Is the energy crisis accelerating the transition to renewable energies?

Abstract

The thesis aims to form a compelling argument for the significant impact of the energy crisis on the financing and implementation of renewable energy sources. By exploring various policies and reports, the thesis seeks to shed light on the role played by the energy crisis in spurring the accelerated adoption of renewable energy technologies. The examining of policies such as the Inflation Reduction Act in the United States, the “Fit for 55” package, Green Deal and REPowerEU in Europe, and ambitious energy targets set worldwide, contribute to the assertion that the energy crisis created an urgency for governments to take action towards clean energy sources. The research in this thesis draws upon comprehensive publications such as the World Energy Outlook by the International Energy Agency (IEA) and reports by the International Renewable Energy Agency (IRENA), in addition to an array of publications. The findings in the research based on a range of perspectives and sources strengthen the thesis’ argument, and offer insight into the funding, implementation and governmental actions accelerating the shift towards renewable energy technologies.