Abstract
In line with the fourth industrial revolution programs, most of the countries have imposed variety of regulations or policies for the goals of energy conservation, sustainable development, and industrial transition. This paper tested the relation among macroeconomic variables such as economic growth, renewable electricity generations (% of GDP), Industry 4.0 investment, which is proxied by ICT goods and service exports (% GDP) and research and development expenditure for G20 countries in 2000–2019 period by employing Panel Quantile Regression approach. According to results, these variables relate to each other. Elasticities are greater than 1 in most cases except growth elasticity of renewable energy production is greater than 1. Results indicate that economic growth improves both Industry 4.0 process and renewable energy output while Industry 4.0 process improves renewable energy output. These results suggests for policymakers to accelerate economic growth policies and promote Industry 4.0 advancements to have more renewable energy output. Jel Codes: O14 , O32, O44, Q20, Q42