Role of electric vehicles technology and research & development for green energy adoption: do human capital and economic globalization matter in the context of China?
摘要
In the race to attain environmental sustainability and efficient transportation, the energy and automobile industry has paid attention to green energy [referred to as renewable electricity output (REO)] and electric vehicles (EV) technology. The present research tends to discover the unexplored empirical association between EV technology and green energy adoption in China during 2010Q1-2022Q4. This study also considers the role of research and development expenditure (RDE), human capital (HC), economic growth (GDP), economic complexity (CMPLX), and economic globalization (ECGLB). Using time series estimation approaches, this study validates the stationarity and the existence of long-run cointegration association between the variables. This study observed the mixed role of electric vehicles and research & development budgets in green energy adoption. However, the negative influence of these variables is stronger in the robust analysis. On the other hand, human capital and economic complexity positively and significantly influence green energy adoption. Moreover, economic globalization harms greener energy adoption, as the empirical results show. Based on the empirical results, this study recommends enhanced investment in EV technology, research & development budgets, and human capital to boost greener energy generation and adoption in the country.