Energy supply, its demand and security issues for developed and emerging economies

Energy is inevitable for human life and a secure and accessible supply of energy is crucial for the sustainability of modern societies. Continuation of the use of fossil fuels is set to face multiple challenges: depletion of fossil fuel reserves, global warming and other environmental concerns, geopolitical and military conflicts and of late, continued and significant fuel price rise. These problems indicate an unsustainable situation. Renewable energy is the solution to the growing energy challenges. Renewable energy resources such as solar, wind, biomass, and wave and tidal energy, are abundant, inexhaustible and environmentally friendly.