Influence of the Share of Renewable Energy Sources on the Level of Energy Security in EECCA Countries

Abstract

In this study we aimed to determine the extent to which changes in the share of renewable energy sources, their structural complex, and the level of energy security in Eastern Europe, Caucasus and Central Asia (EECCA) countries in the medium- and long-term are interconnected. The study was performed through modeling and determination of the structural characteristics of energy security in the countries. The methodology of the approach to modeling was based on solving the problem of nonlinear optimization by selecting a certain scenario. For the study, the data of EECCA countries were used. The ability of EECCA countries to benefit from long-term indirect and induced advantages of the transformation period depends on the extent to which their domestic supply chains facilitate the deployment of energy transformation and induced economic activity. This study provides an opportunity to assess the degree of influence of renewable energy sources on the level of energy security of countries in the context of energy resource diversification. The high degree of influence of renewable energy sources on energy security in the EECCA countries has been proven in the implementation of the developed scenarios for its increase. Energy security is growing. At the same time, its level depends not only on an increase in the share of renewable sources but also on the structure of energy resources complex of countries, and the development of various renewable energy sources. Therefore, today the EECCA countries are forced not only to increase the share of renewable energy sources but also to attach strategic importance to the structural content of their energy complex.

Keywords

• energy consumption
• energy efficiency
• renewable energy
• sustainable development
• transition scenario