Examining the effects of solar energy Innovations, information and communication technology and financial globalization on environmental quality in the united States via Quantile-On-Quantile KRLS analysis

Abstract

The development of renewable energy infrastructure is widely recognized as pivotal in solving ecological concerns. However, despite their significance in advancing ecological sustainability, researchers have given scant attention to the interplay between solar energy innovations, information and communication technology (ICT), and their impacts on ecological quality. Addressing this research gap, this study examines the impact of solar energy innovations, trade openness, ICT, economic growth and financial globalization on ecological quality in the United States context. To achieve this objective, the study employs the novel Quantile on Quantile Kernel-Based Regularized Least Squares (QQKRLS) approach proposed by Adebayo et al. [1], analyzing data from 2000 to 2020. The findings from QQKRLS analysis unveil several key insights: Firstly, solar energy innovations, economic growth and trade openness exhibit a significant positive association with ecological quality. Secondly, financial globalization and ICT demonstrate a positive impact on ecological quality. Drawing from these results, the study underlines the necessity for the United States to prioritize the promotion of solar energy innovations, financial globalization, trade openness and ICT adoption. By accentuating these strategic imperatives, the United States policymakers can work towards nurturing a more sustainable ecological route while advancing economic development objectives. © 2024 International Solar Energy Society