This paper offers insights regarding the potential of AI software development to narrow the financing gap in renewables. By employing a panel of 49 economies covering 2011–2020, we estimate a two-way fixed effects model and reveal that AI software development significantly promotes equity investments in renewables while imposing no substantial effect on debt investments in the same field. Such results are robust to extra controls, outlier consideration, and the endogeneity concern. Moreover, it is found that AI software development's enhancing effect on equity investments in renewables manifests when the stringency of environmental policies, especially the intensity of public funding support for environmental-related R&D, is sufficiently high. Furthermore, AI software development has a more profound positive impact on equity investments in renewables in economies with more equal business opportunities and lower age dependency.

中文翻译：

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人工智能如何塑造绿色未来：可再生能源领域股权投资与债务投资反应的比较见解


本文提供了有关人工智能软件开发缩小可再生能源融资缺口潜力的见解。通过采用涵盖 2011 年至 2020 年的 49 个经济体小组，我们估计了双向固定效应模型，并揭示人工智能软件开发显着促进了可再生能源的股权投资，同时对同一领域的债务投资没有产生实质性影响。这样的结果对于额外的控制、异常值考虑和内生性问题是稳健的。此外，研究发现，当环境政策的严格程度，特别是对环境相关研发的公共资金支持强度足够高时，人工智能软件开发对可再生能源股权投资的增强作用就会显现出来。此外，在商业机会更加平等、年龄依赖性较低的经济体中，人工智能软件开发对可再生能源的股权投资具有更深远的积极影响。