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How digital finance promotes renewable energy consumption in China?

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Abstract

This study uses a quantitative methodology to investigate how the rise of digital money has affected efforts to increase green energy use in China. This work contributes to the body of knowledge by using a number of empirical methods, such as regression analysis, parametric quantile estimation, stability diagnostic tests, and sensitivity analysis. This study’s results further demonstrate the importance of digital financing in easing the adoption of renewable energy sources throughout China. Financing alternatives for renewable energy projects have increased as a result of digital finance’s integration of digital technology with financial services. A wider range of investors has been attracted through crowdfunding, peer-to-peer lending, and other alternative financing models made possible by digital platforms, allowing the development of small and medium-sized renewable energy projects that may have had trouble securing funding through more traditional channels. The impact of digital finance on energy management and optimization is also investigated. As a result, renewable energy sources have been more widely adopted due to increased energy efficiency, better grid integration, and more efficient energy delivery. This study presents substantial evidence of the beneficial benefits of digital finance on renewable energy use in China using rigorous empirical methodologies such as regression analysis, parametric quantile estimation, stability diagnostic tests, and sensitivity analysis. The results highlight the significance of using digital money to boost the use of renewable energy, lessen reliance on fossil fuels, and help create a greener, more sustainable future.

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Authors and Affiliations

  1. Xi’An University of Architecture and Technology Huaqing College, Xi’An, 710049, China

    Jing Ma

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  1. Jing Ma
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Contributions

Conceptualization, methodology, and writing—original draft, data curation, visualization, editing: Jing Ma.

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Correspondence to Jing Ma.

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The authors declared that they have no known competing financial interests or personal relationships, which seem to affect the work reported in this article. We declare that we have no human participants, human data, or human issues.

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Ma, J. How digital finance promotes renewable energy consumption in China?. Environ Sci Pollut Res 30, 102490–102503 (2023). https://doi.org/10.1007/s11356-023-29504-7

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