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Can Renewable Energy Investments Be a Solution to the Energy-Sourced High Inflation Problem?
Abstract
The aim of this study is to examine the relationship between renewable energy and inflation. Within this framework, Turkey is taken into consideration. In this context, the data regarding inflation rate and renewable energy usage for the years between 1990 and 2020 is examined. This data is obtained from the website of the World Bank. Engle Granger cointegration analysis is considered to examine the relationship between these factors. The findings demonstrate that there is a long-term relationship between the variables. In other words, it is understood that renewable energy usage affects inflation for Turkey in the long term. Therefore, it would be appropriate for countries to prioritize renewable energy investments. In this way, countries will be able to produce their own energy, and their dependence on foreign energy will decrease. Thus, they will not be affected much by the increases in energy prices. In this context, investments should be made primarily in renewable energy technologies.
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