COVID-19 and energy: Influence mechanisms and research methodologies

Abstract

Considering the important role of energy in modern society, it is imperative to study the current situation and future development of energy under the influence of COVID-19. This paper identifies the current research hotspots, proposes future research directions accordingly, and summarizes the methodologies via a bibliometric analysis. Five research hotspots include COVID-19 and the changes of energy consumption, COVID-19 and the fluctuation of the energy market, COVID-19 and the development of renewable energy, COVID-19 and climate impacts caused by energy consumption, and COVID-19 and the energy policy. According to the influence mechanism of COVID-19 on each hotspot, the pandemic has exerted short-term influencs on energy consumption, energy price, and air pollution. Meanwhile, the pandemic could have a far-reaching impact on the renewable energy sector, climate, and energy policy. In addition, the main methodologies are reviewed, revealing that regression analysis and scenario analysis are commonly used as the quantitative and qualitative methods, respectively. Moreover, given the nonlinear relations between the pandemic and energy, an artificial neural networks model is used to enhance the prediction efficiency of energy demand and price. Finally, policy implications for obtaining clean, low-carbon, safe, and efficient energy in the context of COVID-19 are proposed.