Does aging affect renewable energy? The role of extreme events and economic development

Abstract

The world population structure and the global energy system are undergoing profound changes. Research on the relationships between population structure and energy changes is necessary for global sustainable development. This research mainly investigates the impact of aging on renewable energy development by using the data of 212 countries from 2000 to 2021 and further discusses the demand and supply mechanism between aging and renewable energy development. Then the heterogeneity analysis is introduced to seek the role of extreme events within the influence of aging on renewable energy development. The panel results support the positive impact of aging on renewable energy development. Moreover, the mechanism of industrial structure upgrading and consumer demand have been proved. Finally, the impact of aging on renewable energy development is different in the heterogeneity analysis of extreme events. In particular, the extreme events of earthquake and flood weaken the positive impact of aging on renewable energy development. This research shows that aging and coping with climate change are not antithetical, aging can contribute to the development of renewable energy development by inducing demand and changing industrial structure upgrading. The key is an active aging policy.