Reducing CO2 emissions in OECD countries: Do renewable and nuclear energy matter?

This study contributes to the existing environmental economics literature by examining the short- and long-run impacts of renewable and nuclear energy consumption on CO2 emissions in the case of 15OECD countries over the period 1990–2018 using both the Fully Modified OLS (FMOLS) and the vector error...

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Bibliographic Details
Published in:Progress in nuclear energy (New series) Vol. 126; p. 103425
Main Authors: Saidi, Kais, Omri, Anis
Format: Journal Article
Language:English
Published: Oxford Elsevier Ltd 01.08.2020
Elsevier BV
Subjects:
Alternative energy
Alternative energy sources
Carbon dioxide
CO2 emissions
Emissions
Emissions control
Energy consumption
Error correction
Investment
Nuclear energy
Nuclear engineering
Nuclear reactors
OECD countries
Renewable energy
Studies
Canada
Czech Republic
Netherlands
United Kingdom > UK
Switzerland
Japan
Nuclear energy
Renewable energy
CO2 emissions
OECD countries
ISSN:0149-1970, 1878-4224
Online Access:Get full text
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Summary:This study contributes to the existing environmental economics literature by examining the short- and long-run impacts of renewable and nuclear energy consumption on CO2 emissions in the case of 15OECD countries over the period 1990–2018 using both the Fully Modified OLS (FMOLS) and the vector error correction model approach (VECM) estimation methods. The results of the FMOLS show that: (i) investment in nuclear energy reduces CO2 emissions in Canada, Netherlands, Japan, Switzerland, Czech Republic and UK, (ii) investment in renewable energy reduces CO2 emissions in Belgium, Canada, France, Germany, Sweden, UK, US, Japan, Switzerland, Finland, Czech Republic; however, it increases CO2 emissions in Netherlands and South Korea, and (iii) both nuclear and renewable energy consumption reduces carbon emissions for the panel estimations. Moreover, the results of the VECM method show that nuclear and renewable energies reduce CO2 emissions in the long-term. Our results suggest that the best option to reduce CO2 emissions is to aim for a mix of nuclear and renewable energy. No need to choose. On the contrary: the two sources of energy are complementary. Policy implications are also discussed. [Display omitted] •Investment in nuclear energy and renewable energy reduced CO2 emissions in Belgium, Canada, France, Germany, Sweden, UK, US, Japan, Switzerland, Finland, Czech Republic; however, it increases CO2 emissions in Netherlands and South Korea.•Both nuclear and renewable energy consumption reduces carbon emissions for the panel estimations.•The best option to reduce CO2 emissions is to aim for a mix of nuclear and renewable energy.
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ISSN:0149-1970
1878-4224
DOI:10.1016/j.pnucene.2020.103425