Does renewable energy consumption contribute to the development of low-carbon economy? Evidence from China.

Stimulating renewable energy consumption has become a major strategic choice for China to both fulfill the international commitment to reduce carbon emissions and realize the high-quality growth of the domestic economy. On account of the provincial data during the period of 2000 to 2017, we creatively incorporate the ecological footprint into the measurement of low-carbon economy development level through super-efficient SBM model, so as to infer the coordinated development level of 3E system more precisely. Based on the factor substitution effect, energy path dependence effect, and scale effect, the complex nonlinear relationship between the two core research objects is further probed by constructing the threshold regressive model. On the foundation of theoretical research, the consumption of renewable energy, the intensity of energy use, and the level of regional economic development are respectively selected as the moderating variables of the model. Further, we divide different intervals of threshold values to distinguish the differences in the effects caused by regional heterogeneity. The following conclusions are drawn ultimately: There is an apparent threshold effect between renewable consumption and the advancement of the low-carbon economy. Only when renewable itself reaches a higher level of consumption can it show a significant advantage in green economic development. In addition, to make full use of renewable resources to boost the low-carbon and green economy, it is necessary to reduce the economy's dependence on energy, that is, to decrease the intensity of energy use while maintaining the process of improving coordination of regional economy.