Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development

The global energy mix is shifting from fossil fuels to combinations of multiple storage and generation types. Hybrid system advancements provide opportunities for developing deploying innovative green technology solutions that can further reduce emissions achieve net-zero by 2050. This study examined the impact an increasing share wind solar electricity production on reducing carbon intensity controlling coal lignite domestic consumption refined oil products in a world aggregated data panel. Data covering last three decades were used analysis ARDL bounds testing approach. results showed would be helpful decrease short long term. On other hand, 1% increase increased 0.343% run 0.174% run. decreases 0.510% 0.700% However, refining associated with positive negative environmental externalities. aspect depends upon removal harmful pollutants cleaner-burning fuels, while part related operational side refineries processing plants may release contaminants into atmosphere, affecting air water quality. Hence, it crucial improve capacity produce better-refined using renewable production. It proposed these are most cost-effective pathways industrial decarbonization.