Article: The impact of energy security risks on energy consumption Journal: International Journal of Innovation and Sustainable Development (IJISD) 2018 Vol.12 No.3 pp.258 - 270 Abstract: This study assesses the impact of energy security risks on energy consumption by analysing a panel of data from 64 countries from 1980 to 2014. We find that rising energy security risk increases oil, natural gas, nuclear power, and wind power consumption and decreases hydroelectric power consumption. We also find that countries with greater energy security risks have increased the relative share of wind energy in their total energy consumption. These results suggest that energy security risk leads to diversified energy consumption through the adoption of renewable energy technologies. Furthermore, gross domestic product and population growth also result in overall increases in the energy consumption levels. This result is consistent with the results found in the existing literature. However, when we analyse the consumption of specific energy sources, solar and wind power consumption levels are shown to decrease in response to population growth. Inderscience Publishers - linking academia, business and industry through research

Title: The impact of energy security risks on energy consumption

Authors: Clarence Tolliver; Moinul Islam; Kong Joo Shin; Shunsuke Managi

Addresses: Graduate School of Engineering, Department of Urban and Environmental Engineering, Kyushu University, 744 Motooka, Nishi-ku, Fukuoka 819-0366, Japan ' School of Engineering, Urban Institute, Kyushu University, 744 Motooka, Nishi-ku, Fukuoka 819-0366, Japan ' School of Engineering, Department of Urban and Environmental Engineering, Kyushu University, 744 Motooka, Nishi-ku, Fukuoka 819-0366, Japan ' School of Engineering, Department of Urban and Environmental Engineering, Kyushu University, 744 Motooka, Nishi-ku, Fukuoka 819-0366, Japan

Abstract: This study assesses the impact of energy security risks on energy consumption by analysing a panel of data from 64 countries from 1980 to 2014. We find that rising energy security risk increases oil, natural gas, nuclear power, and wind power consumption and decreases hydroelectric power consumption. We also find that countries with greater energy security risks have increased the relative share of wind energy in their total energy consumption. These results suggest that energy security risk leads to diversified energy consumption through the adoption of renewable energy technologies. Furthermore, gross domestic product and population growth also result in overall increases in the energy consumption levels. This result is consistent with the results found in the existing literature. However, when we analyse the consumption of specific energy sources, solar and wind power consumption levels are shown to decrease in response to population growth.

Keywords: energy security; energy security risk; energy consumption; renewable energy resources.

DOI: 10.1504/IJISD.2018.091522

International Journal of Innovation and Sustainable Development, 2018 Vol.12 No.3, pp.258 - 270

Received: 01 Dec 2016
Accepted: 09 May 2017
Published online: 04 May 2018 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article

Title: The impact of energy security risks on energy consumption

Keep up-to-date