Boosting green energy transition to tackle energy poverty in Europe

Global COVID-19 pandemic exacerbated household energy poverty in many countries. During the latter half of 2021, as the situation gradually improved, a new threat emerged in the form of energy prices' inflationary surge, exacerbated by the Russian-Ukrainian conflict. This paper attempts to provide pragmatic projections of energy poverty in European countries over the next five years. Furthermore, the study will investigate whether nations that actively support the transition to green energy will be advantaged to mitigate the consequent adverse effects on the energy poverty situation. Findings indicate that several factors contribute to energy poverty in European countries, and the short-term outlook does not look good. As a result of the inflationary rise in energy prices and the lingering economic effects of the pandemic as well as geopolitical tensions, households face significant obstacles to achieving energy security and affordability. A glimmer of hope exists, however, for countries that prioritize and boost green energy transitions. Despite recent adversity, these nations may have an advantage in recovering more quickly. A shift to renewable energy sources may contribute to a more resilient and stable energy landscape by protecting countries from the volatile nature of traditional energy markets and geopolitical conflicts. Green energy infrastructure is essential for addressing the immediate and long-term challenges of energy poverty. The government and policymakers are urged to consider sustainable energy transition not only as a means of combating climate change, but also as an essential component of economic recovery and social well-being, particularly in the context of unpredictable global events.