and H in tropical climates.

Fajardo Cuadro J, Barreto D, Yabrudy D, Pina-Martinez A, Pupo O, Buelvas A Heliyon. 2024; 10(22):e40250.

PMID: 39641048 PMC: 11617213. DOI: 10.1016/j.heliyon.2024.e40250.

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