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There is need to address the hurdles to the adoption of renewable energy.

Fossil fuels, particularly coal, have been around as the principal source of energy for hundreds of years. The use of coal and oil has resulted in increased air pollution with heightened CO2 levels, global warming and water pollution. This impact on climate change is spurring efforts to find scalable and distributable alternatives to fossil fuel. These alternate energy sources can offer revolutionary changes such as electrification, de-carbonization and climate change control.

This paper throws light on the major forces impacting the demand and supply of fossil fuels and the challenges to increasing adoption of renewable sources of energy. With innovation scaling at great speed resulting in emerging technology solutions in the energy sector focused on the use of electricity, the societies in general are moving towards electricity as the secondary energy source.

Jan Erik Johansson

Advisor, Upstream COE, at TCS Global Oil & Gas Practice

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