Fossil Fuel Transition Strategies

Declining costs, technological advances, and rising energy security concerns have resulted in renewable energy recently usurping coal and gas as the lowest-cost way to reliably power most countries’ economies. This cost advantage has been even more pronounced in the past year given the significant volatility in fossil fuel prices due to Russia’s war in Ukraine. To reliably transition the coal fleet, minimize the build-out of new gas, and mitigate customer and ratepayer impacts, utilities and governments are taking advantage of new financing and reinvestment opportunities that can help ease and support the transition to clean energy.

Through research and interviews with experts around the globe, RMI has compiled examples and data to describe how power sector leaders are leveraging fossil transition strategies to make progress on energy transition priorities. Specifically, this report:

• Highlights why innovation is critical to making progress in the transition from fossil fuels
• Explains emerging global trends and associated challenges and opportunities
• Describes how fossil fuel transition strategies can advance seven key outcomes for successful global energy transformation
• Articulates the edge of innovation for different countries and where attention is needed most
• Spotlights case studies to better illustrate what is being attempted across the industry and to share the experiences of practitioners

This report is part of RMI’s Global Energy Transformation Guide.