Energy Security and the Importance of Transitioning to Renewable Options
Nilgün Aytekin // 14.10.2024
Energy security has become a critical focus in today’s rapidly changing global energy landscape. The concept refers to the uninterrupted availability of energy sources at an affordable price. Recent geopolitical tensions, market fluctuations, and the ongoing shift from fossil fuels to renewable sources highlight the importance of a diversified, sustainable energy mix in ensuring long-term stability.
The Role of Fossil Fuels in Energy Security
Historically, fossil fuels—coal, oil, and natural gas—have been the dominant sources of energy, powering industries, transportation, and households worldwide. However, their supply is often linked to geopolitical risks. For example, Europe’s dependence on Russian natural gas exposed vulnerabilities, leading to severe disruptions during political conflicts, such as the ongoing Russia-Ukraine war. As of 2021, the European Union imported 40% of its natural gas from Russia, a figure that sparked concern when conflicts threatened this critical supply route.
Transition to Renewable Energy
Renewable energy sources, such as solar, wind, and hydropower, offer a solution to the vulnerabilities posed by fossil fuels. The shift towards these sources reduces dependence on geopolitically unstable regions and ensures a cleaner, more sustainable energy supply.
According to the International Energy Agency (IEA), global investments in renewable energy are set to rise significantly, with 90% of electricity generation expected to come from renewable sources by 2050. Moreover, the share of electric vehicles is rising, with global sales increasing from 2% in 2019 to 10% in 2022, a trend likely to peak oil demand in transportation by 2025.
The transition to renewable energy not only strengthens energy security but also promotes economic growth. In 2022, oil and gas companies earned a record $4 trillion, with a significant portion of this profit being redirected towards clean energy projects. This strategic shift is driven by both environmental policies and the realization that renewable energy offers long-term cost savings, stability, and reduced carbon emissions.
As a summary;
- Renewable energy capacity: Expected to account for 90% of electricity generation by 2050.
- Electric vehicle sales: 10% of global vehicle sales were electric in 2022, compared to just 2% in 2019.
- Investment in clean energy: The oil and gas sector generated $4 trillion in 2022, a portion of which is being invested in renewable energy development.
As the world transitions towards renewable energy, the benefits extend beyond environmental protection. Renewable sources enhance energy security by reducing dependence on politically unstable regions and diversifying supply chains. In the face of global energy crises and growing demand, renewable energy offers a stable, sustainable, and economically viable solution for the future.
References
Fatih Birol: Küresel enerji krizi ve yenilenebilir enerji yatırımları hakkında açıklamalar (https://www.bloomberght.com/uluslararasi-enerji-ajansi-baskani-kuresel-enerji-kriziyle-yeni-fosil-yakit-yatirimlari-daha-buyuk-r-2308448)
IEA raporları ve yenilenebilir enerjiye geçişin enerji güvenliği üzerindeki etkileri (https://gazeteoksijen.com/ekonomi/iicec-baskani-birol-gunes-enerjisine-ilgi-artiyor-209107)
