Abstract
As the world transitions towards a low-carbon economy, understanding the
employment implications of renewable energy growth is crucial, particularly in emerging
economies like the BRICS nations, where energy demand and employment pressures are
rapidly evolving. The justification for this study lies in the critical need to understand the
employment effects of renewable energy growth in emerging economies, particularly in
the BRICS nations, which account for a significant share of global energy demand and are
poised to drive the next wave of renewable energy adoption. As these countries navigate
the challenges of energy transition, employment creation, and sustainable development,
this research aims to provide timely and actionable insights for policymakers, industry
stakeholders, and researchers seeking to optimize the employment benefits of renewable
energy growth in these regions. The purpose of this study is to investigate the impact of disaggregated
renewable energy (solar, hydro, wind, nuclear, and other renewables including
bioenergy) on employment dynamics in BRICS nations, so as to provide empirical evidence
on the employment effects of renewable energy growth in these regions. The key findings
from the study are summarized as follows: Hydro contributes positively to employment
creation in BRICS nations, with FMOLS (0.78%), DOLS (2.06%), and PCSE (0.61%) results
showing significant positive effects. Solar contributes positively to employment creation
in BRICS nations, with FMOLS (1.99%) and DOLS (9.60%) results showing significant
positive effects, although country-specific results are mixed. Economic growth contributes
positively to employment creation in BRICS nations, with FMOLS (32.93%), DOLS (36.86%),
and PCSE (27.68%) results showing significant positive effects. Wind contributes negatively
to employment creation in BRICS nations at the aggregate level (FMOLS, −0.66%), but
has positive effects in some countries (Brazil, China, Russia, and South Africa). Nuclear
contributes negatively to employment creation in BRICS nations at the aggregate level
(FMOLS, −0.47%; PCSE, −1.04%), but has positive effects in some countries (Russia, India,
China, and South Africa). Other Renewables contribute negatively to employment
creation in BRICS nations, with FMOLS (−2.57%) and PCSE (−4.77%) results showing
significant negative effects. Policymakers in BRICS nations should prioritize investments
in hydropower, solar power, and wind power to leverage their job creation potential and
promote sustainable economic growth. Additionally, governments should implement
policies to support the development of other renewable energy sources, such as bioenergy,
geothermal, and tidal power, to increase their job creation potential. Furthermore, policymakers
should promote economic growth through green investments and sustainable
development initiatives to maximize employment creation in the renewable energy sector.