The Energy Transition in Europe

Europe is attempting one of the most ambitious economic transformations in modern history: the transition from a fossil fuel-based energy system towards one that is cleaner, more secure, and more sustainable. This transition is often described as a simple shift from coal, oil, and gas to renewable energy. In practice, it is much more complex. Europe must reduce greenhouse gas emissions while maintaining affordability, energy security, industrial competitiveness, and social acceptance.

This course introduces students to the economics of the European energy transition. It combines energy economics, environmental economics, electricity market design, public policy, and basic energy system analysis. Students will learn how Europe uses energy, why electricity markets are different from other markets, how energy technologies can be compared, why renewable electricity creates new system challenges, and why technologies such as hydrogen, biomass, carbon capture, storage, and electrification may be complementary rather than competing solutions.

The course takes a systems perspective. Instead of asking whether one technology or policy can solve the transition, students will learn to ask what problem each technology solves, what constraints it faces, what it costs, and how it interacts with the wider energy system. Particular attention is paid to trade-offs between sustainability, affordability, and security of supply.

A central goal of the course is to develop critical thinking. Energy debates are full of confident but oversimplified claims. Students will learn to evaluate such claims using data, economic reasoning, and credible sources. By the end of the semester, students should be able to distinguish evidence-based arguments from slogans, misleading statistics, and one-sided narratives.