Does Peak Technology Combat Energy Poverty in Developing Countries?

The results of this study highlight the importance of advanced technologies in combating energy poverty. The study focses on a group of 99 developing countries spanning from 2000 to 2021. It applies different estimation methods such as OLS with fixed effects, Driscoll-Kraay with fixed effects and Gneralized Least Squares (GLF). The main conclusion is that advanced technologies significantly reduce energy poverty in developing countries. Similarly, this effect remains robust by changing the estimation technique, including the GMM and Tobit models. Furthermore, we observed that the impact of advanced technologies on all alternative measures of energy poverty remains robust to the main result. By adding natural resources in the model, it is apparent that natural resources have an inverse impact on energy poverty. By taking into account the heterogeneity of income level of each country, the effect is more important in high-income developing countries. Followed by intermediary and middle-income countries. In the underdeveloped world, we discovered an inverse impact of technological readiness on the consumption of energy. Policy suggestions are provided. The paper balances the existing literature by examining how peak technology influences energy poverty in emerging markets.