Comparative Analysis of Human Development and Renewable Energy Policies: A Cross-Sectional & Longitudinal Analysis
DOI:
https://doi.org/10.58445/rars.2571Keywords:
Public Policy, Climate Policy, Environmental Economics, Econometrics, Data AnalysisAbstract
We explore the relationship between a country's Human Development Index (HDI) and the adoption of renewable energy. Employing different methods, we analyzed renewable energy policies in five countries: China, India, Germany, the US, and South Africa. Then, we quantified the HDI and the share of modern renewable energy percentage data from these countries. Additionally, we included cross-sectional and longitudinal analyses. The findings from the latter reveal a strong correlation between HDI growth and renewable energy expansion within a country over time, confirming the hypothesis that advances in a country’s HDI over time result in greater renewable energy consumption. Although developed countries exhibit higher levels of renewable energy, investment, and subsidies, targeting rights-focused policies like technology education can improve green energy composition. We highlight how HDI growth alone is insufficient to expand a country’s renewable energy sources, as integrated development and sustainable energy strategies tailored to the country are necessary.
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