Challenges of the Global Energy Transition

The global energy transition from fossil fuels to non-carbon sources is not going to be a smooth and incremental process, and it will create new geopolitical challenges. Remaking the entire energy system, involving changes in how we use, store, transport, and generate energy, is a massive undertaking that needs to be accomplished within a generation. Transitioning to a clean energy economy also requires addressing energy security concerns and ensuring popular support for expensive changes. The transition poses risks of supply-demand imbalance, price volatility, and geopolitical leverage for traditional fossil fuel producers.