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US Solar Energy Consumption vs US Bank Lending Interest Rate
US Solar Energy Consumption and US Bank Lending Interest Rate correlate at r = -0.44 over 39 years (1983–2021), p = 0.0047. With the time trend removed, r = +0.31. Direction flips without the trend.
Verdict: Direction flips without the trend. The raw correlation is -0.44, but once each series' time trend is removed it becomes 0.31. The year-to-year movements run the opposite way to the long-run trends, so the headline number is misleading.
- Pearson r
- -0.44
- p-value
- 0.0047
- Years compared (n)
- 39 (1983–2021)
- 95% confidence interval
- -0.67 to -0.15
- Correlation with the time trend removed
- +0.31
Sources
- US Solar Energy Consumption (TWh): Our World in Data. US Solar Energy Consumption (Our World in Data: Solar).
- US Bank Lending Interest Rate (%): World Bank. US Bank Lending Interest Rate (World Bank indicator FR.INR.LEND).
Related pairs
- US Solar Energy Consumption vs US R&D Expenditure (r = +0.94)
- US Solar Energy Consumption vs US Population Aged 65+ (r = +0.94)
- US Solar Energy Consumption vs US Wind Power Generation (r = +0.91)
- US Solar Energy Consumption vs US Federal Debt Outstanding (r = +0.89)
- US Renewable Energy Share vs US Solar Energy Consumption (r = +0.86)
- US Coal Consumption vs US Solar Energy Consumption (r = -0.85)
Correlation does not imply causation. How the verdict is worked out.