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The Need for Energy Transformation: Causes, Opportunities, and Barriers

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  • Mantas Švažas

    (Vytautas Magnus University)

Abstract

The military conflict in Ukraine in 2022 encouraged developed countries to accelerate the transformation of the energy system. Rising energy prices have made wind and solar more competitive. In addition, investments in green hydrogen production as well as Power to X solutions have increased. These processes fundamentally change the economy of the country and regions—new jobs are created, available biological resources are better used, and electricity storage solutions are developed. Hydrogen production technologies allow the use of cheaply produced energy at a time when its demand is reduced. Later, hydrogen can be used to produce either as electricity or fuel for other equipment with hydrogen engines. The new energy concepts are fundamentally different from the energy canons established in the last century. The traditional model of an energy system, based on fossil fuels, was built on the following principles:

Suggested Citation

  • Mantas Švažas, 2026. "The Need for Energy Transformation: Causes, Opportunities, and Barriers," SpringerBriefs in Economics,, Springer.
    • Handle: RePEc:spr:spbchp:978-3-032-02987-4_1
    DOI: 10.1007/978-3-032-02987-4_1
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