Energy transition
The current transition aims to reduce greenhouse gas emissions from energy quickly and sustainably, mostly by phasing-down fossil fuels and changing as many processes as possible to operate on low carbon electricity.
[2] A previous energy transition perhaps took place during the Industrial Revolution from 1760 onwards, from wood and other biomass to coal, followed by oil and later natural gas.
[26] It emphasises that the term "energy transition" was first used by politicians, not historians, to describe a goal to achieve in the future – not as a concept to analyse past trends.
[30][31][obsolete source] [dubious – discuss]The need for large amounts of firewood in early industrial processes in combination with prohibitive costs for overland transportation led to a scarcity of accessible (e.g. affordable) wood, and eighteenth century glass-works "operated like a forest clearing enterprise".
[32] When Britain had to resort to coal after largely having run out of wood, the resulting fuel crisis triggered a chain of events that two centuries later culminated in the Industrial Revolution.
[33][34] Similarly, increased use of peat and coal were vital elements paving the way for the Dutch Golden Age, roughly spanning the entire 17th century.
Depending on the country and the deployment scenario, replacing coal power plants can more than double the number of jobs per average MW capacity.
[57] Unlike Europes 2010s dependence on Russian gas, even if China stops supplying solar panels those already installed continue generating electricity.
[69] Some say that nuclear power plants are unlikely to be military targets,[70] but others conclude that civil NPPs in war zones can be weaponised and exploited by the hostile forces not only for impeding energy supplies (and thus shattering the public morale of the adversary) but also for blackmailing and coercing the decisionmakers of the attacked state and their international allies with a vision of man-made nuclear disaster.
[72][73][need quotation to verify] Africa has large reserves of many of these so-called "green minerals, such as bauxite, cobalt, copper, chromium, manganese and graphite.
[74] The African Union has outlined a policy framework, the Africa Mining Vision, to leverage the continent's mineral reserves in pursuit of sustainable development and socio-economic transformation.
[91] However, because of its heavy dependence on geography and the generally high environmental and social impact of hydroelectric power plants, the growth potential of this technology is limited.
By 2040, the grid must expand by more than 80 million kilometers to manage renewable sources, which are projected to account for over 80% of the global power capacity increase over the next two decades.
Failure to enhance grid infrastructure timely could lead to an additional 58 gigatonnes of CO2 emissions by 2050, significantly risking a 2°C global temperature rise.
Researchers have found that "costs for accommodating the integration of variable renewable energy sources in electricity systems are expected to be modest until 2030".
The majority of studies show that a global transition to 100% renewable energy across all sectors – power, heat, transport and industry – is feasible and economically viable.
Countries or land owners with resources – fossil or renewable – face massive losses or gains depending on the development of any energy transition.
[112] One way that oil companies are able to continue their work despite growing environmental, social and economic concerns is by lobbying local and national governments.
Divestment is defined as the removal of investment capital from stocks, bonds or funds in oil, coal and gas companies for both moral and financial reasons.
The transition is expected to reshape geopolitical power by reducing reliance on long-distance fossil fuel trade and enhancing the importance of regional energy markets.
[120] Coal mining is economically important in some regions, and a transition to renewables would decrease its viability and could have severe impacts on the communities that rely on this business.
[citation needed] Recently,[128] an energy crisis is upon the nations of Europe as a result of dependence on Russia's natural gas, which was cut off during the Russia-Ukraine war.
[citation needed] Amongst the key issues to consider in relation to the pace of the global transition to renewables is how well individual electric companies are able to adapt to the changing reality of the power sector.
For example, to date, the uptake of renewables by electric utilities has remained slow, hindered by their continued investment in fossil fuel generation capacity.
[142] Public demand for improved local environmental quality and government's aims to promote a green economy are found to be key drivers in Vietnam.
[141] Governments ambition to attract international support for green growth initiatives and public demand for a clean environment have been found to be drivers of the energy transition in developing countries, such as Vietnam.
The plan is to review each existing law on its climate merits, and also introduce new legislation on the circular economy, building renovation, biodiversity, farming and innovation.
Following the global financial crisis of 2008–2009, Germany eased the refinancing regulations on banks by giving out cheap loans with low interest rates in order to stimulate the economy again.
[153] During this period, the industry around renewable energies also started to experience learning effects in manufacturing, project organisation as well as financing thanks to rising investment and order volumes.
[155] Due to the high share of hydroelectricity (59.6%) and nuclear power (31.7%) in electricity production, Switzerland's per capita energy-related CO2 emissions are 28% lower than the European Union average and roughly equal to those of France.
