Analyzing the effects of solar energy innovations, digitalization, and economic globalization on environmental quality in the United States

Abstract

The escalating apprehension regarding climate change mitigation has intensified the quest for energy alternatives that are low in carbon emissions, economically viable, and consistently available. Within this context, renewable energy sources emerge as fitting candidates, being recognized for their eco-friendliness and cleanliness. Nonetheless, despite the allure of transitioning towards cleaner energy, there exists a notable dearth of literature addressing the pivotal role of solar energy innovations and economic globalization in advancing the agenda of climate change mitigation (SDG-13), thus complicating the prediction of factors influencing ecological quality. Consequently, this study undertakes the inaugural investigation into the impact of solar energy innovation on ecological footprint, while also considering the influences of digitalization, economic globalization, renewable energy, and natural resources in the USA. To this end, Quantile-on-Quantile Kernel-Based Regularized Least Squares (QQKRLS) and wavelet quantile regressions (WQR) methodologies are employed, utilizing data spanning from 2000 to 2020. The analysis reveals that solar energy innovation, along with renewable energy, digitalization, and economic globalization, exerts a negative impact on ecological footprint, whereas natural resources exhibit a positive influence. Drawing from these insights, it becomes apparent that a concerted effort from stakeholders and policymakers is imperative in realizing the objectives of SDG-13 and SDG-7, necessitating a paradigm shifts in the USA's energy portfolio away from fossil fuels towards renewables.