Global evidence of multi-dimensional asymmetric effect of energy storage innovations on environmental quality: Delineating the role of natural resources, nuclear energy and oil consumption

USMAN O., Ozkan O., Ike G. N.

Journal of Cleaner Production, cilt.451, 2024 (SCI-Expanded) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 451
  • Basım Tarihi: 2024
  • Doi Numarası: 10.1016/j.jclepro.2024.142070
  • Dergi Adı: Journal of Cleaner Production
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, PASCAL, Aerospace Database, Business Source Elite, Business Source Premier, CAB Abstracts, Chimica, Communication Abstracts, Compendex, INSPEC, Metadex, Pollution Abstracts, Public Affairs Index, Veterinary Science Database, Civil Engineering Abstracts
  • Anahtar Kelimeler: Energy storage innovations, Global scale, Greener environment, Multivariate quantile on quantile regression, Nuclear energy
  • İstanbul Ticaret Üniversitesi Adresli: Evet

Özet

The strive to lower reliance on fossil fuels and transition to clean energy sources necessitates innovations in energy storage. This study empirically investigates the effectiveness of energy storage innovations towards a greener environment on a global scale. To this end, we use quarterly frequency time series data on a global scale over the period 2000 to 2020 and the estimation techniques based on the nonparametric multivariate quantile on quantile regression (MQQR), multivariate quantile regression (MQR), and Kernel-based regularized least squares (KRLS). The empirical results reveal that energy storage innovation and nuclear energy are strongly related to a decline in carbon dioxide emissions (CO2e) but natural resources and oil consumption intensify the level of CO2e across quantiles. However, the effects of energy storage innovation, nuclear energy, natural resources, and oil consumption are heterogeneous leading to an asymmetric pattern across quantile distribution. The policy implication of this study is that, on a global scale, energy storage innovation and nuclear energy provide opportunities for attaining a greener environment and more environmentally sustainable future but natural resources and oil consumption impede policies toward a sustainable environment. Therefore, our study recommends, among other things, an aggressive boost of energy storage system and nuclear energy while decreasing reliance on fossil fuels.