Energy Transition: Paving The Way For A Greener Future

Abstract

The concept of 'energy transition' embodies a strategic shift from conventional fossil fuels to cleaner and more sustainable energy sources. It represents a visionary pathway toward a future where humanity can thrive without compromising the delicate balance of the planet's ecosystems. This transformative journey acknowledges the imperative of reducing carbon dioxide emissions, mitigating climate change and fostering energy security. The road map to a sustainable future through energy transition is a multifaceted endeavor that spans technological innovation, policy reform and societal engagement. As societies worldwide confront the challenges posed by climate change, the need to transition from fossil fuels to renewable and low carbon dioxide energy sources has become paramount. This transition involves a meticulous orchestration of efforts aimed at curbing greenhouse gas emissions, enhancing energy efficiency and ensuring the equitable distribution of energy access. This study looks into the technological and financial implications of an accelerated energy transition by 2050, with the help of new data on renewable energy. It is suggested that this shift will be largely driven by energy efficiency and renewable energy technologies, which have a significant relationship. Favorable profitable conditions, quickly accessible resources, scalable technology and significant socio-economic benefits provide support to the energy transition. © 2023 Emerald Publishing Limited: All rights reserved.