Energy-Economy-Environment Nexus Toward Sustainable Development: The Function of Globalization and Technological Innovation on Load Capacity Factor in Thailand

Abstract: We empirically analyzed the role of economic growth, globalization, intensity of energy use, and technological innovation on the load capacity factor in Thailand. We utilized the newly developed robustness dynamics “Autoregressive Distributed Lag (ARDL)” model over the course of 1980 to 2018. Our model revealed that economic growth and energy use were inversely related to the load capacity factor, whereas globalization showed a positive effect in both the short and long run. At the beginning, technological innovation may have negative implications, but over time, it has a positive influence. Findings are seen to be effective by the robustness check tests, namely “dynamic ordinary least squares (DOLS), fully modified least squares (FMOLS), and canonical cointegrating regression (CCR).” We are recommending appropriate policies for achieving environmental sustainability through establishing a green and low-carbon economy, amplifying expenditure on research and development (R&D) for renewable energy production and technologies, and increasing collaboration with technologically developed countries for the transfer of green and clean technologies. Highlights: We examine the nexus between the load capacity factor and its determinants. Several econometric methods were employed by using Thailand’s time series data. Economic growth and energy use negatively affect the load capacity factor. Globalization and technology innovation improve the load capacity factor. We are suggesting policies for sustainable development.