There are multiple reasons why the energy consumption makes sense, since it prevents certain network attacks, like following:
You really have to invest much in hardware & energy to mine blocks – and unlike with POS coins, it's therefore not possible, to f.e. arrange with other big POS-validators and just say that a specific old/alternative chain is the valid one – since the energy is already burned.
unlike POS, you have a big investement in hardware, so if you attack your own network, your own hardware investment gets hurt. With POW there is no nothing-at-stakes-problem.
POS leads to centralization due to staking (f.e. on exchanges), this is not possible with Bitcoin, so the power distribution is much more equal with bitcoin – and much less controlable for states or big companies (f.e. if all big POS validators belong to the G20 countries – they could easily implement specific financial regulations to force these validators to follow specific rules).
There are also more reasons to go with POW instead of POS (see here https://reddit.com/r/Bitcoin/comments/n6vm71/arguments_for_proof_of_work/gxapd4z/ – long range attacks, short range attacks , stake grinding attacks) but I really wonder why no one talks about these points and only counters with "ah, around 74% of the miners use renewable energy sources". I this these security measures are pretty important.
See also these links for more infos:
Proof of Work vs Proof of Stake: https://youtu.be/hMge7LfiRT8?t=60