Yazar "Balcilar, Mehmet" seçeneğine göre listele

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    Decarbonizing energy: Evaluating fossil fuel displacement by renewables in OECD countries
    (Springer, 2024) Karlilar Pata, Selin; Balcilar, Mehmet
    Energy transition to greener systems has been a focal point in climate policy agendas across countries as the negative environmental impacts of fossil fuel technologies have become more evident Displacing fossil fuels with clean energy alternatives in this regard is essential for meeting global climate objectives. In this context, the study analyzes the role of disaggregated renewable energy sources on fossil fuel displacement in 36 Organisation for Economic Cooperation and Development (OECD) countries in the period 2000–2020. The findings demonstrate a discernible trend in the displacement of fossil fuels by various forms of renewable energy sources. It is found that to effectively displace 1% of fossil fuels, it is necessary to achieve an average increase of 1.15% in renewable generation capacity. In addition, a one-to-one displacement of fossil fuels occurs with hydropower, demonstrating its higher level of competitiveness and effectiveness in displacing fossil fuels. Moreover, there is a partial displacement of fossil fuels by solar and wind power. These findings suggest that renewable energy sources are progressively advancing towards effectively displacing fossil fuels. © The Author(s) 2024.
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    Öğe
    Identifying the influence of climate policy uncertainty and oil prices on modern renewable energies: novel evidence from the United States
    (Springer, 2024) Pata, Selin Karlilar; Balcilar, Mehmet
    The policy uncertainty surrounding climate change can intensify the urgency of implementing climate policies and influence investment decisions, thereby serving as a catalyst for policy transformation. In this context, given its withdrawal from and subsequent re-commitment to the Paris Agreement, the United States (US) may experience policy uncertainty over climate change. Given this backdrop, it is of paramount importance to explore how the uncertainties caused by shifts in climate policy affect clean energy. This study delves into the impact of climate policy uncertainty and oil prices on modern renewable energy sources, such as solar, wind, geothermal, and biofuels. The most recent monthly data from 1989 to 2023 are used by conducting the Residual Augmented Least Squares (RALS) methodology. The empirical findings show that the uncertainty surrounding climate policy is leading to a shift in the US energy composition, with a focus on solar energy, wind energy, and biofuels. Moreover, the fluctuation in oil prices has a significant effect on the deployment of wind and biofuels, but no discernible effect on solar power. These findings provide significant insights for aligning climate policy in the US with Sustainable Development Goal (SDG) 7, highlighting the crucial importance of encouraging investments in solar energy, wind energy, and biofuels.