Historic energy transitions, primarily driven by fossil fuels, significantly improved human well-being, measured through consumer surplus. In the UK, transitions from stagecoaches to railways to cars, and from candles to gaslight to electric lighting, substantially increased consumer surplus. However, these benefits diminish as societies reach high well-being levels.
Roger Fouquet’s research on the United Kingdom highlights the remarkable growth in energy consumption over centuries. Factors like fuel shifts, improved efficiency, and changing preferences drove the increases. However, efficiency gains led to the rebound effect, where saved energy was partly offset by increased consumption.
In Europe, energy insecurity affects 8% of the population, with some countries facing higher rates of thermal discomfort. Milder winters due to climate change have improved overall energy security, but about 35 million people still struggle to stay warm. Germany, Spain, Italy, and France have a significant number of individuals affected.