Assessing the Link Between Renewable Energy and Economic Growth: Evidence From Indian States and Union Territories

India’s energy outlook, as a developing country, is poised for transformational change, marked by a greater emphasis on renewable energy generation. This study focuses on the supply side of renewable energy (RE) and its relationship with economic growth across Indian States and Union Territories, setting itself apart from previous literature. By applying panel regression and the generalized method of moments to annual data from selected states and union territories, the study concludes that the deployment of RE can spur innovation-led growth, thereby supporting an endogenous growth mechanism.