What does this research mean for the field?

Energy uncertainty increases renewable energy consumption at the firm level, with the magnitude of this effect varying by a country's oil trade status, energy diversification, and economic development. Novelty: ClaimNovelty.INCREMENTAL. Consensus alignment: ConsensusAlignment.NEUTRAL.

What question did this study set out to answer?

To examine how energy uncertainty affects renewable energy consumption among corporate firms across 25 countries.

August 28, 2026Studies in Economics and Finance

Energy uncertainty and renewable energy consumption: evidence from global firms

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Authors

MPM PattanaikIndian Institute of Technology Kharagpur JMJitendra MahakudIndian Institute of Technology Kharagpur

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Implication

Global firm-level analysis reveals energy uncertainty increases renewable energy consumption across 25 countries, highlighting clean energy adoption as a risk-mitigation strategy.

Key Points

To examine how energy uncertainty affects renewable energy consumption among corporate firms across 25 countries.
Gathered firm-level panel data from the LSEG database across 25 countries spanning from 2010 to 2022.
Applied ordinary least squares regression models controlling for industry and year fixed effects, supplemented by multiple robustness checks.
Energy uncertainty exerted a positive qualitative effect on corporate renewable energy consumption across sampled firms.
The positive relationship varied across sub-samples, differing significantly between oil-importing versus oil-exporting countries, levels of energy diversification, and developed versus emerging economies.

Cite This Study

Pattanaik et al. (2026) studied this question.

synapsesocial.com/papers/6a91467bd15324a1df3aa2a8 https://doi.org/10.1108/sef-07-2025-0529

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Implication

Global firm-level analysis reveals energy uncertainty increases renewable energy consumption across 25 countries, highlighting clean energy adoption as a risk-mitigation strategy.

Energy uncertainty and renewable energy consumption: evidence from global firms

Discussion

Member takes

Implication

Key Points

Cite This Study

Energy uncertainty and renewable energy consumption: evidence from global firms

Discussion

Member takes

Implication

Key Points

Cite This Study

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