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

Mantas Švažas ()
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Mantas Švažas: Vytautas Magnus University

Chapter Chapter 1 in Energy Transformation in Lithuania, 2026, pp 1-22 from Springer

Abstract: 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:

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-032-02987-4_1

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DOI: 10.1007/978-3-032-02987-4_1

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