Existing literature recommends the essential role of renewable energy consumption (REC) in achieving environmental sustainability. Although prior works have investigated the significant factors of REC, the effect of green environmental policies remains largely understudied, particularly in OECD countries. Therefore, this study specifically examines the role of environmental policy stringency (EPS) in enhancing (or diminishing) REC in 27 OECD economies between 2000 and 2019. Furthermore, we aim to specify the determinants of REC and investigate whether EPS could help moderate the relationship between global economic policy uncertainty (GEPU) and REC. To accomplish this, we employ both the fixed effects and panel quantile estimation methods. The findings underline that EPS has a positive and significant impact on REC, indicating that stricter green environmental policies lead to encouraging REC. Besides, the findings show that EPS has a beneficial role in lessening the negative effect of GEPU on REC, and its negative effect on REC is more moderated as moves from environments with low EPS to high EPS. The results also underscore that financial market development, FDI, remittances, technological innovation, and economic development positively promote REC whereas CO2 and natural resources rents have a detrimental impact. The findings are significant and a wide range of policy suggestions is recommended to governments, policymakers, and regulators to attain the energy and environmental sustainability targets set out in SDG 7 and SDG 13, respectively.

中文翻译：

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全球经济政策的不确定性和可再生能源需求：环境政策的严格性重要吗？来自经合组织经济体的证据

现有文献推荐可再生能源消耗（REC）在实现环境可持续性方面的重要作用。尽管先前的工作已经调查了 REC 的重要因素，但绿色环境政策的影响仍然很大程度上未被充分研究，特别是在 OECD 国家。因此，本研究专门研究了 2000 年至 2019 年间 27 个 OECD 经济体中环境政策严格度 (EPS) 在增强（或减弱）REC 方面的作用。此外，我们的目标是明确 REC 的决定因素，并调查 EPS 是否有助于调节这种关系全球经济政策不确定性 (GEPU) 和 REC 之间的关系。为了实现这一目标，我们采用固定效应和面板分位数估计方法。研究结果强调，EPS 对 REC 具有积极且显着的影响，表明更严格的绿色环保政策会鼓励 REC。此外，研究结果表明，EPS 在减轻 GEPU 对 REC 的负面影响方面具有有益作用，并且随着从低 EPS 环境转向高 EPS 环境，其对 REC 的负面影响更加缓和。结果还强调，金融市场发展、外国直接投资、汇款、技术创新和经济发展对 REC 有积极促进作用，而二氧化碳和自然资源租金则具有不利影响。研究结果意义重大，并向政府、政策制定者和监管机构提出了广泛的政策建议，以实现可持续发展目标 7 和可持续发展目标 13 分别规定的能源和环境可持续性目标。