Document Type : Research Paper
Authors
Department of Economics, Ar.C., Islamic Azad University, Arak, Iran
Abstract
Renewable energies have been proposed as a key solution to combat climate change and reduce dependence on alternative fossil fuels. The development and expansion of this type of energy depends on various factors, including good governance, green financing, technological innovation, and urbanization. Investment in the aforementioned factors can help accelerate the transition to renewable and sustainable energies. The present study examined the impact of factors affecting renewable energies in ECO member countries over the period 2000 to 2024 and based on the Cross Sectional Augmented Autoregressive Distributed Lag (CS-ARDL), the relationship between the research variables has been analyzed. The results of this study indicate that good governance, green financing, and technological innovation have a positive and significant effect on renewable energy consumption, while urbanization has a negative effect on renewable energy consumption in the ECO region. Since the use of renewable energies plays an important role in sustainable development, it is recommended to prepare space for the transition towards the use of green energies by considering and promoting effective factors.
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