The Investigation of Causality Relation between Renewable Energies Consumption and Economic Growth: By Panel Data of BRICS Countries

High economic growth always has been of interest to policy makers and administrators that these strategies have been proposed to achieve this. Energy is a production factor and its impact on economic growth can be observed , Necessary energy use for growth and development, along with issues such as, greenhouse gas emissions, reduce fossil energy reserves and growing demand for energy has led to countries seeking to develop renewable energies. Therefore in this study was investigate the causality between Renewable energy consumption and economic growth in the BRICS countries, the period1990of 2011for this purpose a panel data model, the Chow test, Hausman and Broush, and Paganis used. The results of this study indicate that in this group of countries, there is the eco-integration relationship between Renewable energy consumption and economic growth. In this study, Panel estimates indicate that the increase in real per capita GDP and per capita emissions of carbon dioxide is a major stimulus for renewable energy consumption per capita. The results show that there is a positive and significant relationship between growth of GDP and renewable energies shares. This relation shows when countries attain higher economic growth, they decline toward more investment in renewable resources.