TY - JOUR
T1 - Response of mineral market to renewable energy production in the USA
T2 - Where lies the sustainable energy future
AU - Abbas, Shujaat
AU - Sinha, Avik
AU - Saha, Tanaya
AU - Shah, Muhammad Ibrahim
N1 - Publisher Copyright:
© 2023 Elsevier Ltd
PY - 2023/11
Y1 - 2023/11
N2 - The policy dilemma regarding climate action and the rising demand of renewable energy has created opportunities for a new market of critical minerals in the USA. Nevertheless, creation of this market is susceptible to structural uncertainties within the economy. Analysis of these impacts is necessary for the attainment of Sustainable Development Goal (SDG) 7 objectives, which has been a pressing policy concern in the USA. The present study addresses this policy objective by analyzing the impact of renewable energy generation on the returns on mineral market in the USA over January 1990 to July 2022. The Multivariate Quantile-on-Quantile Regression (m-QQR) method is introduced in this study to analyze the tail-dependence of the model parameters in presence of uncertainties. The findings of the study have been utilized to develop a policy framework by internalizing the externalities exerted by the uncertainties, and thereby paving a way for developing a new market for the minerals. Contributions of the present study are (a) adopting the New Market Creation approach for critical minerals, and (b) introducing m-QQR method in the literature.
AB - The policy dilemma regarding climate action and the rising demand of renewable energy has created opportunities for a new market of critical minerals in the USA. Nevertheless, creation of this market is susceptible to structural uncertainties within the economy. Analysis of these impacts is necessary for the attainment of Sustainable Development Goal (SDG) 7 objectives, which has been a pressing policy concern in the USA. The present study addresses this policy objective by analyzing the impact of renewable energy generation on the returns on mineral market in the USA over January 1990 to July 2022. The Multivariate Quantile-on-Quantile Regression (m-QQR) method is introduced in this study to analyze the tail-dependence of the model parameters in presence of uncertainties. The findings of the study have been utilized to develop a policy framework by internalizing the externalities exerted by the uncertainties, and thereby paving a way for developing a new market for the minerals. Contributions of the present study are (a) adopting the New Market Creation approach for critical minerals, and (b) introducing m-QQR method in the literature.
KW - Advanced quantile
KW - Mineral market returns
KW - Renewable energy generation
KW - SDG
KW - USA
UR - http://www.scopus.com/inward/record.url?scp=85169830527&partnerID=8YFLogxK
U2 - 10.1016/j.enpol.2023.113749
DO - 10.1016/j.enpol.2023.113749
M3 - Article
AN - SCOPUS:85169830527
SN - 0301-4215
VL - 182
JO - Energy Policy
JF - Energy Policy
M1 - 113749
ER -
