PERFORMANCE ANALYSIS OF ENVIRONMENTAL SUSTAINABILITY USING RENEWABLE ENERGY SOURCES TO DECREASE GREENHOUSE GAS EMISSION

Abstract

Given the finite nature of fossil energy supplies and the issues associated with Greenhouse Gas (GHG) emissions, it is imperative to prioritize Renewable Energy Sources (RES) to attain Sustainable Development (SD) objectives. The significance of RES in SD, mitigating GHG emissions, and enhancing energy security, coupled with the necessity for financial backing and substantial investments in RES projects, amplifies the role and significance of SD in advancing RES. This research investigates the effects of contemporary facility expansion and RES. This study examines changing relationships in the Sustainable Energies Development Pattern of carbon dioxide utilizing the Bayesian Vector Auto Regression (BVAR) approach. One of the critical metrics for assessing SD is the altered pure arrangement. This indicator was used as an environmentally friendly index for this aim. The findings demonstrate that the influence of positive impetus on RES usage contributes positively to SD in Uganda. The favorable impact of RES usage elevates carbon dioxide outputs to varying degrees. The effect of the increase in the sustainability index on RES usage is negatively correlated with GHG emissions. The research findings indicate that, according to the RMSE criteria, the previous SSVS-Full function was employed to examine the influence of RES usage on SD, whereas the standalone Normal-Wishart function was utilized. The study examines the dynamic links among SD, energy consumption (distinctly considering RES and non-RES energy), and carbon footprints.