Securing tomorrow: the energy security and renewable energy development nexus
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2024-07-11
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en
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With energy being the foundation of our modern lifestyle, achieving adequate levels of energy security is crucial for countries (Carfora et al., 2022; Cergibozan, 2022). Renewable energy offers a sustainable alternative, stimulating the transition to a more sustainable world economy. This thesis aims to analyse the bidirectional relationship between different concepts of energy security and renewable energy development, while taking into account income-level differences. Data from 161 countries for a time period spanning from 2000 and 2019, will be examined using a two-stage least squares model (Iamsiraroj, 2016). The results indicate a significant bidirectional relationship between renewable energy and energy security. On the global level, the empirical findings report that renewable energy development lowers energy imports. In addition, various energy security indicators have a (significant) negative impact on renewable energy development. The findings present novel insights, revealing that the relationship between energy security and renewable energy varies across income groups, illustrating that low and middle-income countries have significant barriers to switch to renewable energy sources (Marques & Fuinhas, 2011, 2012).
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Faculteit der Managementwetenschappen