Energy Transition in Mono-Economies, the Non-Participatory and Effect Mitigating Approach

Abstract

Abstract Energy transitioning has been phenomenal in terms of the energy and commitment to see the implementation of the lofty sway by the big economies and international partnerships like the 2016 Paris Agreement and Sustainable Development Goals (SDGs) initiatives. The same enthusiasm cannot be said of small economies and developing Nations. The paper explores small economies’ approaches to domesticating or internalizing their transitioning and mitigating effects of the global energy transition. A new definition of energy transition that covers key terms and pillars of any new energy concept is provided. The pillars provide a structured, organized energy transitioning approach to ensure effective participation. The pillars of energy transition underscore corporate and national rhetorics in enhancing or demarketing the transition. Approaches to participate effectively are presented to help mono-economies and small-resource economies domesticate their energy transitioning in light of capability and resource availability. This paper approach provides guidelines for National and corporate organization self-appraisal of efforts towards ensuring effective energy transition. The self-appraisal is necessary to ensure that efforts are in the right perspective to create room for improvement and that areas that need further action in the energy transition are engendered. The right approach for energy transitioning investment is advocated considering capacity, resource availability, and the benefits to humanity. The mono-economies and small-resource economics approach must focus on domesticating the energy transition regarding local resource availability and garnering the people-process-policy trios to prepare for the forward-looking global energy transition. Monoeconomies and small economies must domesticate the availability of energy resources locally, given the global energy transition. The review of the energy transition equips mono-and-small scale economies to harness available resources and domesticate their energy transition. The energy transition analysis reveals ineffective and aloof tendencies. It strengthens the role clarity of all Nations and how best to transition into the new energy or mitigate the global effect.