Energy Transition and the Economy: A Review Article

Abstract

The global energy sector is in a period of transition, during which time it is expected that renewable and low-carbon energy sources, such as wind and solar, will replace traditional fossil fuels, including oil, gas, and coal. The energy transition is happening not only to limit the environmental impact of fossil fuel production and consumption but also to ensure energy security, reliability, access, affordability, and sustainability. The importance of the energy transition has been amplified by recent events, notably the Russian-Ukraine conflict. Economic, financial, and trade sanctions against Russia, and in particular its oil and gas industry, have forced countries to find new suppliers in the short term, but also to investigate new and more sustainable sources to guarantee long-term energy security. Given the importance of energy, it is perhaps not unexpected that there is a considerable body of recent academic literature, particularly over the last 4–5 years, studying what industries, consumers, governments, and markets can do to help bring about a faster energy transition. In this paper, we provide a review of the literature that pertains to the economic aspects of the energy transition. While our initial search of the literature is targeted at uncovering all relevant articles on the subject, we focus most of our discussion on the most influential articles in prominent journals and articles published in this journal—Energies. This review is intended to help identify active topics and potential research gaps and provide future direction, so we hope it will prove useful to the readers and authors interested in this topic.

Recent trends on the application of phytochemical-based compounds as additives in the fabrication of perovskite solar cells

“…1 In order to meet the rising energy demand in a sustainable manner, a shift from conventional fossil-fuel-based energy resources to abundant renewable energy resources has been emphasized. [2][3][4][5][6] The utilization of renewable and low-carbon energy resources is expected to reduce dependence on fossil fuels, mitigate climate change, ensure energy security, cushion nations against possible price fluctuations caused by disruptions of energy supplies, and guarantee sustainability. 7 Solar energy is one of the most abundant renewable energy resources that can be harnessed to provide much-needed electrical energy through photovoltaic (PV) technology.…”

Considering a Subscription to Butane Gas: A Beneficial or Detrimental Choice? An In-Depth Examination of the Energy, Economic, And Ecological Implications in a Highly Critical Sector in Morocco

“…In the current era, and given the prevailing circumstances, the logical replacement for butane use would typically be electricity. However, two critical considerations must be taken into account when considering this transition [22,23]. Firstly, the continual advancements in electrical and electronic technologies, facilitating the performance of tasks traditionally handled by gas-powered counterparts.…”

From green to circular chemistry paved by biocatalysis

“…The transition to renewable energy sources (such as hydroelectric, wind, solar, and geothermal) is absolutely necessary to be able to generate the enormous and growing amounts of energy needed to drive industrial economies. 16 Biofuels obtained from renewable biomass should still be considered as another sustainable solution for the overall transition to clean energies. The production of these biofuels should fulfil two key premises: (i) based on waste feedstock from non-edible agro-resources, (ii) obtained by means of fully clean and sustainable transformation/separation processes.…”