The Energy Economy

There has never been a more critical time to address the energy economy

The demand for energy globally is currently growing at a rate of 1.4% annually, with significant growth being seen in developing countries of 2.65%, based on reports produced by the World Council. This is astonishing, as we are trying to reduce the demand on energy and emissions, but the faster we are reducing the emission levels, we are increasing it with the growth of demand across the world.

The world’s primary source of energy is fossil fuel. Renewable technologies, are gaining more and more investment as the clock ticks. Matching this demand, in my opinion will never be met unless something radical happens. The aggregated renewable percentage is significantly low and our long term strategies to maximise the renewable or biomass strategy do not seem to be fast enough.

Energy is the heart of our life and modern industries need this as their major ingredient. What would our world be without such a thing? Education, food, manufacturing, transport, I could go on and on. Energy is one of the critical factors of climate change and it is also one of the factors impacted by climate change with increased heating and cooling. It is one never ending circle of impact that is spiraling out of control.

There are two areas that impact on the economy of energy and they are the demand on energy and the availability. Both of these have to be aligned and there is a significant impact on one without the other. The energy economy is a very complex subject as it is the single biggest resource. The world needs to take note of this very critical time, and the resource needs to be given the attention it deserves.

Its interesting that even I can’t discuss the energy economy without dragging in the subject of ‘climate change’. World leaders are meeting at the COP 26 in November 2021 and we have to hope and pray that they address the thoughts of the public and consider how they are going to address factors such as the ever increasing economy and the never decreasing emissions this world is currently seeing.

Over the years I have seen trends towards energy management and the energy supply industry start to focus more and more on strategies to address the economy. The areas to focus on are energy supply and to increase availability of renewable energy. By deploying more renewable energy supply ports into the industry we could tip the balance. We will never slow down the ‘growth’ of the energy economy, however we can really impact on the renewable aspects.

The way to improve on this balance and then tip the balance in the favour of sustainability is through COLLABORATION, this is the only way of bringing the experts together. I have been working with the renewable sector over the last 12 months across the world and engaging with environmentalists and it has been the most refreshing thing to do. This collaboration provides awareness to us all and to understanding the importance of what our individual goals are. I never had an understanding of the economy and its drivers until I worked with other experts. Even though you could say it is common sense, who am I to say whether it is common sense or calculated thinking.

I often talk about my three pronged approach of energy management, renewables and the environment which I promote within my website and my global directory of experts.

For me, this simple model demonstrates how we can physically make an impact of this global energy economy. We all have our work to do:

• The Energy Management Expert – To drive down an organisations’ energy consumption
• Renewable and Generation Expert – To deliver increased renewable energy that is cost efficient and with a sustainable process.
• The Environmental Expert – To deliver additional ways to provide carbon absorption and increase the circular economy (see a previous article explaining this).
• Influencers – To deliver awareness and influence direction.
• Technology – To deliver technologies that have proven capabilities and sustainability to use less energy.

These groups, all working together, sharing knowledge and bringing the expertise to the forefront with an unselfish need for gain, would make a significant impact on today’s world. For me, this would give us the prize of many more years on this planet without any loss of life.

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