We know that God wants us to love Him, but does He also want us to fear Him? The answer, if we examine the Scriptures, is clearly, YES. The fear of the Lord is not a relic of the Old Covenant; Christians are instructed and reminded to fear God in the New Testament also.
Therefore, my beloved, as you have always obeyed, so now, not only as in my presence but much more in my absence, work out your own salvation with fear and trembling... (Philippians 2:12 ESV)
But why? If God is love, and if we are saved, why would God want us to fear Him?
The answer is, because the fear of God protects us from sin and its consequences, which is what our loving God wants.
So the church throughout all Judea and Galilee and Samaria had peace and was being built up. And walking in the fear of the Lord and in the comfort of the Holy Spirit, it multiplied. (Acts 9:31 ESV)
Contrary to popular belief and teaching, it is not merely gratitude and feelings of love for God that keeps Christians from sinning and leads them to obey Him---at least it shouldn't be, according to the Bible---but also rightful fear. The fear comes from knowing that if we choose to despise Him, God has the power to chasten (discipline) us, and even to take away our eternal life, if we stubbornly persist in willful sin after coming to be in Christ, by refusing to do what we know He wants us to do and what He commands us. (See Hebrews 10:26-31)
For Christians, the fear of God should be a holy fear---not a guilty terror, as the unsaved have. We know that God loves us, and that we are saved because of His love and His mercy---forgiven of our sins and assured of eternity with Him when we die, through our faith in Jesus Christ---for which reason we have joy, confidence, and peace. But we should also bear in mind that this promise is not unconditionally guaranteed to us, and that if we choose to despise the Lord and refuse to repent, He is able to take away what He gave us. (See John 15:5,6,9-11; Romans 11:19-22)
That knowledge is wisdom, and it helps to keep us from doing evil things that we would otherwise consider or take lightly---even preserving our physical lives at the cost of disobeying the Lord.
The fear of the LORD is a fountain of life, that one may turn away from the snares of death. (Proverbs 14:27 ESV)
(Of course, if you have been following my threads, you can see the relevance of this exhortation and reminder: If you don't fear God so as to obey Him in the easy times, much less will you be faithful to Him in the worst of times, when your physical life is on the line. Don't fool yourself!)
This is what Jesus said, speaking to His own disciples:
"I tell you, My friends, do not fear those who kill the body, and after that have nothing more that they can do. But I will warn you whom to fear: fear Him who, after He has killed, has authority to cast into hell. Yes, I tell you, fear Him!" (Luke 12:4,5 ESV)
The fear of the Lord produces good things: It leads us to turn away from evil, helps us to deny the strongest temptations of sin, and produces a rightful reverence for God in us that we won't have without it.
"A son honors his father, and a servant his master. If then I am a Father, where is My honor? And if I am a Master, where is My fear? says the LORD of hosts to you, O priests, who despise My name?" (Malachi 1:6 ESV)
(Where indeed, O people of God?)
The faith of those Old Testament saints that we so admire was coupled with the fear of the Lord, and it was their strength to withstand temptation and their motivation to obey God, for which He blessed and rewarded them.
The God of the Old Testament and the God of the New are the very same God. He has not changed His attributes or His attitudes. If we believe that He has, we deceive ourselves. God still wants His people to fear Him, just as He wants us to love Him. The love of God is to keep His commandments, and the fear of Him helps us to obey Him, which we would be more lax about if we did not---potentially to our own spiritual peril.
Yes, God is love, and part of that love is to protect His sheep. This is why He wants and commands us to fear Him; because He knows that mere gratitude to Him and the desire to do what pleases Him because we love Him is not enough to turn us away from strong temptation. We need to fear Him also, just as we would fear a parent who we know loves us, but also has the ability to punish us for doing what we know we know we ought not to.
God says that He is love because that is the attribute by which He desires to be known by man, not because He doesn't have other attributes in equal measure: It is not a matter of what He is, but of what He chooses to show.
God has the potential for as much wrath as He has for love (the evidence being that the unsaved will suffer His wrath for all eternity just as the saved will enjoy His peace and joy for all eternity); but He desires to show more mercy and love to man than He does justified wrath.
Like a jewel with equal facets, the one that faces the light is the one that shines; but that doesn't mean that the jewel has only one facet. The man-ward facet of God is love; but it's quite obvious from the Scriptures that that is not His only attribute, and that God's mercy and patience toward man are not infinite. There will be an end to His patience with impenitent men, and there will also be wrath for those who choose not to continue in His kindness after receiving His mercy.
David was a man who loved God with all of his heart, soul, mind and strength, a man who delighted in the Lord, and who was a man after God's own heart---not because he was perfect, but because he was sincere. And David, who knew God very well, feared God, and wrote much about the fear of the Lord and its benefits.
The Christian who loves God, as David loved God---who is keeping His commandments to the best of his or her ability and who is doing what he or she knows to be His will and pleasing to Him to the best of his or her ability, and desires to do the same, will not have guilty fear, for perfect love casts out the fear of rightful punishment for willful sin. A Christian with a good conscience toward God for the aforementioned reasons will not have this kind of fear; but we should all walk in the fear of our awesome God, who has the power both to chasten us and to condemn us. As long as we have our sinful nature, the fear of God is both essential and relevant.
"I tell you, My friends, do not fear those who kill the body, and after that have nothing more that they can do. But I will warn you whom to fear: fear Him who, after He has killed, has authority to cast into hell. Yes, I tell you, fear Him!"
(Luke 12:4,5 ESV)
Shadrach, Meshach, and Abednego answered and said to the king, "O Nebuchadnezzar, we have no need to answer you in this matter. If this be so, our God whom we serve is able to deliver us from the burning fiery furnace, and He will deliver us out of your hand, O king. But if not, be it know to you, O king, that we will not serve your gods or worship the golden image that you have set up." (Daniel 3:16-18 ESV)
And another angel, a third, followed them, saying with a loud voice, "If anyone worships the beast and its image and receives a mark on his forehead or on his hand, he also will drink the wine of God's wrath, poured full strength into the cup of His anger, and he will be tormented with fire and sulfur in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment goes up forever and ever, and they have no rest, day or night, these worshipers of the beast and its image, and whoever receives the mark of its name."
Here is a call for the endurance of the saints, those who keep the commandments of God and their faith in Jesus.
(Revelation 14:9-12 ESV)