Abstract

The Impact of Renewable & Non-renewable Energy Consumption on Economic Growth in India

Goverdhan Reddy Lankala, Narasimha Rao Jadi

Volume: 13 Issue: 4 2023

Abstract:

The present study investigates the impact of renewable energy consumption (REC) Non-renewable energy consumption (NREC) on economic growth in India, The Renewable and Non-renewable energy consumption and GDP using yearly time series data from 1980 to 2021, using Unit Root Test, The Johanson Cointegration Test, FMOLS Test. The Johansen trace test determines the overall presence of cointegration relationships in a system of variables. It helps answer whether there is any cointegration among the variables being analysed. FMOLS aims to estimate the long-term equilibrium relationship between the cointegrated variables. The FMOLS model indicates that Log renewable energy consumption (LREC) and Log Gross fixed capital formation (LGFCF) statistically and significantly impact Log Gross Domestic product. (LGDP). They impacted India's GDP positively and significantly during the study period.

DOI: http://doi.org/10.37648/ijrssh.v13i04.014

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