Since the invention of the steam engine, energy sources have been central to economic activity. Mobility and manufacturing, key drivers of economic development, have long relied on coal, oil, and gas. While alternatives like wind, solar, and nuclear power have existed, coal and oil have remained the more affordable options. It is only in recent decades, spurred by the looming threat of climate disaster, that the world has begun to seriously explore these alternatives regardless of the cost. As focus shifted to wind and solar, economies of scale made the transition increasingly economically viable.
The intermittency of wind and solar energies further accelerated advancements in energy storage, with hydrogen emerging as a promising solution. The shift from fossil fuels to renewable energy will lead to a dramatic redistribution of geopolitical power. Oil-rich nations will no longer enjoy the luxury of being rentier states, as countries like India and China, heavily dependent on energy imports, find the dream of energy security more achievable. This book examines this pivotal transformation in the economic history of Homo sapiens.
