International Journal of Advanced Multidisciplinary Research and Studies
Volume 4, Issue 6, 2024
The EU's Energy Crisis: Shifting from Fossil Fuels to Renewable Solutions Amid Geopolitical Tensions
Author(s): Efrem Issac Tesfu
DOI: https://doi.org/10.62225/2583049X.2024.4.6.3482
Abstract:
The European Union (EU) has faced a profound energy crisis between 2020 and 2024, driven by post-pandemic economic recovery, surging energy demand, and geopolitical tensions, particularly the Russia-Ukraine conflict. This article explores the multifaceted nature of the crisis, analyzing the EU's strategic responses, including energy diversification, renewable energy adoption, and policy reforms. Using a mixed-methods approach, this study evaluates the effectiveness of these strategies and their implications for achieving long-term energy resilience. The findings underscore the need for comprehensive and inclusive energy policies that balance sustainability with security. The European union (EU) faces a complex energy crisis with roots in the COVID 19 pandemic, the disruption in global energy prices in the post Covid period and exacerbated by the war in Ukraine. These crises disrupt the EU energy markets highlighting the need for more sustainable and secure energy future. Rapid post-pandemic economic recovery led to a concomitant surge in energy demand, exceeding producers' existing capacity. The EU heavy reliance on the Russian gas imports exposed vulnerabilities, prompting the EU to implement a multi-pronged strategy to ensure energy security and High energy prices, geo-political uncertainty, renewables integration and social impact remains to be the biggest challenges.
This article explores the crisis's multifaceted origins, ranging from pandemic-induced demand slumps to geopolitical tensions with Russia amid the Ukraine war. It also will analyse the strategies adopted by the EU to address the crisis, including diversification of energy sources, energy efficiency measures, and fostering renewable energy development. The article concludes by discussing the long-term implications for the EU's energy security and the need for a comprehensive energy transition plan.
Keywords: European Union, Energy Crisis, Energy Security, Energy Diversification, Energy Efficiency
Pages: 608-613
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