Year: 2024
Type: article
Abstract: Following the Industrial Revolution, global dependence on non-renewable energy has led to significant environmental challenges and resource scarcity. Recognizing the need for a sustainable energy system, China has committed to investing in renewable energy, evidenced by the substantial allocation outlined in its 13th Five-Year Plan. This study examines the multifaceted impacts of renewable energy investment on economic growth, considering both short-term inhibitory effects due to initial infrastructure costs and long-term benefits related to economic efficiency and environmental sustainability. Additionally, this paper explores the critical role of renewable energy investment in fostering economic growth in China, particularly in the country's transition from traditional energy sources. The analysis also incorporates cases from various countries at different levels of development, enabling a comparative understanding of China's renewable energy landscape. Limitations of the current research, including the need for more comprehensive data on regional disparities and socio-economic effects, are acknowledged. Future research directions are suggested to enhance understanding of the socio-economic implications of renewable energy investment across diverse demographics and to evaluate the effectiveness of policy interventions aimed at promoting sustainable energy development in developing nations.
Author: Guangpeng Weng
Institution: University of Manchester
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405590482