Global energy transition faces rising cost concerns

A global Ipsos survey involving over 23,000 adults across 31 countries reveals a significant dilemma regarding the energy transition. While there remains massive support for transitioning to renewable energy due to concerns over climate change, public anxiety regarding energy costs and grid stability has reached record levels.

Concerns over rising costs are heavily influenced by recent geopolitical tensions in the Middle East, specifically following military actions involving the United States, Israel, and the Islamic Republic of Iran, which led to energy crises and the blocking of the Strait of Hormuz.

According to the data, 76% of people worldwide expressed concern about increasing energy prices, and 49% reported reducing other essential expenditures to afford their energy bills. Countries such as Thailand, Chile, India, and Singapore showed particularly high levels of vulnerability across financial accessibility indicators.