Fostering Resilient Energy Systems: Policy Strategies Coupling Public Energy R&D, Sustainability, and Global Innovation
Salman Wahab, Wei Wang, Zeeshan KhanThe recently concluded United Nations (UN) climate change conference (COP29) highlighted the need to promote a resilient energy system with a focus on improving energy storage and green energy zones. But these promises are still far from reality due to the poor clean‐energy infrastructure and grid capacity, financing issues, high capital cost of low‐carbon energy projects, and the slow adoption of renewable energy, which leave both developed and developing economies vulnerable to energy disruption and dependent on fossil fuels. A more solid and resilient energy system is needed to meet the problems of today’s climate change. This study developed an energy resilience index that considers the environment, energy efficiency, and economic security of national energy systems using the entropy approach. Unlike composite indicators that are based on equal weights or single dimensions, the index is based on different important indicators data and provides a 0 to 1 score for renewable energy supply (0.387), renewable energy consumption (0.357), energy productivity (0.155), and carbon intensity (0.102) and provides policymakers with the practical information to measure national performance, identify the weakest resilience dimension, and monitor the progress of policy. Environmental innovation, accumulated stock of environment‐related public research and development (R&D), environmental policy stringency (EPSI), renewable electricity generation, CO 2 productivity, income, globalization, and trade openness raise energy resilience, while the lagged effect of financial development is negative. The results differ for the resilience distribution, with EPSI and the R&D knowledge stock being the most important for the least resilient economies, while renewable electricity, environmental innovation, CO 2 productivity, and income are the most important for the more resilient economies. Separate policies, stricter environmental regulation, and sustained public R&D for lagging economies, faster renewable deployment, clean‐technology innovation for leading economies, and green finance that transfers credit to clean‐energy investment are recommended in the study.