Faculty Sponsor: Shyam Gouri Suresh
In an effort to curb carbon emissions with growing concerns of climate change, many countries have focused on promoting renewable energy growth. In this study, I attempt to determine whether renewable energy use has a significant effect on lowering carbon. I also analyze the effects of several other potential determinants of emissions. By estimating a model of CO2 emissions that contains renewable energy as an independent variable, I show that renewable energy, total electricity output, GDP, and GDP2 all have significant relationships with carbon emissions. Thus, I support the Environmental Kuznets Curve hypothesis for a global panel, and support my hypothesis that renewable energy use can be a significant determinant of emissions. I also encounter an interesting finding that Financial Development may contribute to greater carbon emissions, which contradicts previous literature.