The convergence of energy consumption is crucial for sustainable global development. Energy is not only an essential input for economic growth but a key to sustainable growth. The study explores the interconnection between the consumption of energy and economic growth as well as evaluates the origins and underlying aspects of energy convergence, such as urbanization, technology, and energy efficiency using secondary data of the World Bank, the International Energy Agency, and the Global Carbon Project for the period 2000–2022. The study categorically investigates whether access to reasonably priced and dependable energy supports economic growth and has any bearing on employment and standard of living by utilizing relevant databases at the country level. It also examines the problems that resource depletion and greenhouse gas emissions bring with energy convergence. The regression results show that economic development and energy use have a positive association, which indicates that more economic development leads to higher energy consumption. Urbanization and technology also have a positive impact on economic development. Additionally, economic development is associated with increased emissions, a sign of dependency on carbon-intensive sectors. The study concludes by highlighting the significance of energy transition programs for sustainable development and outlining the policy and strategic ramifications of energy usage convergence.

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Energy Use Convergence and Economic Development: A Case Study of India

  • Promila Das,
  • Manohar Giri

摘要

The convergence of energy consumption is crucial for sustainable global development. Energy is not only an essential input for economic growth but a key to sustainable growth. The study explores the interconnection between the consumption of energy and economic growth as well as evaluates the origins and underlying aspects of energy convergence, such as urbanization, technology, and energy efficiency using secondary data of the World Bank, the International Energy Agency, and the Global Carbon Project for the period 2000–2022. The study categorically investigates whether access to reasonably priced and dependable energy supports economic growth and has any bearing on employment and standard of living by utilizing relevant databases at the country level. It also examines the problems that resource depletion and greenhouse gas emissions bring with energy convergence. The regression results show that economic development and energy use have a positive association, which indicates that more economic development leads to higher energy consumption. Urbanization and technology also have a positive impact on economic development. Additionally, economic development is associated with increased emissions, a sign of dependency on carbon-intensive sectors. The study concludes by highlighting the significance of energy transition programs for sustainable development and outlining the policy and strategic ramifications of energy usage convergence.