Renewable Energy Technology Innovation Effect on the Economics Growth

With rapid economic expansion, China is faced with environmental challenges like air pollution and greenhouse gas emissions. Shifting from conventional fossil fuels to renewable energy (REN) sources is critical to facilitate sustainable development in China. Compared to coal and oil, REN such as solar and wind energy emit less carbon emissions. Fostering innovation of REN technologies is thus essential for China's green transition. This study aims to analyze the impact of REN technology innovation on China's economic growth using panel data models. The results demonstrate that advancing REN technologies significantly promotes GDP increase in China. Targeted policy incentives must be implemented to accelerate REN technology progression and adoption across the country. Transitioning towards REN systems will be instrumental for China to achieve environmental sustainability while maintaining economic growth.