Unveiling the impacts of geothermal energy growth on food security in EU27 region: an empirical analysis.

Abstract

There are many advantages of geothermal energy, as an environmental friend resource. This heat radiation emanating from beneath the earth's surface presents man with good opportunities to harness it and makes a good level of agricultural food production and its processing in the EU region. The primary objective of this research is to examine the impact of geothermal energy on agri-food supply among the 27 European countries (EU27), within the time frame 1990 to 2021. The study adopted the autoregressive distributed lag (ARDL), and the findings from this study revealed that agri-food supply can increase significantly among the 13 European countries (EU13 emerging economies), leveraging on geothermal energy and economic growth variables than in the EU14 emerged economies. Furthermore, the outcome of this study showed that there could be a significant decrease in the food products coming from agricultural practices among the 13 European countries (EU13 emerging economies), due to an ineffective population density than in EU14 emerged economies. Furthermore, fossil fuel and institutional quality contribute more positively to the agri-food supply in the EU14 emerged economies than in the EU13 emerging economies. This results in an outcome that means that the agri-food supply among the EU13 emerging economies could be greatly boosted by replacing fossil fuel consumption with geothermal energy, and this facilitates the attainment of the European energy goals by the year 2030. Substituting fossil fuels with geothermal will also assist in minimizing the risks of environmental pollution and climate change. All projected calculations were seen as valid in this study, and this was confirmed by the three estimators adopted which are the pooled mean group, the mean group, and the dynamic fixed effect. This study, therefore, recommends that the 27 European countries should lay more emphasis on geothermal energy production as this will help in ensuring food security in the region. Policymakers and other government authorities as well as local and foreign investors should make more investments in geothermal energy resources as this study has proven that this will lead to agri-food security and sustainability. Not only this, it will as well curb the incidence of climate change and environmental pollution.