Geopolitical risk and renewable energy consumption: Evidence from a spatial convergence perspective

Using country -level data from 1990 to 2020, this study investigates the various convergence of renewable energy consumption (REC) and the effect of geopolitical risk (GPR) on the conditional spatial beta convergence. We find that there is a gamma-convergence, spatial sigma convergence, absolute spatial beta convergence and conditional spatial beta convergence in terms of REC. GPR is negatively associated with the conditional spatial beta convergence of REC. The fluctuation of oil price can be an underlying mechanism behind the correlation of GPR and the conditional spatial beta convergence of REC. Our study supplements the prior relevant literature from a spatial convergence perspective to analyze the relationship between GPR and REC. The spatial convergence of REC is conductive to energy security by increasing innovation and efficiency, reducing productive costs and enhancing energy diversity. This sheds light on the growing attention to energy security on the pathways towards carbon neutrality.