A generational shift
For a century, we have had a strong economy based on the production and consumption of fossil fuels. Transitioning to an economy based on renewables and low-carbon energy sources won't happen overnight, but how long will it take?
The energy transition timeline differs for each country because although there is a common destination - net zero - each country has a different starting point and journey.
We estimate that it will take roughly a generation (around 30 years) for most nations to fulfil the energy transition and deliver net zero.
The economic incentive
We know delivering net zero is essential to protect our planet and its ecosystems. But energy transition is not just driven by the climate emergency and our morals - there's also a robust economic case.
Wind and solar provide lower-cost electricity than traditional energy generation methods.
Embracing these sustainable methods will make energy generation more regional and localised, creating more local jobs, generating local income tax, and reducing our reliance on imports.
Protecting our planet and transforming our economies
Shifting our economies and infrastructure away from fossil fuels will take time and effort, but there are real incentives to create a world powered by renewable and low-carbon energy.
Energy transition not only helps us address the climate emergency - it also provides transformative economic activity all around the world.
Key points
- For most nations around the world, the energy transition will take around a generation (30 years) to transition from a century of using fossil fuels for power, transport, and industry.
- Energy transition timescales vary because we all have different starting points and journeys.
- Solar and wind are cost competitive, so our incentive to deliver net zero is not only moral and environmental but also economic.
- Energy will become more regionalised and localised, creating local jobs, boosting local economies, and reducing our reliance on imports.