Financing Modeling of Renewable Energy
DOI:
https://doi.org/10.58445/rars.798Keywords:
renewable energy, GDP, Solar EnergyAbstract
As the world increases its reliance on energy, the practice of adopting innovative, renewable energy sources has grown in significance. This study focuses on the effects of regulations and incentives on renewable energy financing in the U.S. The goal is to examine the connection between factors such as GDP and renewable energy financing. Using data from 2016 to 2019, a regression model is used to analyze how factors like GDP affect renewable energy consumption. Findings suggest that adopting certain renewable energy sources are more correlated with GDP, including solar, geothermal, biomass, and total renewable energy. In addition, economic factors were examined to determine which affected renewable energy consumption the most. The analysis suggested that the most effective energy source in the U.S. was solar, due to the high GDP in the U.S. as well as the rate of technological advancement in solar energy.
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