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<p>Climate change and the transition to renewable energy have become critical global challenges, with climate policy uncertainty emerging as a significant factor influencing renewable energy consumption. Despite growing attention to renewable energy consumption determinants, this paper intends to contribute distinctly by examining the short- and long-term asymmetric impacts of climate policy uncertainty on renewable energy consumption in the United States, utilizing monthly data from January 2005 to February 2019. Employing the nonlinear autoregressive distributed lag (NARDL) model, this paper captures the differential effects of positive and negative shocks in climate policy uncertainty on renewable energy consumption, while accounting for heterogeneity across renewable energy sources, economic sectors, and geographic regions. The findings reveal that climate policy uncertainty exerts a short-term boost but a long-term inhibitory effect on total renewable energy consumption. Positive shocks in climate policy uncertainty have a more pronounced impact on renewable energy consumption than negative shocks, highlighting the asymmetric nature of climate policy uncertainty. Furthermore, the effects of climate policy uncertainty vary significantly across different renewable energy sources, with hydroelectric and solar energy consumption being more vulnerable to negative climate policy uncertainty shocks compared to other sources. Heterogeneity analyses indicate that the commercial and industrial sectors, the Midwest and Southern regions, and coastal areas are more susceptible to the long-term negative effects of climate policy uncertainty than other sectors and regions. This study contributes to the literature by providing a comprehensive analysis of the asymmetric impact of climate policy uncertainty on renewable energy consumption, offering novel insights into the differential responses of renewable energy sources, sectors, and regions. The results can help policymakers to assess energy needs and establish a stable and clear framework for economic, energy, and environmental policies.</p>

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Asymmetric effects of climate policy uncertainty on the renewable energy consumption

  • 期刊论文

  • 发表日期：

    2025年4月21日

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  • Qian Ding,
  • Xuehong Zhu,
  • Shishi Zhang

摘要

Climate change and the transition to renewable energy have become critical global challenges, with climate policy uncertainty emerging as a significant factor influencing renewable energy consumption. Despite growing attention to renewable energy consumption determinants, this paper intends to contribute distinctly by examining the short- and long-term asymmetric impacts of climate policy uncertainty on renewable energy consumption in the United States, utilizing monthly data from January 2005 to February 2019. Employing the nonlinear autoregressive distributed lag (NARDL) model, this paper captures the differential effects of positive and negative shocks in climate policy uncertainty on renewable energy consumption, while accounting for heterogeneity across renewable energy sources, economic sectors, and geographic regions. The findings reveal that climate policy uncertainty exerts a short-term boost but a long-term inhibitory effect on total renewable energy consumption. Positive shocks in climate policy uncertainty have a more pronounced impact on renewable energy consumption than negative shocks, highlighting the asymmetric nature of climate policy uncertainty. Furthermore, the effects of climate policy uncertainty vary significantly across different renewable energy sources, with hydroelectric and solar energy consumption being more vulnerable to negative climate policy uncertainty shocks compared to other sources. Heterogeneity analyses indicate that the commercial and industrial sectors, the Midwest and Southern regions, and coastal areas are more susceptible to the long-term negative effects of climate policy uncertainty than other sectors and regions. This study contributes to the literature by providing a comprehensive analysis of the asymmetric impact of climate policy uncertainty on renewable energy consumption, offering novel insights into the differential responses of renewable energy sources, sectors, and regions. The results can help policymakers to assess energy needs and establish a stable and clear framework for economic, energy, and environmental policies.