Renewable energy sources as a solution for energy security risk: Empirical evidence from OECD countries

The integrated influence of energy security risk and green innovation on the material footprint: An EKC analysis based on fossil material flows

The impacts of different types of globalization on energy security risk: Can globalization be a remedy for the energy security risk of OECD countries?

This study analyzes the impact of energy security and geopolitical risks on energy consumption in countries with geopolitical risk from 1985 to 2021, with the aid of financial development, economic growth, and human capital as moderating variables. Employing robust panel data econometric techniques, the analysis reveals that heightened geopolitical risks and compromised energy security significantly affect energy consumption patterns. The increase in energy security risk by 1% has a dual impact on energy consumption patterns in countries with high geopolitical risk, as renewable energy consumption increases by 0.1227%, while non-renewable energy consumption also increases by 0.113%. As geopolitical risk increases by 1%, energy consumption patterns change, decreasing renewable and non-renewable energy consumption. Specifically, renewable energy consumption decreases by 0.00010% with a 1% rise in geopolitical risk. A 1% increase in financial development significantly impacts energy consumption in these countries. The adoption of sustainable energy solutions is positively correlated with the development of financial markets in high-risk countries, with non-renewable energy consumption decreasing by 0.0187% as financial development progresses. Additionally, an increase in economic growth of 1% leads to a 0.6750% increase in renewable energy consumption, indicating a preference for renewable sources as economies expand, aligning with global sustainability efforts. The findings underscore the importance of resilient energy policies considering geopolitical uncertainties while promoting sustainable economic development. This study offers critical insights for policymakers aiming to balance energy security with financial stability in geopolitically sensitive regions, providing a comprehensive framework to guide strategic decisions in the face of evolving global risks.

Energy security risk has been rising worldwide, which calls for profound policy efforts. Considering this, we intend to investigate the impact of environmental policy stringency on energy security risk in the top five energy-consuming countries. Hence, the study directly addresses multiple sustainable development goals. It addresses energy security issues from a unique lens and describes a course of action regarding energy resource conservation. The long-run results from the panel nonlinear ARDL method show that positive fluctuations in environmental policy stringency are responsible for low energy security risk. A 1% increase in the positive fluctuation of environmental policy stringency decreases energy security risk by 0.84% to 1.09%, respectively. Next, a negative fluctuation in environmental policy stringency does not affect energy security risk. The short-run results conclude that neither positive nor negative shocks in environmental policy stringency impact energy security risk. The results are consistent across certain robustness checks. We propose to impose strict environmental regulations to plummet energy security risk in the selected countries. Long-term policy stringencies need to be revisited and strengthened for a secure future for global energy resources.

Following a high economic growth path, the group of G7 economies is found to be utilising more and more material, causing a material footprint (MF), which in turn contributes to pollution. The MF can be derived from various factors, including fossil fuels, building materials, and biomass. But the G7 countries heavily rely on carbon‐based fuels, which are considered the key source of the MF. The energy security issues further call for control of the situation by lowering the MF and improving the quality of the environment by enhancing the use of renewable sources of energy. The current study intends to add to the literature by exploring the linkages between economic growth and MF, keeping in view the energy security issues in G7 economies over the period from 1985 to 2018. The study crafts a model of environmental pollution by evaluating the effects of economic growth, the energy security risk (ESR), and renewable energy consumption (REC) on the fossil material footprint (FMF). The inferences are drawn using the panel quantile regression (PQR) technique. The outcomes showed that FMF significantly and positively correlated with the ESR, but in the last two upper quantiles, the impact of ESR becomes significantly negative. Likewise, the utilisation of renewable energy is found to control FMF across all quartiles. Moreover, the association between economic growth and FMF proves the invalidity of the EKC hypothesis. Keeping in view the outcomes generated, the study recommended certain policy implications which could help G7 countries to secure SDG 07, SDG 12 and SDG 13 (climate action) directly, whereas SDG 08 and SDG 09 are indirectly.

Introduction: To date, a variety of studies have been published on the topic of long term energy system transition. Most studies on future energy systems, however, have a shorter time frame or adopt a supranational focus (e.g. the Energy Roadmap, 2011 or the World Energy Outlook, 2015). It then constitutes a sincere challenge to perform a national energy system transition study with as time horizon 2050 and covering a far-reaching transformation of the energy system. VITO, together with the FPB (Federal Planning Bureau) and ICEDD, performed a study to scrutinise the transition of the Belgian national energy system towards a future mix entirely based on renewable energy sources. The focus on renewable energy sources and on building a national energy system completely running on renewable energy can be traced back to three main concerns: – Climate change: Renewable energy sources (RES) are a major instrument in the fight against climate change as RES do not release (net) greenhouse gas emissions. – Security...

The level of economic income, population density and sources of energy supply is critical in assessing environmental quality. Recent empirical studies paid limited attention to the role of renewable (RE) and fossil energy (NRE) supply in carbon pollution regarding the Environmental Kuznets Hypothesis (EKC). Therefore, this study investigates the asymmetric relationships between carbon emissions and energy sources on the one hand and the environmental Kuznets hypothesis on the other hand for OECD countries, comprising countries with significant renewable energy supplies. The study includes the annual data from 1990 to 2021 and performs panel non-linear ARDL regression. The empirical results clearly show that RE and NRE have asymmetric effects on emissions in the long run but not in the short run. Both positive and negative shocks in RE reduce CO2 emissions in OECD economies, while asymmetric shocks in NRE substantially increase them. Increasing RE supply is clearly effective in reducing emissions. However, unlike most previous studies, this study shows that RE does not significantly reduce CO2 emissions in OECD countries. The error correction term (ect.) in the NARDL model is negative and significant. The magnitude of the term indicates that the system will return to long-term equilibrium about 4.2 years after any shock. Furthermore, we show that the EKC Hypothesis is supported in OECD countries. The turning point of the EKC is at $4085.77 per capita. Besides, regression with Driscoll-Kraay standard errors and Augmented Mean Group (AMG) estimator approach were used for robustness checks. The findings from the robustness check are consistent with the NARDL findings. Policies based on the promotion of a low-carbon and sustainable green environment should place greater emphasis on renewable resources even in OECD countries. Moreover, while many studies in the literature address asymmetric effects and EKC as energy consumption or utilisation, the novelty of this study is that it approaches the issue regarding energy supply with asymmetric effects for RE and NRE.

Purpose of the Study. The study aims to investigate various approaches to mitigating the impact of renewable energy sources on the stability of the power system and to determine the optimal combination of conventional and renewable energy sources to ensure stable and reliable energy supply. The effectiveness of different approaches to minimizing the impact of renewable energy on grid stability is evaluated. Materials and Methods. Methods of eigenvalue analysis and transient process modeling were used. Correlation and regression analysis methods were used to assess the impact of renewable energy sources (RES) on the stability of the energy system. Data from the system operator «Ukrenergo» were used, including power system load schedules (hourly, daily, seasonal). Data from the Ukrainian Hydrometeorological Center for the years 2023–2024 were used to model RES generation: data on solar radiation (hourly, daily) and wind speed (hourly, daily). Technical specifications of solar panels and wind turbines installed in Ukraine were also used. The QGIS software was utilized for geoinformation analysis. The study employed artificial neural network theory, optimization methods based on linear programming and logical production rules, as well as methods for assessing and regulating steady-state operating conditions of the system, taking into account energy storage devices. Results. The scientific novelty lies in the development of an innovative method for assessing the reduction of the impact of renewable energy sources on power system stability. The feasibility of using artificial neural networks to forecast wind and solar power generation was demonstrated, as well as the optimization of the model structure and parameters to improve forecasting accuracy. The optimal combination of conventional and renewable energy sources was determined to ensure stable and reliable operation of the power system. Practical Significance. Based on experimental and theoretical research, specific recommendations and solutions are provided aimed at ensuring the stability of the power system during the integration of renewable energy sources, including optimization of management, use of new technologies, and infrastructure development

Türkiye's limited use of renewable energy increases reliance on fossil fuels, widening the trade deficit and heightening energy security risks. This dependency also restricts economic growth, job creation, and worsens environmental damage due to higher carbon dioxide (CO2) emissions. This study examines the impact of renewable and non-renewable energy consumption (REC and NREC) on CO2 emissions in Türkiye from 1965 to 2023, using the asymmetric bootstrap nonlinear cointegration test. Results show that, in the long term, NREC significantly raises CO2 emissions more than REC, while in the short term, only NREC affects emissions. Based on these findings and Türkiye's renewable energy potential, key policy implications are identified. In conclusion, increasing domestic renewable energy production is a vital solution for reducing the trade deficit and energy security risks, aligning with the broader goal of a low-carbon future.

PurposeThe purpose of this study is to examine how renewable energy consumption moderates the relationship between inequality and carbon dioxide (CO2) emissions for Brazil, Russia, India, China and South Africa (BRICS). The nexus between energy use and geopolitical tensions has also been explored.Design/methodology/approachThis study has used distinctive data sets from 1990 to 2018 to explore the interconnections on emission, energy use, inequality and geopolitics. To do away with the difficulties related to heterogeneity and cross-sectional dependence (CD), this paper uses recent estimation methods that are robust to panel heterogeneity and CD.FindingsThe results of the panel augmented mean group (AMG) estimation and common correlated effects mean group (CCEMG) estimation verify the environmental Kuznets curve. The findings show that a 1% rise in Gini inequality leads to a 0.24% rise in the CO2 emission (AMG) method and a 0.17% rise in emissions CCEMG (method). As far as the moderating impact of renewable energy upon Gini measure of inequality is concerned, it is −0.10 AMG and CCEMG methods of estimation, respectively. However, the moderating impact of renewable energy on the geopolitical index leads to a mitigating impact on CO2 emissions, 0.55% decline in AMG method.Originality/valueThis research makes a distinctive contribution by investigating for the first time to the best of the authors’ knowledge the main pillars of sustainable ecological development in the context of the BRICS nations.

Achieving carbon neutrality target in the emerging economies: Role of renewable energy and green technology

Transitioning to renewable energy sources is highly important to reduce greenhouse gas emissions. In this study, we look at Germany, Sweden and Poland. These three countries have different energy policies and commitments. While there has been significant progress in adopting renewable energy across Europe, the effectiveness of these policies and their impact on reducing emissions is very different. Therefore, this research aims to assess how renewable energy affects GHG emissions in these countries and to provide insights into what strategies work best. Using a compiled dataset from 2003 to 2023, the study employs correlation, regression and time-series analysis. It is done to understand the relationship between renewable energy use and GHG emissions. In Germany and Sweden, there are strong negative correlations (−0.92 and −0.90), which indicate that increased renewable energy use significantly reduces emissions. However, in Poland, the correlation was much weaker (−0.23) and it suggested that the impact of renewables has been less effective. Digging deeper, our regression analysis highlighted that wind energy is particularly effective in reducing emissions, especially in Sweden. In Poland, while other renewable sources show promise, their impact is not yet statistically significant. Time-series forecasts suggested that Germany and Sweden will continue to see reductions in emissions, Poland will make gradual progress. These results show the need for continued policy support and best practice innovations in renewable energy.

With the rapid development of economy and society, China’s demand for water resources and energy is increasing, and the supply situation is becoming increasingly severe. The correlation and binding characteristics between the two have become increasingly prominent, which will become bottlenecks in sustainable economic and social development in the future. In this paper, the Liang–Kleeman method was used to screen the risk factors of water resources and energy security, and then four major risk factors were selected. Based on the cloud model, the water resource and energy security risk assessment models were constructed combined with the predicted values using GM (1,1) and Pearson III curve methods, and the water resource and energy security risks of 30 provinces (cities) in 2020 were quantitatively assessed. The risk assessment results showed that the risk level zoning of water resource shortage with different guarantee rates in most regions has undergone little change, but the spatial distribution was quite different, showing the characteristics of “low in the South and high in the North”. When the guarantee rate changed from P = 25% to P = 95%, the risk level of water shortage in Sichuan, Jiangxi, Hunan, Hainan, Jilin, Ningxia and Nei Monggol significantly increased, and the spatial distribution of energy security risk and water resource shortage risk was obviously inconsistent.

Researchers have found that despite a wide range of renewable energy sources in sub-Saharan Africa (SSA), renewable energy pricing policies have focused extensively on metered electricity energy, an early source of renewable energy. Supply, access, and regulation of price for metered electricity energy is mostly controlled by the governments across SSA. There is an increasing use of other renewable energy sources including portable electricity, solar power, and wind power. However, in SSA, the pricing for domestic renewable domestic renewable power such as portable electricity, rechargeable cookstoves, and portable solar power sources are left to the market to legislate, with energy prices dependent on forces of demand and supply and seldom on clear scientific models. This commercially focused energy market means businesses operating in the energy industry are more interested in profits and set prices relative to their market perceptions. The main problem with the energy market in SSA is the lack of a participatory approach where customers, businesses, the government, and other stakeholders are involved in the pricing for energy. We further note that lack of a participatory approach in energy pricing is a major challenge in uptake and demand for the domestic renewable energy sources. Through a systematic literature review, including a review of peer-reviewed journals, documents from energy utility companies, and published information on the websites for energy companies, this review analyzes the current application of energy price modeling and hypothesizes that mobile technology and a participatory pricing approach can improve pricing for domestic renewable power. Our initial literature review showed that energy price modeling had received little attention in SSA, especially for domestic renewable power energy sources. This paper, therefore, fills this gap by using a systematic literature review to consolidate knowledge on how energy price modeling has been applied in the SSA context. The systematic literature review results reveal four commonly used models: time series, artificial neural network, hybrid iterative reactive adaptive, and hybrid models. These energy pricing models are mainly applied to metered electricity power, the predominant source of energy in SSA. The literature hypothesizes that applying mobile technology to energy pricing and a participatory approach involving the consumers and energy supply businesses can move SSA closer to transitioning to renewable energy. Although other factors have hindered this transition, a participatory energy pricing approach incorporating relevant pricing models and market information creates potential solutions to these challenges. In the discussion, we hypothesize that a participatory approach to price modeling with the incorporation of mobile technology can be used at the household level to improve energy decision-making. For this to work, energy price modeling for domestic renewable sources should be simplified, user-friendly, and accessible to households. In conclusion, we recommend that SSA governments develop a more holistic view of energy price modeling to better harness the potential for domestic renewable energy sources.

The United Nations Climate Change Conference (COP26) recommended that the member nations enhance their technological progression and structural transformation to mitigate the problems of climate change. The BRICS-T countries consisting of Brazil, Russia, India, China, South Africa, and Turkey agreed to implement COP26's policy suggestions. These countries accounted for 40% of global greenhouse gas emissions in 2017, thus posing severe threats to the global environment. The current study explores the role of renewable energy, forest depletion, eco-innovations, and export diversification in impacting the ecological footprint for those BRICS-T countries. We further examine the moderating effect of eco-innovations on agriculture on the BRICS-T nations. The study contributes to the existing literature by providing newer empirical insights on how eco-innovations and export diversification, along with renewable energy, forest cover, and agriculture, affecting the ecological footprint in the BRICS-T nations. It utilizes novel empirical methods like parametric and non-parametric techniques to derive the short-run and long-run empirical results. The empirical findings based on the augmented mean group and the kernel regularized least square methods document that economic growth, agriculture value added, and forest depletion increase the ecological footprint. In contrast, renewable energy and eco-innovations decrease the level of ecological footprint. In the long run, a 1% rise in GDP leads to a rise in the ecological footprint by 0.64% using the augmented mean group (AMG) estimation. The mean marginal effects are - 0.27%, 0.29%, and 0.17% for renewable energy; agriculture and forest cover, respectively, using the kernel-based regularized least square methods. The study suggests that policies designed for controlling the ecological footprints focus on the use of energy efficient technologies, particularly in the agricultural sector.