1Assistant Professor, Department of Economics, Central University of Kashmir, Ganderbal, Jammu and Kashmir, Email: masroor.econ@gmail.com (Corresponding author)
2Research Scholar, Department of Economics, Central University of Kashmir, Ganderbal, Jammu and Kashmir, Email: inaamulhaq83@gmail.com
3Research Scholar, Department of Economics, Central University of Kashmir, Ganderbal, Jammu and Kashmir, respectively.
Online Published on 21 October, 2022.
India is one of the world's fastest developing economies, with plenty of room for renewable energy. Nonetheless, due to problems in expanding renewable energy consumption, pollutant emissions have remained a significant environmental concern in India. The study employed a novel econometric cointegration method known as an Autoregressive Distributed Lag Model (ARDLj to investigate the impact of CO2 emissions, renewable energy consumption, non-renewable energy consumption, and trade openness on economic growth for India during the period 1990 to 2018. The findings demonstrate both renewable and non-renewable energy consumption have a statistically significant positive impact on economic growth in both the long and short run. While CO2 emissions and trade openness have a significant negative impact on economic growth in both the short and long run. The study specifies that we should focus on clean energy sources to support economic growth in order to preserve our environment and keep it free of emissions. These novel findings will aid policy-makers and government officials in better understanding the significance of renewable energy and economic growth in India's development.
Renewable energy, CO2 emissions, Non-renewable energy, Trade openness, Economic growth, ARDL
