With respect to the regression variables in the above equation, the coefficient of carbon emissions is positive (stated in the evaluation of the regression equation), and is significant in terms of statistics. This implies that the increase in the emission of carbon is proportional to the increase in the renewable energy supply. The question is why the increase in the CO2 emission leads to the increase in the renewable energy adoption? This might probably be as a result of government regulation which emphasize that as the CO2 emission increases, the need to switch to green energy increases, and that this comes with an option of not exceeding the compulsory emission caps (Huber & Morthorst’s thesis, 2013). However, according to the model the
…show more content…
This implies that the increase in the emission of carbon is proportional to the increase in the renewable energy supply. The question is why the increase in the CO2 emission leads to the increase in the renewable energy adoption? This might probably be as a result of government regulation which emphasize that as the CO2 emission increases, the need to switch to green energy increases, and that this comes with an option of not exceeding the compulsory emission caps (Huber & Morthorst’s thesis, 2013). However, according to the model the fossil price is not statistically significant. The variation of the prices may be as a result of the government regulatory distortions. In conclusion, having considered the relationship that exists between CO2 emission, the price of fossil fuel energy and green energy, the emission of C02 has become an indicator to boost or accelerate the adoption and the use of renewable energy, and also an indicator to spread the renewable energy sources in the medium …show more content…
They include, climate change and its future effects, health impact of breathing which occurs when occurs when fossil fuels are burnt (about 3 million people die each year due to air pollution problem), energy security, and the desire to control local energy production. In tackling these factors, the government policies, which include, the emission controls, renewable energy targets, and financial gain is encouraging the transition from fossil fuel to renewable energy, mainly wind and solar energy. For decades, scientists have stood their grounds and made it clear that CO2 emissions from fossil fuels are changing the earth’s climate, and their increase in the atmosphere, coupled with the greenhouse gases are increasing the temperature of the earth. The consequences cause by these gases in the atmosphere include the rising of the sea level, melting ice sheet and glaciers, destructive storms, lightning, increase rainfall
This implies that the increase in the emission of carbon is proportional to the increase in the renewable energy supply. The question is why the increase in the CO2 emission leads to the increase in the renewable energy adoption? This might probably be as a result of government regulation which emphasize that as the CO2 emission increases, the need to switch to green energy increases, and that this comes with an option of not exceeding the compulsory emission caps (Huber & Morthorst’s thesis, 2013). However, according to the model the fossil price is not statistically significant. The variation of the prices may be as a result of the government regulatory distortions. In conclusion, having considered the relationship that exists between CO2 emission, the price of fossil fuel energy and green energy, the emission of C02 has become an indicator to boost or accelerate the adoption and the use of renewable energy, and also an indicator to spread the renewable energy sources in the medium …show more content…
They include, climate change and its future effects, health impact of breathing which occurs when occurs when fossil fuels are burnt (about 3 million people die each year due to air pollution problem), energy security, and the desire to control local energy production. In tackling these factors, the government policies, which include, the emission controls, renewable energy targets, and financial gain is encouraging the transition from fossil fuel to renewable energy, mainly wind and solar energy. For decades, scientists have stood their grounds and made it clear that CO2 emissions from fossil fuels are changing the earth’s climate, and their increase in the atmosphere, coupled with the greenhouse gases are increasing the temperature of the earth. The consequences cause by these gases in the atmosphere include the rising of the sea level, melting ice sheet and glaciers, destructive storms, lightning, increase rainfall