Energy development

Energy development is the field of activities focused on obtaining sources of energy from natural resources. These activities include production of conventional, alternative and renewable sources of energy, and for the recovery and reuse of energy that would otherwise be wasted. Energy conservation and efficiency measures reduce the demand for energy development, and can have benefits to society with improvements to environmental issues.

Currently, the availability of new sources of oil and natural gas is increasing, while a wide range of technological advancements on the demand side are breaking the link between economic growth and rising energy utilization. Advancements in solar panels, for example, have drastically reduced the cost of solar electricity to be competitive with the retail price of electricity. With more new energy sources, overall global energy costs remain low and the global energy system become increasingly resilient to supply shocks from fossil fuels, to the benefit, in particular, of China, India, and other resource-poor major countries.