Analysis of the Current Energy Transition Through the Lens of the Path Dependence Concept

The energy industry is currently undergoing rapid transformations driven by both dynamic geopolitical interactions and global governmental efforts to meet sustainable development goals. The fourth energy transition involves not only a significant increase in the utilization of renewable energy sources and a reduction in carbon emissions but also a substantial restructuring of the global energy market, characterized by a diversification of energy suppliers and consumers. Despite the swift pace of changes, the trajectory remains relatively steady, influenced by the path dependence phenomenon. This article investigates the characteristics of path dependence within the energy industry, identifying key factors that contribute to its manifestation. Special focus is given to the role of the interpretative frame's inertia. The analysis delves into how the interpretative frame affects the implementation of the energy transition. The study concludes that for the successful realization of the fourth energy transition, the resistance within the institutional environment of the energy industry–amplified by path dependence–must be addressed. This can be achieved by altering the existing interpretative frame through targeted interventions in public discourse.