Lei, WangOzturk, IlhanMuhammad, HafeezUllah, Sana2025-03-072025-03-0720221331-677X1848-9664https://doi.org/10.1080/1331677X.2021.2007413https://hdl.handle.net/20.500.12507/3180One of the strategic objectives of China is to increase renewable energy consumption by reducing non-renewable energy consumption. This motivates us to carefully investigate the asymmetric effects of financial deepening on renewable and non-renewable energy consumption for China, using annual data from 1990 to 2019. The results show that in China, a positive shock in bank deposits and broad money has a significant increasing effect on renewable energy consumption, while a negative shock in bank deposits and broad money has also a significant increasing effect on renewable energy consumption in the long-run. Moreover, positive change in bank deposits and broad money has an inverse impact on non-renewable energy consumption, while negative change has stimulating non-renewable energy consumption in long run. Thus, government and policymaker's policies aimed at promoting financial deepening in China must be persistent and sustainable to foster renewable energy consumption.eninfo:eu-repo/semantics/openAccessBank depositsbroad moneyrenewable energy consumptionnon-renewable energy consumptionChinaNARDLArticle35139613978WOS:0007234578000012-s2.0-8512008730210.1080/1331677X.2021.2007413Q1Q2