The Transition to the Decarbonised Economy of Tomorrow from edX

How can economic strategies bring our current, fossil fuel based energy system into a carbon neutral future? According to the International Panel on Climate Change, we have only limited time left to keep global temperatures below 1.50 C and to avoid a climate crisis. How do we go about decarbonizing our economy? What are the best renewable energy sources to bring about this transition? And how do we convince investors that renewables really are the best option?

These and more questions will be addressed in this course. Moreover, we will identify the steps the European Union needs to take to reach its goal of a carbon neutral economy by 2050.

In order to understand the energy transition options, we will examine the impact the introduction of carbon free energy production has on the market. Increasingly wind and solar power and other technologies, are integrating into the energy mix at a high level. Looking at real life cases and expert predictions, you will look into these technologies, their integration in current market designs and the economic strategies needed for their implementation.

None of this can be done, of course, without the help of governmental policies. Using real life case studies, you will learn about the business case for renewable energies and how government support schemes, such as subsidies and green certificates, are currently driving the boom in the renewable energy sector. You will also learn about the implementation of carbon markets and carbon pricing and be able to discuss how effective this strategy has been in the European Union.

Finally, we will be looking to the future, examining the visions that have been outlined for 2030, 2050 and beyond. The course will ask you to envision the future of energy supply: how would you shape the carbon free world? There are already many ideas out there, but nothing is certain. You could be the next great mind helping to mold the future into the sustainable and carbon-free world we all want to live in.

This course is the second one in the program: The Economics of the Energy Transition. This program aims to help strategic decision makers, economists, policy advisors and regulators as well as practicing and future engineers to obtain a deeper understanding of the topic. Its aim is to increase your understanding of energy markets, the current European electricity market and to be able to promote the transition to a carbon neutral economy.

What's inside

Learning objectives

The impact of the energy transition on energy markets, including the introduction of renewable energy sources and storage technologies;
To understand the business case for renewable energy technologies and to detail different support schemes for renewable energy sources;

To discuss different methods of carbon pricing, including discussing the origin and the implementation of the emission trading scheme;
To describe the goals and appearance of the european energy system and energy market of 2050, discussing the steps necessary to achieve these goals.

The impact of the energy transition on energy markets, including the introduction of renewable energy sources and storage technologies;
To understand the business case for renewable energy technologies and to detail different support schemes for renewable energy sources;
To discuss different methods of carbon pricing, including discussing the origin and the implementation of the emission trading scheme;
To describe the goals and appearance of the european energy system and energy market of 2050, discussing the steps necessary to achieve these goals.

Syllabus

Week 5: Next steps forward

Week 1: Key elements of energy markets and the energy transitionWhy we need the energy transition and the tools and technologies currently working towards achieving this, including renewable energy sources and flexibility options..

Week 2: The economics of renewables and renewable energy policiesThe business case for renewable energies and the different support schemes in place to integrate them into the energy market.

Week 3: Decarbonization and carbon marketsThe different methods of carbon pricing and the emission trading scheme, using the European union as a case study.

Week 4: Energy Vision of the European UnionThe 2050 goals for the European energy market, what is needed to be done to achieve these goals. That will outline how the energy system will look like by that time.

Good to know

Know what's good

, what to watch for

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Develops the current energy market and explains the tools and technologies involved in the transition to renewable energy sources

Covers different support schemes for renewable energy sources and methods of carbon pricing

Examines the European Union's goals and appearance in 2050 and the steps necessary to achieve them

Designed for strategic decision makers, economists, policy advisors, and regulators who aim to promote the transition to a carbon neutral economy

Offers hands-on experience through real life case studies

Requires foundational knowledge in energy markets and the current European electricity market

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in The Transition to the Decarbonised Economy of Tomorrow with these activities:

Review basic energy terms and concepts

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Brush up on your basic knowledge of energy terms, concepts, and conversions to prepare for the course.

Browse courses on Energy

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Refer to textbooks, online resources, or videos to review basic energy concepts.

Review key economic concepts

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Review basic concepts of economics, energy markets, and carbon pricing to solidify your understanding before starting the course.

Browse courses on Energy Markets

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Read through introductory materials on economics, energy markets, and carbon pricing.
Complete practice exercises and quizzes to test your understanding.

Follow tutorials on renewable energy technologies

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Explore different types of renewable energy technologies and their applications through guided tutorials to enhance your understanding of the course material.

Browse courses on Renewable Energy

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Identify specific renewable energy technologies to research.
Find online tutorials or courses that cover these technologies.
Complete the tutorials and take notes on the key concepts and applications.

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Participate in discussion forums on energy transition

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Engage in discussions with peers on current topics and challenges in the energy transition to broaden your perspectives and deepen your understanding.

Browse courses on Energy Transition

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Join online forums or discussion groups related to the energy transition.
Actively participate in discussions by asking questions, sharing insights, and responding to others.

Gather industry reports and articles on energy transition

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Compile a collection of industry reports and articles to gain insights from experts and stay updated on the latest developments in the energy transition.

Browse courses on Energy Transition

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Identify reputable industry sources and academic journals.
Search for recent reports and articles related to the energy transition.
Organize and summarize the key findings in a document or digital repository.

Develop a presentation on decarbonization strategies

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Synthesize your knowledge by creating a presentation that explores different decarbonization strategies and their implications for the energy transition.

Browse courses on Decarbonization

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Research various decarbonization strategies and their effectiveness.
Analyze the economic and environmental impacts of these strategies.
Develop a presentation that clearly communicates your findings.

Support local organizations promoting energy efficiency

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Apply your knowledge and contribute to your community by volunteering with organizations that promote energy efficiency and sustainable practices.

Browse courses on Energy Efficiency

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Identify local organizations involved in energy efficiency or sustainability.
Reach out to inquire about volunteer opportunities.
Participate in projects or events to promote energy awareness and conservation.

Connect with professionals in the energy transition field

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Expand your network and gain valuable insights by connecting with professionals working in the field of energy transition.

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Attend industry events or conferences to meet potential mentors.
Reach out to professionals on LinkedIn or other professional networking platforms.
Request informational interviews to learn from their experiences and perspectives.

Career center

Learners who complete The Transition to the Decarbonised Economy of Tomorrow will develop knowledge and skills that may be useful to these careers:

Renewable Energy Engineer

Renewable Energy Engineers design, develop, and maintain renewable energy systems, such as solar panels and wind turbines. This course may be useful for Renewable Energy Engineers as it provides an understanding of the different renewable energy technologies, their integration into the energy system, and the economics of renewable energy. This knowledge can help Renewable Energy Engineers design and implement effective renewable energy systems.

See salaries and explore the career path for Renewable Energy Engineer

Energy Policy Advisor

Energy Policy Advisors advise governments and policymakers on energy-related issues, including energy security, climate change, and the energy transition. This course may be useful for Energy Policy Advisors as it provides an understanding of the energy transition, the different renewable energy technologies, and the different methods of carbon pricing. This knowledge can help Energy Policy Advisors make informed recommendations on energy policy and help shape the future of the energy sector.

See salaries and explore the career path for Energy Policy Advisor

Energy Researcher

Energy Researchers conduct research on energy-related topics, such as the development of new energy technologies, the impacts of energy production and consumption on the environment, and the economics of energy. This course may be useful for Energy Researchers as it provides an understanding of the energy transition, the different renewable energy technologies, and the different methods of carbon pricing. This knowledge can help Energy Researchers conduct cutting-edge research and contribute to the development of innovative energy solutions.

See salaries and explore the career path for Energy Researcher

Energy Project Manager

Energy Project Managers plan, manage, and execute energy projects, such as the construction of renewable energy facilities or the implementation of energy efficiency programs. This course may be useful for Energy Project Managers as it provides an understanding of the energy transition, the economics of renewable energy technologies, and the different methods of carbon pricing. This knowledge can help Energy Project Managers make informed decisions about their projects and help ensure their success.

See salaries and explore the career path for Energy Project Manager

Energy Investor

Energy Investors invest in energy-related companies, projects, and technologies. This course may be useful for Energy Investors as it provides an understanding of the energy transition, the economics of renewable energy technologies, and the different methods of carbon pricing. This knowledge can help Energy Investors make informed investment decisions and identify promising opportunities in the energy sector.

See salaries and explore the career path for Energy Investor

Energy Consultant

Energy Consultants advise businesses and governments on energy-related issues, including energy efficiency, renewable energy, and carbon management. This course may be useful for Energy Consultants as it provides an understanding of the energy transition, the economics of renewable energy technologies, and carbon pricing. This knowledge can help Energy Consultants provide valuable advice to their clients and help them make informed decisions about their energy strategies.

See salaries and explore the career path for Energy Consultant

Carbon Finance Analyst

Carbon Finance Analysts analyze and develop carbon finance projects, such as the development of carbon capture and storage technologies or the implementation of carbon trading schemes. This course may be useful for Carbon Finance Analysts as it provides an understanding of the energy transition, the different methods of carbon pricing, and the different renewable energy technologies. This knowledge can help Carbon Finance Analysts make informed decisions about their projects and help ensure their success.

See salaries and explore the career path for Carbon Finance Analyst

Climate Policy Analyst

Climate Policy Analysts research, analyze, and develop climate policies, regulations, and programs. This course may be useful for Climate Policy Analysts as it provides an understanding of the energy transition, the role of renewable energy in mitigating climate change, and the different methods of carbon pricing. This knowledge can help Climate Policy Analysts make informed recommendations on climate policy and help shape the future of climate action.

See salaries and explore the career path for Climate Policy Analyst

Energy Economist

Energy Economists apply economic principles and theories to analyze energy markets, policies, and regulations. This course may be useful for Energy Economists as it provides an understanding of the economics of renewable energy technologies, carbon pricing, and the European energy system. This knowledge can help Energy Economists make informed decisions and provide valuable insights on energy-related issues.

See salaries and explore the career path for Energy Economist

Energy Trader

Energy Traders buy and sell energy commodities, such as electricity, natural gas, and oil. This course may be useful for Energy Traders as it provides an understanding of the energy transition, the impact of renewable energy on energy markets, and the different methods of carbon pricing. This knowledge can help Energy Traders make informed trading decisions and navigate the increasingly complex energy market.

See salaries and explore the career path for Energy Trader

Environmental Lawyer

Environmental Lawyers specialize in environmental law and represent clients in environmental cases. This course may be useful for Environmental Lawyers as it provides an understanding of the energy transition, the environmental impacts of energy production and consumption, and the different methods of carbon pricing. This knowledge can help Environmental Lawyers advise their clients on environmental compliance and represent them in environmental litigation.

See salaries and explore the career path for Environmental Lawyer

Sustainability Manager

Sustainability Managers develop and implement sustainability strategies for businesses and organizations. This course may be useful for Sustainability Managers as it provides an understanding of the energy transition, the environmental impacts of energy production and consumption, and the role of renewable energy in achieving sustainability goals. This knowledge can help Sustainability Managers make informed decisions about their sustainability strategies and help their organizations reduce their environmental impact.

See salaries and explore the career path for Sustainability Manager

Energy Journalist

Energy Journalists report on energy-related issues, such as the energy transition, the development of new energy technologies, and the impacts of energy production and consumption on the environment. This course may be useful for Energy Journalists as it provides an understanding of the energy transition, the different renewable energy technologies, and the different methods of carbon pricing. This knowledge can help Energy Journalists write informed and engaging articles about energy-related issues and help raise awareness about the importance of the energy transition.

See salaries and explore the career path for Energy Journalist

Environmental Scientist

Environmental Scientists study the environment and work to protect it from pollution and degradation. This course may be useful for Environmental Scientists as it provides an understanding of the impact of the energy transition on the environment, including the environmental benefits of renewable energy sources and the potential environmental impacts of carbon pricing. This knowledge can help Environmental Scientists develop and implement effective environmental policies.

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Energy Policy Analyst

An Energy Policy Analyst researches, analyzes, and develops energy policies, regulations, and programs. This course may be useful for gaining an understanding of the energy transition, renewable energy sources, and carbon pricing which are all important aspects of energy policy. This knowledge can help Energy Policy Analysts make informed recommendations on energy policy and help shape the future of the energy sector.

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The Transition to the Decarbonised Economy of Tomorrow

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