Mohannad Ahmed Faraj / Imam Al-Kadhum University College.
Several signs indicate that the global energy system has begun a process of transformation from total dependence on fossil energy sources, especially coal, oil, and natural gas, to a new era in which clean energy sources have an important impact in meeting the increasing needs of energy demand, and several factors reinforced this shift, That is: the time required to implement the technologies of renewable energy systems is an influential factor in the global energy demand system, in addition to the amount of environmental pollution and climate changes. Because of the excessive use of fossil fuels, the size of fossil fuel reserves and the number of new additions, the amount of support and financing for renewable energy sources, as well as the political factors related to the concept of energy security, especially the economies of major industrialized countries, it seems that the future of depleted energy has become increasingly ambiguous, which led to the interest in studying the subject of renewable energy has increased. Renewable energy sources from wind, water, and solar energy have constituted a great deal of electric power generation. Wind power plants in Germany and Britain have become less expensive than coal and gas, and it seems that reliance on clean energy sources has an effect in reducing “carbon dioxide” emissions, the idea of securing a stable, safe and affordable supply of energy has been crystallized, as well as the rapid changes that have occurred in modern economies and the energy they need to meet the requirements of the industrial process.
The importance of the position of energy to the economics of natural resources, especially the Iraqi economy, lies in the fact that it is a unilateral economy, as the economics of renewable energy has become one of the most important areas in the twenty-first century; For economic and environmental reasons, as an investment in it represents an economic dimension, and global investment in renewable energy is no longer a luxury, but rather an inevitable need, in addition to the increasing global demand for clean energy, which requires its use as a substitute for depleted energy sooner or later. The problem of shifts in energy prices arises with the presence of traditional energy sources in developing countries, including Iraq, especially crude oil, which makes its cost cheaper compared to renewable energy sources. However, these sources are subject to depletion. Because of its depletion, as well as health and environmental risks, many questions about the future of clean energy in the global economy and its impact become clear through this problem, and the outcomes of the mechanisms of global energy markets after raising the shares of investments in alternative energies, and placing restrictions on consumption in traditional energies, and it is important to know Here about Iraq’s role in front of this new map, and the role it will bear, or what are the gains and dimensions that Iraq will receive from the transformations in energy policies in the world in the foreseeable future?! This threatens the privileged position enjoyed by oil and gas exporting countries, including Iraq, and global energy markets may be heading towards the most prominent long-term change that they have witnessed since oil replaced coal as a primary source of energy for the globe.
