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            IN ENERGY


        The World Economic Forum defines an effective energy transition as “a timely
        transition towards a more inclusive, sustainable, affordable and secure energy

        system that provides solutions to global energy‑related challenges, while
        creating value for business and society, without compromising the balance of the
        energy triangle”     1

              s per Intergovernmental Panel on Climate        In the following sections, the discussion on these two
              Change (IPCC), United Nations body for assessing  significant sectors focuses on how renewables can play
        Athe science related to climate change; human         a crucial role in the energy transition.
        activity is likely responsible for about 1˚C of the global
        warming above pre-industrial levels. They predict that   Power Generation:
        global warming is likely to reach 1.5˚C between 2030   Fossil fuels continue to negatively impact air, soil and
        and 2052 if current activities continue . The carbon   water pollution and contribute to direct CO  emissions.
        budget will get depleted in 10-17 years  in order to limit   Hence, renewable energy forms the critical component
        global warming within 1.5 ˚C, with the current emission   of a low carbon economy both in the generation and in
        levels. Hence, there is an urgent need to limit CO    the end-use application.
                                                              Sustainability is one of the key drivers of the current
        The power generation sector and transportation sector   energy transition that the world is going through.
        are the two main sectors which account for about 50%   The energy sector is changing its landscape with
        of the total CO  emissions . Hence, these areas must   more renewable generation share boding well for a
        be looked at critically for implementing the energy   sustainable future. Solar PV and Wind projects make
        transition. However, it does not take away the required   headlines world over for higher capacities and
        attention from the remaining sectors such as iron     record-low costs, making them the natural choice for
        & steel, cement, heavy transportation, aviation and   broader adoption, thus paving the way for a smoother
        shipping, where solutions are still evolving.         and a sustainable energy transition.

        1   Fostering effective energy transition, 2020 edition, World Economic forum
        2   World Economic Forum, Energy transition 101-Getting back to basics for transitioning
              to a low carbon economy

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