Energy Transition: Dynamics and Prospects

Energy is one of the most critical commodities of the modern society. The human use of energy has evolved through the course of history. Particularly since the Industrial Revolution of the eighteenth century, the availability of refined and efficient energy resources has been critical to the growth of societies. In the twenty-first century, the international energy scenario is experiencing a profound transition as the world is experiencing a major shift in terms of energy resources and their utilization. In recorded history, there have been two major energy transitions. The first one was a shift from wood and biomass to coal during the eighteenth-century Industrial Revolution, and the second one was the twentieth century transition from coal to oil and gas. The twenty-first-century energy transition is manifested as sustainable energy transition or zero-carbon energy transition. This paper examines the unfolding energy transition in terms of its technological and policy dimensions. It also investigates the prospects in terms of opportunities and the faced challenges.