Abstract:
This study aims to investigate the effects of technological advancements, energy efficiency, and renewable energy utilization in Turkiye's fossil fuel sector on CO2 emissions and to test the applicability of the Environmental Kuznets Curve (EKC) hypothesis. The EKC hypothesis has been confirmed for Turkiye, revealing an inverse Ushaped relationship between CO2 absorption and per capita income. Furthermore, all variables display negative coefficients and show statistical significance in the long term. Thus, it has been established that technological progress, energy efficiency, and the adoption of renewable energy have a positive impact on reducing CO2 emissions. Given Turkiye's status as an energy importer heavily dependent on fossil fuels, prioritizing technological advancements in the energy sector is crucial since complete abandonment of fossil fuels in the near future is unlikely. Moreover, efficient energy utilization plays a vital role in reducing energy imports, a substantial contributor to Turkiye's current account deficit. Furthermore, an increase in renewable energy will have a positive effect on Turkiye's economic and energy outlook. The uniqueness of these findings lies in the utilization of these significant variables, which have not been previously employed in the context of the Turkiye economy.
