Global Geopolitical Changes and New/Renewable Energy Game

Xuemeng Zhao and Weilun Huang ()
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Xuemeng Zhao: School of Finance and Trade, Wenzhou Business College, Wenzhou 325035, China
Weilun Huang: School of Finance and Trade, Wenzhou Business College, Wenzhou 325035, China

Energies, 2024, vol. 17, issue 16, 1-27

Abstract: This study analyzes the impact of global geopolitical changes on new/renewable energy (NRE) policies and their roles in enhancing national energy security, elevating international stature, and influencing the global energy market. Using game theory, it reveals how NRE policies promote technological innovation, diversify energy supply, and strengthen international collaboration, thus advancing the global energy system towards a low-carbon transition and improving international energy governance. NRE policies significantly enhance national energy security by reducing dependency on single energy sources, facilitate the global shift to low-carbon energy, and intensify international cooperation. The effectiveness of these policies in driving energy transformation is notable, and they are expected to remain crucial for global energy security and sustainable transition. Recommendations include strengthening the stability and security of energy supply chains through enhanced oversight, increasing investment in R&D and innovation to reduce costs, fostering international cooperation for better policy coordination, and implementing diversified energy policies to encourage the adoption of NRE. These measures will address challenges from global geopolitical dynamics and drive the global energy system towards sustainability and efficiency.

Keywords: new/renewable energy policy; renewable energy; global geopolitics; energy security; international cooperation; game theory (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
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