Renewable energy as a solution to climate change: Insights from a comprehensive study across nations.

Abstract

Without fundamentally altering how humans generate and utilise energy, there is no effective strategy to safeguard the environment. The motivation behind this study was to analyse the effectiveness of renewable energy in addressing climate change, as it is one of the most pressing global issues. This study involved the analysis of panel data covering 138 nations over a 27 year period, from 1995 to 2021, making it the latest addition to the existing literature. We examined the extent of the impact of renewable energy on carbon dioxide over time using panel, linear, and non-linear regression approaches. The results of our analysis, revealed that the majority of countries with the exception of Canada, exhibited a downward trend, underscoring the potential of increasing renewable energy consumption as an effective method to reduce carbon dioxide emissions and combat climate change. Furthermore, to reduce emissions and combat climate change, it is advisable for nations with the highest carbon dioxide emissions to adopt and successfully transition to renewable energy sources.