The energy transition represents the global energy sector’s evolution from fossil-based energy production and consumption to a zero-carbon energy system. Several important aspects should be considered when describing the energy transition. These include:
- A portfolio approach: At this time, there is no one technology which can successfully mitigate the excess carbon dioxide and other greenhouse gasses contributing to climate change. A portfolio approach of multiple technologies and behaviors is encouraged and underway.
- Use of proven techniques while others are being developed: The energy transition will take decades. The application of proven technologies are critical to continued momentum in carbon reduction, including CCUS, use of natural gas and further development of wind and solar energy. These technologies are helping create low carbon markets, infrastructure, skills and public awareness.
- Continued research and development: Investment in the development of technologies is critical to the progress and success of the energy transition. Development, testing and scale-up of technology can take decades and it is imperative that continued research and investment into low carbon and carbon reduction technologies continue and grow to offer more potential methods to mitigate excess carbon dioxide.
There are numerous challenges associated with the energy transition, and climate change mitigation will be costly and require unprecedented collaboration between key stakeholders. Addressing climate change will provide new infrastructure and updated facilities, create new jobs and skills, enable the development of new technologies and digital applications and offers humanity the opportunity to increase social equity at a local, national and global scale.