Abstract:

This study examined the relationship between economic growth and renewable energy consumption. For this purpose, the period between 1991-2019 of 36 OECD countries was analyzed using the standard error predictor of the Fixed Effective Driscoll-Kraay (1998) . Research findings have shown that increased renewable energy consumption has a positive and meaningful impact on economic growth. Accordingly, the implementation of policies that encourage renewable energy consumption in research countries will contribute to economic growth. This finding also supported the growth hypothesis that energy consumption will increase economic growth. The results have shown that renewable energy consumption policies in OECD countries play an important role in sustainable development goals. The research has shown that labour rates and outward transparency have a positive and meaningful impact on economic growth. Nevertheless, the impact of investment rates on economic growth has been meaningless.

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