Assessing the Impact of Cultural Globalization on Renewable Energy in the Era of Environmental Pressures

Abstract

Renewable energy is widely acknowledged as the most viable option to combat the rising trends of climate change and global warming. Given its significance, a significant number of empirical studies have focused on identifying the factors that can promote renewable energy. However, the role of environmental pressures and cultural globalization has not been the subject matter of many past studies. This study aims to fill this gap by analyzing the influence of cultural globalization and environmental pressures on renewable energy using the novel MMQR approach. The outcomes of the analysis highlight that cultural globalization significantly and positively influences renewable energy from the lowest to the medium levels, while it does not exert any significant influence at the highest levels of renewable energy. Environmental pressures can also foster renewable energy from the lowest to the highest levels. In contrast, economic growth hindered renewable energy across all quantiles, whereas political stability hindered it only at the lower quantiles. Policymakers should take advantage of people-to-people contact and the rising environmental pressures to promote renewable energy consumption.