“Many experts predict that the volume of investments required for the energy transition could total between $100 and 200 trillion between 2040 and 2050,” Novak told the session entitled “The Future of Energy. Energy Transition,” moderated by Sergey Brilev, President of the Global Energy Association. The session was part of the St. Petersburg International Economic Forum.
“We have to have an understanding of who will pay for this and whether it will be taxpayers paying for this.”
Novak said a remaining major issue was the costs of securing “clean” energy in the process of the energy transition.