Monitoring Desk) The energy transition is underway, and a whole new global energy system is emerging. This new system is increasingly powered by renewable energy sources, such as solar, wind, and hydropower, as well as from nuclear, gas, and other sources. This shift is being driven by a host of factors, including falling costs for renewable energy, the need to address climate change, and a commitment to energy access for all.
The shift is being driven by both governments and businesses. Governments are increasingly implementing policies to support the deployment of renewable energy, such as renewable energy targets and feed-in tariffs. In addition, countries are increasingly committing to reduce their greenhouse gas emissions and to raise energy efficiency standards.
At the same time, businesses are moving towards cleaner energy sources as they make decisions that make economic sense. Companies are investing in renewable energy, such as solar and wind, as well as energy storage, to reduce their energy costs and improve energy security.