Changes in the Global Energy Market in the Energy Transition Era

Changes in the global energy market in the energy transition era are very significant, marked by a shift from fossil energy sources to renewable energy. This phenomenon is fueled by increased awareness of climate change, government policies that support clean energy, and technological developments that facilitate this transition. Renewable energy, including solar, wind and hydro, is increasingly sought after as a more environmentally friendly alternative. One of the main factors in this transition is the ever-increasing investment in renewable energy technologies. According to a report by the International Renewable Energy Agency (IRENA), global investment in renewable energy will reach $300 billion in 2022, showing a significant increase compared to previous years. countries such as China, Germany, and the United States are leading in this investment with increasingly advanced and effective clean energy infrastructure. On the other hand, dependence on fossil fuels is also starting to shrink. Many countries are committed to reducing carbon emissions, with a target of reducing greenhouse gas emissions by 40-50% by 2030 compared to 2005 levels. These steps encourage energy companies to evolve and adapt to an environment that increasingly demands clean energy. The use of digital technology is also accelerating changes in the global energy market. Smart grids and the Internet of Things (IoT) enable more efficient energy management. By utilizing big data, energy companies can predict demand and manage supply more accurately. The existence of electric vehicles (EV) also drives demand for clean energy, reducing dependence on fossil fuels. Government regulations and supportive energy policies play an important role in this transition. Many countries implement subsidies for renewable energy and impose carbon taxes on companies that still rely on fossil fuels. This policy not only provides incentives for clean energy producers but also encourages consumers to switch to more sustainable energy solutions. Changes in consumer behavior are also no less influential. People are increasingly concerned about the environment, choosing products that are more environmentally friendly, and demand for clean energy is increasing. This is driving the growth of green finance, where more investment is directed towards projects that support environmental sustainability. Competition in the energy market is experiencing significant changes. Traditional energy companies are trying to adapt to innovation and align their strategies to meet new challenges. On the other hand, startups that focus on green technology receive great attention from investors, creating an ecosystem conducive to innovation. Changes in the global energy market in this era of energy transition face complex challenges but also broad opportunities. The balance between economic growth, energy needs and environmental responsibility is very important. Collaborative initiatives between governments, industry and civil society will be key to creating more sustainable and efficient energy systems around the world.