The Impact of Renewable Energy Consumption on GDP and Carbon dioxide emissions in India

Abstract: This study investigates the impact of renewable energy consumption on India's GDP and carbon dioxide emissions. The main objective of this study is to examine the short- and long-term correlation between the utilization of renewable energy, economic expansion, and the release of carbon dioxide in India. This study's main variables were renewable energy consumption, GDP, Carbon dioxide emissions, population, and FDI data from 1980 to 2021. Various methodologies were used to examine the impact of energy consumption factors on economic growth and CO2 emissions. The techniques included in this set are the Cointegration Test, Vector Error Correction Estimates, Granger Causality Test, Estimation of Short-run Coefficients, Autocorrelation Test, and VEC Residual Normality Tests.