Aspects of renewable energy influenced by natural resources: How do the stock market and technology play a role?

• Published in: Resources policy 2023-08, Vol.85, p.103820, Article 103820
• Main Authors: Yuan, Jian, Yang, Ranran, Fu, Qiang
• Format: Article
• Language: English
• Subjects: N-11 countries; Natural resources; Renewable energy; Stock market capitalization; Technology
• ISSN: 0301-4207
• DOI: 10.1016/j.resourpol.2023.103820

Subsidies for fossil fuels are one of the major financial barriers to the shift to renewable energy in the world. A sustainable and safe world is based on renewable energy, which is derived from natural resources that are abundant and continuously replenished. This study investigates the impact of natural resources on renewable energy consumption in N-11 countries. It moderates the roles of economic growth, stock market capitalization, and technology from 1990 to 2020. This study involves the development of an empirical analysis, the application of advanced econometric methodologies, and the development of a comprehensive policy report. Technology and the stock market are negatively related to renewable energy consumption in the short and long run. There is a positive relationship between natural resources and renewable energy consumption both in the short and long term. A positive relationship exists between economic growth and renewable energy consumption over the long term. Energy policies must be clear, robust, transparent, supported by public support, and backed up by modern energy transmission systems implanted in N-11 countries to accelerate wind and solar energy adoption. In addition to reducing emissions, shifting subsidies to renewable energy supports sustainable economic growth, job creation, improved public health, and greater equity is recommended. Study limitations and direction for future research discussed. •Impact of natural resources on renewable energy consumption checked.•Natural resources are abundant and replenished continuously.•Technology, economic growth, and stock market capitalization were moderated.•Technology and the stock market are negatively related to renewable energy.•Renewable energy consumption and natural resources are positively correlated.