Environmental consequences of fossil fuel in Spain amidst renewable energy consumption: a new insights from the wavelet-based Granger causality approach

By comparing ecological footprint and biocapacity, the load capacity factor follows a given ecological threshold, thus allowing for a thorough study of environmental deterioration. As a result, this research uses the load capacity factor (LCF) as a distinct proxy for ecological deterioration, resulting in a detailed environmental evaluation tool that considers both ecological footprint and biocapacity at the same time. Based on this knowledge, the current research investigates the relationship between load capacity factor (LCF) and fossil fuel (FF), renewable energy (REC), economic complexity (ECI) and foreign direct investment (FDI) in Spain utilizing a dataset covering the period between 1970Q1 and 2017Q4.…