Green growth in oil producing African countries: a panel data analysis of renewable energy demand

Ishmael Ackah, Renatas Kizys

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Abstract

Renewable energy has been considered as the solution to the hydra-headed problems of energy security, energy access and climate change, especially in Africa. In addition, renewable energy sources, such as the sun, wind, wave and waste abound in Africa are in need of investment. In order to provide both policy and investment guide, this study investigates the drivers of renewable energy demand in oil-producing African countries. Three panel data models – a random effect model, a fixed effects model and a dynamic panel data model – are used to estimate renewable energy demand with a comprehensive set of determinants. The estimation results indicate that the main drivers of renewable energy in oil-producing African countries are real income per capita, energy resource depletion per capita, carbon emissions per capita and energy prices. The study recommends that policies should encourage the consumption of commercial sources of renewable energy to attract the needed investments.
Original languageEnglish
Pages (from-to)1157–1166
JournalRenewable & Sustainable Energy Reviews
Volume50
Early online date9 Jun 2015
DOIs
Publication statusPublished - Oct 2015

Keywords

  • Renewable energy demand
  • Energy access
  • Panel data analysis
  • Economic growth

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