Full Title: Trilemma and Transition: the Momentum to Break Barriers
Author(s): DNV
Publisher(s): DNV
Publication Date: February 15, 2023
Full Text: Download Resource
Description (excerpt):
After a complex and difficult year, the energy industry has competing priorities in 2023, as energy security comes to the fore. But we also see a transition in the energy trilemma, as the energy industry recognizes and invests in a decarbonized future in which energy sustainability, affordability, and security all pull in the same direction. We see an industry confident for growth in the year ahead, driven by progress in the energy transition. Indeed, energy professionals say the energy transition keeps accelerating, through both a pandemic and an energy crisis. But this has left markets striving to keep up, as the industry reports significant barriers to implementation across transmission and distribution systems, supply chains, permitting and licensing, financing, infrastructure, and the workforce.
Momentum is building to break these barriers as societies increasingly feel the effects of climate and energy crises, and as bottlenecks become more acute in holding back progress. The industry is clear that policy and regulatory change is needed to enable markets, but energy companies are also responding, developing new business models and building coalitions to trigger the value chains that are needed to get markets moving.
DNV’s global report Trilemma and Transition: The momentum to break barriers draws on DNV’s timely survey of more than 1,300 senior energy professionals and in-depth interviews with industry leaders, from across power, renewables, oil and gas, and energy-consuming industries.