Energy Transition Process and Sustainable Development
Energy and Economic Development
Energy which is the ability to do work has been described as the golden thread that connects the tripod of economic growth, social equity, and environmental sustainability. It is a critical enabler, which has provided advanced and developed economies through modern access to energy services the impetus that has underpinned their development and growth in economic prosperity. In developing countries, access to affordable and reliable energy services has been identified as a fundamental factor to reducing poverty and improving health, increasing productivity, enhancing competition, and promoting economic growth.
Energy is available in two major forms for economic development. It is available as either energy resources or energy commodities. Energy resources are natural resources which can be harvested to produce energy commodities – e.g., crude oil, natural gas, coal, biomass, hydro, uranium, wind, sunlight, or geothermal deposits. These...
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