Do Artificial Intelligence (AI) and Finance Matter for Renewable Energy Development? Fresh Evidence From Waste-Recycled Economies
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F25%3A105986" target="_blank" >RIV/60460709:41110/25:105986 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1002/ese3.70323" target="_blank" >https://doi.org/10.1002/ese3.70323</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1002/ese3.70323" target="_blank" >10.1002/ese3.70323</a>
Alternative languages
Result language
angličtina
Original language name
Do Artificial Intelligence (AI) and Finance Matter for Renewable Energy Development? Fresh Evidence From Waste-Recycled Economies
Original language description
Over the last few decades, the Globe has become an eyewitness to a blend of socioeconomic and environmental issues. Interestingly, the globe has performed well in adopting green initiatives, compelling nations to strive for social, economic, and environmental sustainability. Recently, economies have primarily focused on developing renewable energy plans to promote affordable energy under the framework of SDG 7. However, most policymakers are unaware of the critical issues and their best alternative in renewable energy development (RED) plans. For the first time, this study introduces the essential factors of RED that may contribute to improving the actual situation of renewable energy development. In terms of these factors, this study encompasses public-private partnerships (PPPs), the circular economy, artificial intelligence, financial activities, income, and skilled labor for nine waste-recycled economies over the period from 2000 to 2022. However, this study utilizes the most robust estimators to obtain valuable outcomes. The investigated outcomes demonstrate a positive relationship between financial development and income, as measured by RED. Surprisingly, artificial intelligence significantly contributes to RED by 7.875%. On the other hand, public-private partnerships and the circular economy exhibit an inverse connection with RED, which is unusual for selected nations. Similarly, the impact of skilled labor remains insignificant for the selected countries. Overall, the financial development performance is considerable, as it supports all sectors of the economy through its financial services. Thus, this study uses financial depth, efficiency, and stability as additional RED determinants. Outcomes describe the significant contribution of financial stability in the RED. In addition, the present research examines the moderate effect of the FD on the circular economy, public-private partnerships, and artificial intelligence. This study makes a significant contribution only in the case of the circular economy. Ultimately, this study suggests green implications for strengthening sustainable renewable energy development.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2025
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
ENERGY SCIENCE & ENGINEERING
ISSN
2050-0505
e-ISSN
2050-0505
Volume of the periodical
13
Issue of the periodical within the volume
12
Country of publishing house
US - UNITED STATES
Number of pages
21
Pages from-to
6362-6382
UT code for WoS article
001598234800001
EID of the result in the Scopus database
2-s2.0-105019561492