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Updated: May 29, 2025
05:37
An R-Based Landscape Validation of a Competing Risk Model
Published on: September 16, 2022
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Modeling renewable energy market performance under climate policy uncertainty: A novel multivariate quantile
Avik Sinha1, Muntasir Murshed2,3,4, Narasingha Das5
1HeXie Management Research Centre, Xi'an Jiaotong-Liverpool University, Suzhou, China.
Summary
Climate policy uncertainty dampens renewable energy drivers in the USA. This study introduces a new causality test to analyze these impacts on renewable energy markets and firms, informing climate risk management and Sustainable Development Goal 7.
Area of Science:
- Environmental Economics
- Energy Policy
- Econometrics
Background:
- The US renewable energy market is sensitive to climate policy shifts, affecting risk management and driver behavior.
- Supply-side analyses of these behavioral changes in renewable energy are underrepresented in existing literature.
Purpose of the Study:
- To analyze the moderating role of climate policy uncertainty on renewable energy drivers in the USA.
- To provide a risk analysis perspective on the impact of policy uncertainty.
Main Methods:
- Introduction of a novel multivariate quantile-on-quantile causality test.
- The test addresses tail dependence, co-movement, predictability, multivariate, and asymmetric impacts.
- Analysis conducted at both national and firm levels (top-5 US renewable energy firms).
Main Results:
- Climate policy uncertainty exerts a dampening effect on renewable energy drivers.
- The impact of policy uncertainty varies significantly at the firm level.
- The findings highlight policy implications for climate risk management.
Conclusions:
- Climate policy uncertainty is a critical factor influencing the US renewable energy sector.
- Addressing policy uncertainty is essential for effective climate risk management and achieving Sustainable Development Goal 7.
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