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Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (31 May 2021) | Viewed by 28781

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Guest Editor
Department of Business Technologies and Entrepreneurship, Vilnius Gediminas Technical University, 10223 Vilnius, Lithuania
Interests: economic growth; investments; innovations; sustainable development; sector development; energy security; energy effciency
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Special Issue Information

Dear colleagues,

The sustainable development of our planet depends on the use of energy. The increasing population of the world inevitably causes an increase in the demand for energy, which, on the one hand, threatens us with the potential to encounter a shortage of energy supply, and, on the other hand, causes the deterioration of the environment.

Therefore, our task is to reduce this demand through different innovative solutions (i.e., both technological and social). Social marketing and economic policies can also play their role by affecting the behavior of households and companies, by causing behavioral change oriented to energy stewardship, and an overall switch to renewable energy resources. This Special Issue provides a platform for the exchange of a wide range of ideas, which, ultimately, would facilitate in driving societies to long-term energy efficiency.

Prof. Dr. Manuela Tvaronavičienė
Guest Editor

Manuscript Submission Information

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Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • energy security
  • energy consumption
  • energy demand
  • renewables
  • technological innovations
  • social innovations
  • behavioral change
  • energy efficiency

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Published Papers (13 papers)

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Research

11 pages, 927 KiB  
Article
Optimization of the Structure of the Investment Portfolio of High-Tech Companies Based on the Minimax Criterion
by Alex Borodin, Manuela Tvaronavičienė, Irina Vygodchikova, Galina Panaedova and Andrey Kulikov
Energies 2021, 14(15), 4647; https://doi.org/10.3390/en14154647 - 30 Jul 2021
Cited by 12 | Viewed by 2191
Abstract
A model has been developed for the optimization of the share structure of an investment portfolio in high-tech projects supported by the leaders of the leading industry companies in Russia. Several indicators (financial leverage, integrated rating of companies, industry rating) were applied in [...] Read more.
A model has been developed for the optimization of the share structure of an investment portfolio in high-tech projects supported by the leaders of the leading industry companies in Russia. Several indicators (financial leverage, integrated rating of companies, industry rating) were applied in the decision support system for the shared distribution of investments. High-tech production is based on innovative technologies for saving resources, the resiliency of systems for transporting and transferring raw materials and finished products within Russia, so the main income will remain within the country. It is possible to export high-tech products, rather than raw materials, which will increase export revenues. Investors will invest in high-tech projects of Russian companies, taking into account the targeting of investment development. The guarantee is the stable financial position of the companies and the competitiveness rating. Methods: The authors propose a new approach that does not contradict modern rating scales, based on a hierarchical rating procedure and fuzzy logical rules that allow you to build an integral rating in the form of portfolio shares from the whole. A higher share shows an indicator of the higher investment attractiveness of companies. The industry rating is obtained based on the principle of the company’s first affiliation to the highest rating indicator. The final minimax portfolio is based on the initial ratings in a circular convolution and is then adjusted by industry. A software package has been compiled that allows the testing of the method of capital allocation between investment projects for the largest companies’ leaders of high-tech industries in Russia. This software uses the author’s method of multi-stage analysis, the evaluation of financial coefficients, the integral ranking and the correction of the solution taking into account the industry attributes. Results: The results are presented with computer-aided design (CAD) in the form of an algorithmized decision support system (DSS). The CAD system is based on a hierarchical algorithm, based on the use of a multi-level redistribution of investment shares of high-tech companies, taking into account the adaptation to the requirements of the return on investment portfolio. When compiling the portfolio, the minimax optimality criterion is applied, which allows the stabilization of the risk by purposefully redistributing funds between the companies involved in the analysis. The authors of the article have compiled an algorithm for the software implementation of the model. Features of the rating approach: the use of the author’s mathematical apparatus, which includes a hierarchical analysis of the ranked indicators of the financial and economic activity of companies, taking into account their priority, and the use of a minimax approach to obtain a rating assessment of companies, taking into account the industry attributes. Development: The proposed approach should be used for targeted financing of large industry companies engaged in the implementation of high-tech projects. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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19 pages, 1411 KiB  
Article
Household Electricity Generation as a Way of Energy Independence of States—Social Context of Energy Management
by Shahin Bayramov, Iurii Prokazov, Sergey Kondrashev and Jan Kowalik
Energies 2021, 14(12), 3407; https://doi.org/10.3390/en14123407 - 09 Jun 2021
Cited by 5 | Viewed by 2316
Abstract
The purpose of this study was to determine the degree of influence of alternative options for generating electricity by households on the level of energy independence of countries. The research methodology was based on the use of correlation–regression analysis, as well as adapted [...] Read more.
The purpose of this study was to determine the degree of influence of alternative options for generating electricity by households on the level of energy independence of countries. The research methodology was based on the use of correlation–regression analysis, as well as adapted non-linear optimization by choosing one of three scenarios for electricity generation by households for 20 countries. Regression analysis showed the dependence of a country’s energy security on households’ energy independence. It is determined that an increase in households’ energy production helps to reduce the level of energy dependence in developed countries. However, for developing countries, there is no such interrelation. The solution of the formulated problem of nonlinear optimization for the studied countries has demonstrated that the criterion of energy dependence is superior to the criterion of a country’s energy security. In the long term, this study can be deepened in the direction of assessing the effectiveness of household investment in electricity generation projects. The proposed results can be used by responsible persons in the field of economy and energy in order to determine the position of various policies, and use strategic levers and indicators that ensure an effective response to energy security challenges in the regional and global markets. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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17 pages, 888 KiB  
Article
Improving the Development Technology of an Oil and Gas Company Using the Minimax Optimality Criterion
by Alex Borodin, Manuela Tvaronavičienė, Irina Vygodchikova, Andrey Kulikov, Marina Skuratova and Natalia Shchegolevatykh
Energies 2021, 14(11), 3177; https://doi.org/10.3390/en14113177 - 28 May 2021
Cited by 15 | Viewed by 2053
Abstract
The article deals with the problem of adaptation of the Russian oil and gas company (Novatek, Russia) to the rapidly changing external environment, the avalanche of data from competitors, and the need to filter important information for business development and the prosperity of [...] Read more.
The article deals with the problem of adaptation of the Russian oil and gas company (Novatek, Russia) to the rapidly changing external environment, the avalanche of data from competitors, and the need to filter important information for business development and the prosperity of the industry as a whole. The approach is based on the system of integrated software monitoring of key business processes at the enterprise developed by the authors—from the formation of the idea of a new product to its implementation to paying customers. The scientific novelty lies in the use of an optimization model that allows for minimizing the maximum losses of the investor at all levels of decision-making, from the distribution of capital between companies, to the optimization of internal reserves to increase the competitiveness of the company. The toolkit is a minimax model that allows you to redistribute the shares of investor influence at the portfolio level, and then within the business processes of each company selected by investors, in order to achieve the optimal solution in accordance with the selected estimated indicators. Application of the well-known portfolio investment models of Markowitz, Tobin, Sharp, etc. is not possible due to the lack of necessary data on the basis of which the probabilistic parameters involved in the model are estimated. Even if we get them, it is necessary to take into account the level of correlation influence of the technological process in the composition of each subsystem, which is unacceptable for the data used, as it leads to a strong increase in errors. Using minimax and a systematic approach allows you to minimize such errors by choosing a balanced concentration of distributed assets for both the investor and the buyer. To this end, a three-way analysis of the company’s development was carried out and a technology for comprehensive improvement of the company’s activities was developed in the following areas: the company’s rating in the industry, financial condition, and interaction with counterparties using merchandising technologies. Tools for optimal image zoning at the Novatek site using the minimax approximation criterion have been developed. The technology provides a procedure for creating a comfortable mode of image perception based on high-tech visualization of merchandising, zoning of the screen area, and a mathematical approach that allows you to develop a calculation algorithm. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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23 pages, 1735 KiB  
Article
The Interdependencies between Economic Growth, Energy Consumption and Pollution in Europe
by Ane-Mari Androniceanu, Raluca Dana Căplescu, Manuela Tvaronavičienė and Cosmin Dobrin
Energies 2021, 14(9), 2577; https://doi.org/10.3390/en14092577 - 30 Apr 2021
Cited by 12 | Viewed by 1927
Abstract
The strong interdependency between economic growth and conventional energy consumption have led to significant environmental impact, especially with respect to greenhouse gas emissions. Conventional energy-intensive industries release increasing quantities every year, which has prompted global leaders to consider new approaches based on sustainable [...] Read more.
The strong interdependency between economic growth and conventional energy consumption have led to significant environmental impact, especially with respect to greenhouse gas emissions. Conventional energy-intensive industries release increasing quantities every year, which has prompted global leaders to consider new approaches based on sustainable consumption. The main purpose of this research is to propose a new energy index that accounts for the complexity and interdependences between the research variables. The methodology is based on Principal Component Analysis (PCA) and combines the key components determined into a score that allows for both temporal and cross-country comparisons. All data analyses were performed using IBM SPSS Statistics 25™. The main findings show that most countries improved their economic performance since 2014, but the speed of the improvement varies a lot from one country to another. The final score determined reflects the complex changes taking place in each country and the efficiency of the governmental measures for sustainable economic growth based on low energy consumption and low environmental pollution. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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16 pages, 1243 KiB  
Article
Composed Index for the Evaluation of Energy Security in Power Systems within the Frame of Energy Transitions—The Case of Latin America and the Caribbean
by Sergio Fuentes, Roberto Villafafila-Robles, Joan Rull-Duran and Samuel Galceran-Arellano
Energies 2021, 14(9), 2467; https://doi.org/10.3390/en14092467 - 26 Apr 2021
Cited by 9 | Viewed by 1757
Abstract
Energy transitions are transforming energy systems around the globe. Such a shift has caused the power system to become a critical piece of infrastructure for the economic development of every nation on the planet. Therefore, guaranteeing its security is crucial, not only for [...] Read more.
Energy transitions are transforming energy systems around the globe. Such a shift has caused the power system to become a critical piece of infrastructure for the economic development of every nation on the planet. Therefore, guaranteeing its security is crucial, not only for energy purposes but also as a part of a national security strategy. This paper presents a multidimensional index developed to assess energy security of electrical systems in the long term. This tool, named the Power System Security Index (PSIx), which has been previously used for the evaluation of a country in two different time frames, is applied to evaluate the member countries of the Latin American Energy Organization, located within the Latin America and the Caribbean region, to measure its performance on energy security. Mixed results were obtained from the analysis, with clear top performers in the region such as Argentina, while there are others with broad areas of opportunity, as is the case of Haiti. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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21 pages, 6892 KiB  
Article
The Dilemma of Long-Term Development of the Electric Power Industry in Kazakhstan
by Elena Vechkinzova, Yelena Petrenko, Yana S. Matkovskaya and Gaukhar Koshebayeva
Energies 2021, 14(9), 2374; https://doi.org/10.3390/en14092374 - 22 Apr 2021
Cited by 2 | Viewed by 1980
Abstract
This article discusses the current state and trends in the development of the electric power industry in Kazakhstan. An analysis of the energy supply and energy intensity of Kazakhstan’s GDP is provided in this paper. The results of the foresight of the risks [...] Read more.
This article discusses the current state and trends in the development of the electric power industry in Kazakhstan. An analysis of the energy supply and energy intensity of Kazakhstan’s GDP is provided in this paper. The results of the foresight of the risks and opportunities of the energy industry are described. This study identifies the relationship between the traditional development of the energy industry and the development of alternative energy sources. In addition, the work examines the risks and consequences of various trends in the development of national and global energy. Previous studies have shown that government efforts are insufficient in developing an alternative energy sector in Kazakhstan. The research results show that there is a need to transform energy production from traditional sources towards greater efficiency and environmental friendliness, as well as the active involvement of the business community in the development of an alternative energy market. This is expected to attract more investments and transfer technologies to maintain the country’s position in the energy market of the future. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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16 pages, 4071 KiB  
Article
Households’ Energy Autonomy: Risks or Benefits for a State?
by Marko Milojević, Paweł Nowodziński, Ivica Terzić and Svetlana Danshina
Energies 2021, 14(7), 2026; https://doi.org/10.3390/en14072026 - 06 Apr 2021
Cited by 3 | Viewed by 2080
Abstract
The purpose of this study is to determine the impact of households’ energy autonomy on a country’s energy independence level, to identify prospects and risks. To assess the economic efficiency of households’ energy autonomy, the study used a modeling method based on maximizing [...] Read more.
The purpose of this study is to determine the impact of households’ energy autonomy on a country’s energy independence level, to identify prospects and risks. To assess the economic efficiency of households’ energy autonomy, the study used a modeling method based on maximizing the net present value, determining the average notional cost of energy efficiency and the level of energy independence in 20 countries. Based on the analysis of the volumes of electricity consumption by households in the studied countries for the period 2000–2018, it was revealed that in developed and developing countries there is an increase in this indicator. Diagnostics of the investment attractiveness of the installation and operation of energy systems for households makes it possible to determine the boundaries of a possible increase in the level of their energy autonomy. The scientific novelty of the research is represented by the proposed methodological approach, which makes it possible to assess the level of energy dependence of countries, possible deviations, and an increase in households’ energy autonomy in relation to the risk limit of energy dependence. The proposed methodological approach allowed the authors to prove the positive impact of increasing households’ energy autonomy for most developed countries. The most positive effect is characteristic of the leading countries in fossil energy market. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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20 pages, 2325 KiB  
Article
Innovation Management in Polish Real Estate Developers in the Renewable Energy Sources Context
by Marcin Sitek and Manuela Tvaronavičienė
Energies 2021, 14(6), 1702; https://doi.org/10.3390/en14061702 - 18 Mar 2021
Cited by 9 | Viewed by 2055
Abstract
This paper analyses innovative activities, including renewable energy sources (RES) in the housing market, the motivations for their introduction, effectiveness, benefits, limitations and management—which are open and current problems of Polish and international sustainable construction. This problem is part of a research gap [...] Read more.
This paper analyses innovative activities, including renewable energy sources (RES) in the housing market, the motivations for their introduction, effectiveness, benefits, limitations and management—which are open and current problems of Polish and international sustainable construction. This problem is part of a research gap concerning, among others, the role of developers and entities responsible for introducing energy innovations into housing construction. The aim of the paper is to analyse innovations, with particular emphasis on RES, introduced by residential developers in Poland in the context of global trends. The work is based on the results of surveys conducted among developers of the primary housing market. The research of 130 questionnaires received from entities such as multi-storey buildings and multi-family houses in Poland, was carried out on a nationwide sample using the CATI Computer Assisted Telephone Interview method. The results of the survey research were summarized by setting research hypotheses, which were verified using the significance test based on the Laplace normal distribution. The research conducted has shown that residential developers in Poland point at, among others, competitive pressures, concern about the quality of products and services offered, increasing market share or satisfaction and increasing customer requirements. This clearly shows that the implementation of innovation is perceived through the prism of increasing competitiveness. Furthermore, developers operating in the more competitive markets—nationwide and on the market of the five largest Polish cities, usually larger companies, showed a greater willingness and even the need to introduce innovation in their activities. In the study, developers as one of the barriers of introducing innovations, apart from the lack of adequate support, mainly from public entities in the field of, inter alia, appropriate law favouring the implementation of innovations and financial support, indicate difficulties of the client’s market manifested by the lack of knowledge and identification of needs in the field of innovation, and the lack of willingness to pay a higher price in regard to the product with higher innovation level. In the paper, the authors recommend developers, among others, to implement in the management process the identification of possible to implement innovations and the customers’ needs in innovations with education in the field of possible innovations and its benefits. The article indicates the need to intensify the implementation of innovations in housing projects in order to increase competitiveness and to meet the European Union’s requirement regarding the use of renewable energy sources. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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17 pages, 1889 KiB  
Article
Modeling and Management of Power Supply Enterprises’ Cash Flows
by Darya Pyatkina, Tamara Shcherbina, Vadim Samusenkov, Irina Razinkina and Mariusz Sroka
Energies 2021, 14(4), 1181; https://doi.org/10.3390/en14041181 - 23 Feb 2021
Cited by 2 | Viewed by 2328
Abstract
The purpose of the study is to assess the efficiency of cash flow management at power supply companies of the CIS (Commonwealth of Independent States) countries. A methodological approach to cash flow forecasting with the use of linear and polynomial regression has been [...] Read more.
The purpose of the study is to assess the efficiency of cash flow management at power supply companies of the CIS (Commonwealth of Independent States) countries. A methodological approach to cash flow forecasting with the use of linear and polynomial regression has been developed. The study is based on the data provided by 12 power supply companies operating in CIS member countries. Forecasting based on the generated polynomial models of multiple regression of cash flow for the power supply companies under study confirms the strong possibility of extrapolating the studied trends to future periods. Compared to the linear model, the polynomial one confirms higher values of the determination coefficients for the majority of power supply companies. The projected volumes of cash inflow, cash outflow, and net cash flows of power supply companies with the application of the described polynomial multiple regression models have a fairly high degree of approximation. The correlations between operating cash flows and outflows, between total cash inflow and outflow of the majority of power supply companies are high. The low level of synchronization between cash inflows and outflows of the companies under study is associated with the specifics of their financial and investment activities and the cash flow management policy. It has been proven that energy enterprises’ financial stability significantly depends on the synchronization and uniformity of cash flows. The proposed methodological approach allows identifying enterprises by the criterion of riskiness from the standpoint of the synchronization and homogeneity of their cash flows. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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17 pages, 1723 KiB  
Article
Measuring the Implementation of the Agenda 2030 Vision in Its Comprehensive Sense: Methodology and Tool
by Edvins Karnitis, Janis Bicevskis and Girts Karnitis
Energies 2021, 14(4), 856; https://doi.org/10.3390/en14040856 - 06 Feb 2021
Cited by 3 | Viewed by 1744
Abstract
The contribution of the energy sector to human development (HD) is one of the aspects that requires measuring growth of the overall sustainability of HD. The UN program, Agenda 2030, has defined the vision of advanced development by introducing a sustainable HD [...] Read more.
The contribution of the energy sector to human development (HD) is one of the aspects that requires measuring growth of the overall sustainability of HD. The UN program, Agenda 2030, has defined the vision of advanced development by introducing a sustainable HD paradigm, the balanced integrated development paradigm, in three dimensions: economic, social and environmental. The overall performance of countries is not currently assessed; there are several proposals for measuring sustainable HD level, but none have become widely accepted due to their weaknesses. The selected indirect measurement method reflects the interlinkage of development dimensions in real cases of low data availability. By combining the strengths of existing proposals and eliminating their weaknesses, the measuring methodology has been created and an appropriate tool—the Advanced Human Development Index (AHDI)—has been designed, which ensures unity and concordance of all included comprehensive dimension indices. The calculations confirm the accuracy and simplicity of the measurement. The proposed methodology and AHDI, as a simple, balanced index that is based on result-oriented headline indices, provide the big picture, which will be transparent, acceptable and usable for experts, politicians and the global community to assess the achieved development levels and to make strategic decisions for the coming period. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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24 pages, 3627 KiB  
Article
Problems of Innovative Development of Oil Companies: Actual State, Forecast and Directions for Overcoming the Prolonged Innovation Pause
by Yana S. Matkovskaya, Elena Vechkinzova, Yelena Petrenko and Larissa Steblyakova
Energies 2021, 14(4), 837; https://doi.org/10.3390/en14040837 - 05 Feb 2021
Cited by 11 | Viewed by 2212
Abstract
The study of the rates of innovative development of various sectors of the modern economy makes it possible to determine the existence of a scientific and practical problem, eliciting the need for urgent identification of the reasons for non-innovative development of Oil and [...] Read more.
The study of the rates of innovative development of various sectors of the modern economy makes it possible to determine the existence of a scientific and practical problem, eliciting the need for urgent identification of the reasons for non-innovative development of Oil and Gas Companies and development of the directions for innovation development. Based on a number of methods, including methods of graphical analysis, time series forecasting, construction of linear trends, correlation analysis and scenario forecasting, the authors stated the fact of the serious depth of the problem of innovative insufficiency in the oil sector in comparison with other sectors and they built six scenarios for the development of these companies. The applied methods made it possible to not only come to the conclusion that with the current level of investment in R&D in the oil and gas sector, Oil Companies may find themselves in difficult conditions, especially if breakthrough technologies show themselves in the non-hydrocarbon energy of the future, but also made it possible to determine the most important directions for the development of Oil Companies, including the formation and development of the oil and gas industry 4.0, marketing strategic management of the activities of these companies. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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14 pages, 1189 KiB  
Article
Power Market Formation for Clean Energy Production as the Prerequisite for the Country’s Energy Security
by Manuela Tvaronavičienė, Evgeny Lisin and Vladimir Kindra
Energies 2020, 13(18), 4930; https://doi.org/10.3390/en13184930 - 20 Sep 2020
Cited by 10 | Viewed by 1980
Abstract
The paper analyzes the main issues of power market development for clean energy production within the broader framework of ensuring the country’s energy security. In addition, special attention is paid to the technologies aimed at reducing emissions of toxic substances and greenhouse gases [...] Read more.
The paper analyzes the main issues of power market development for clean energy production within the broader framework of ensuring the country’s energy security. In addition, special attention is paid to the technologies aimed at reducing emissions of toxic substances and greenhouse gases by the fossil-fired power plants. Even though the future electricity markets would most likely depend on the high shares of renewable energy sources (RES) in the electricity system, energy efficiency such as the one based on the near-zero emission technologies might also play a crucial role in the transition to the carbon-free energy future. In particular, there are the oxy-fuel combustion technologies that might help to reduce the proportion of unburned fuel and increase the efficiency of the power plant while reducing the emissions of flue gases. Our paper focuses on the role and the place of the near-zero emission technologies in the production of clean energy. We applied economic and mathematical models for assessing the prospects for applying oxy-fuel combustion technology in thermal power plants, taking into account the system of emission quotas and changes in the fuel cost. Our results demonstrate that at the current fuel prices, it is advisable to use economical combined cycle gas turbines (CCGT). At the same time, when quotas for greenhouse gas emissions are introduced and fuel costs increase by 1.3 times, it becomes economically feasible to use the oxy-fuel combustion technology which possesses significant economic advantages over CCGT with respect to the capture and storage of greenhouse gases. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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18 pages, 1585 KiB  
Article
The Causal Connection of Natural Resources and Globalization with Energy Consumption in Top Asian Countries: Evidence from a Nonparametric Causality-in-Quantile Approach
by Hafezali Iqbal Hussain, Muhammad Haseeb, Manuela Tvaronavičienė, Leonardus W. W. Mihardjo and Kittisak Jermsittiparsert
Energies 2020, 13(9), 2273; https://doi.org/10.3390/en13092273 - 05 May 2020
Cited by 20 | Viewed by 3045
Abstract
Given the significance of energy conservation as a prime objective of environmental sustainability, countries all around the world are keen to identify significant factors that lead to the augmentation of energy utilization. Considering the rising emphasis of economies in utilizing natural resources to [...] Read more.
Given the significance of energy conservation as a prime objective of environmental sustainability, countries all around the world are keen to identify significant factors that lead to the augmentation of energy utilization. Considering the rising emphasis of economies in utilizing natural resources to attain higher levels of globalization, the current research was aimed at investigating how the returns of natural resources and globalization affect energy consumption in top Asian economies. In doing so, the study emphasized the nonlinear relationship among the variables and applied the novel nonparametric method of causality in quantile to identify the quantile-based causal connection of natural resources and globalization on the returns and volatility of energy utilization in selected Asian countries. Moreover, the presence of nonlinearity in the variables was tested by the Brock- Dechert-Scheinkman test (BDS test), which confirmed that all variables showed nonlinear behavior. Furthermore, the findings of quantile cointegration confirmed a nonlinear long-run relationship of natural resources and globalization with energy utilization. The prime findings of causality in quantile revealed that the returns of natural resources and globalization had a significant causal effect on the returns of energy consumption in all countries. On the other hand, the volatility in energy consumption concluded no causal association with the returns of natural resources and globalization in any of the studied Asian countries. The findings are beneficial for the policymakers to formulate policies that will help to reduce the level of energy consumption. Full article
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency Ⅱ)
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