Econometric modelling of determinants of COVID-19 impact in the Australian residential solar market

Publication Type:
Thesis
Issue Date:
2023
Full metadata record
The COVID-19 pandemic, an unforeseen global crisis, has profoundly affected diverse aspects of human life, including socioeconomic and demographic dimensions. Amid the prioritization of healthcare and pandemic-related challenges, addressing issues like escalating electricity demand and carbon emissions has become imperative. The study focuses on Australia's residential solar energy sector, a vital component of its renewable energy resources and economy. It examines the repercussions of COVID-19 lockdowns on residential solar photovoltaic (PV) adoption while considering socioeconomic and demographic factors. Employing a multifaceted approach, the study deploys three primary econometric models: contemporaneous, lag, and interaction. These models are adeptly utilized to gauge both the immediate and medium-term effects of lockdowns, alongside the assessment of lockdown duration's associated socioeconomic, demographic, and policy facets impact on the residential solar adoption during the pandemic. This study significantly contributes to formulating post-pandemic regulations governing residential solar energy. They underscore the paramount significance of adaptability and resilience in the pursuit of climate targets, both on a domestic and global scale. This research holds substantial value within the broader discourse on the residential solar energy market, offering invaluable insights for navigating unforeseen disruptions and propelling the adoption of solar energy in Australia.
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