I think transaction fees will support the network going forward but I also think that the cost to mine will also decrease as energy prices come down due to continue alternative energy technology development as well as general technology advances that may permit miners to run operations more efficiently. However, transaction fees can’t go too high as it will defeat the purpose of mass adoption for the unbanked.
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In fact I think the opposite will happen, energy is a resource that is always in short supply, think about leaps in technology like Electric Vehicles, when 10 billion people all want to charge an EV, where will the energy come from for PoW; electricity prices are set to rise sharply in the near future, and however much is produced we will always need more.
This is why I personally think PoW is a dead-end for crypto-currency, and for humanity at large. We need better mechanisms to secure the block-chain.