The world of energy is always undergoing transition, but the nature of the current phase of the transition is subject to a wide spectrum of interpretations that are often colored by bias and aspirations for a particular future end-point. In its simplest form, the energy transition is characterized by changes in the global fuel mix, the rapid growth in renewable energy, emerging new transportation patterns and the rapid implementation of new energy technologies. The drive for energy decarbonization is often perceived to underpin all these changes, but in many cases decarbonization is just a result of an ongoing trajectory led by technological innovation. In response to this transition, resource holders have renewed their efforts to adopt new strategies, while in consuming countries energy companies and the financial sector realign to a new reality. Is the energy transition going according to plan and how will the world of energy look in future years?
Understanding the Energy Transition
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