The Energy Transition Index (ETI) clarifies the energy transition debate by benchmarking the energy system performance of 115 countries across three key priorities: energy security and access, environmental sustainability, and economic development and growth.
The index identifies a set of enablers that need to be aligned to improve readiness for the transition toward a future energy system that is secure, reliable, sustainable, and affordable. It highlights countries’ comparative strengths and improvement areas, and helps identify policy priorities alongside opportunities and threats to business.
The United States ranks 27th out of 115 countries on the ETI 2019. It ranks above other major energy consuming countries like China, India, Russia, Brazil, and Canada, as well as the largest fossil fuel producing countries. This can be attributed to the recent gains made on energy security, diversification of fuel sources, cost competitiveness, and reliability of supply.
However, it still lags behind advanced economies in Europe, primarily on account of high carbon intensity of the fuel mix, high energy consumption per capita, and high carbon emissions per capita.
Nevertheless, the United States has strong potential to do better. It has a vibrant innovation ecosystem, capital market depth, and a robust institutional framework, all of which will help facilitate a more effective energy transition.
Harsh Vijay Singh, Project Lead, Shaping the Future of Energy Platform, World Economic Forum, [email protected]