An Empirical Study On The Effect Of Renewable Energy Consumption On Economic Growth Data

The environmental problems caused by energy in today's world are worsening,and the energy consumption structure dominated by coal,oil and natural gas has led to a sharp increase in carbon dioxide emissions.At the same time,nuclear leakage has been continuously occurring in various parts of the world in recent years,proving that the use of nuclear energy There is an unavoidable security problem.The excessive consumption of non-renewable energy makes the carrying capacity of the ecological environment on which the human beings depend on the gradual decline,which seriously hinders the sustainable development of the world economy.In the world to vigorously promote the trend of energy-saving emission reduction measures,as a clean and pollution-free characteristics of the renewable energy industry more and more governments,enterprises and scholars attention.In this context,the relationship between renewable energy and economic growth in-depth study of the relationship between the attempt to government departments for energy policy recommendations,has a very important practical significance.This paper aims to use the panel data model and other methods to test and analyze the economic data of the selected 34 sample countries from 1994 to 2014 to explore the relationship between renewable energy consumption and economic growth.Conclusion Try to put forward the policy recommendations for the development of renewable energy.First,according to the Renewable Energy Country Attractiveness Index(RECA),34 countries(regions)were selected as the analysis samples,and the production function model was improved,and the renewable energy and non-renewable energy were regarded as independent The input factors are taken into account in the Cobb-Douglas function,and the panel data model is established using the economic data of the sample countries from 1994 to 2014,and the panel data are analyzed for stationary and correlation.Based on the analysis of the long-term output elasticity of panel data,it is concluded that there is a positive relationship between renewable energy and economic growth,and then the F-test and Hausman test are used to establish the individual fixed effect model for regression analysis.There is a positive linear relationship between economic growth,with a 1%increase in renewable energy consumption and a 0.0450%increase in gross domestic product(GDP).Finally,this paper suggests that with the excessive use of non-renewable energy and the frequent occurrence of nuclear safety issues,in today's world governments to promote energy-saving emission reduction and the context of the development of renewable energy is imperative.Governments and enterprises through the development of a positive renewable energy industry policy,both can make the government to achieve the goal of energy conservation,but also to a certain extent,promote economic development.