Increasing innovation focus on the end-user segments within the energy transition story
When you investigate and research the energy transition that is underway, the higher focus to date has been on the progress to replace fossil fuel with renewable power generation technologies. As crucial renewable energy solutions (wind, solar) are falling in price comparison, we are beginning to see clean energy solutions for industry, for the environment, and society, as a whole. Energy transition and moving to renewable power generation, though, it is not happening fast enough.
We need to focus more on the active implementation of renewable energy solutions sooner than later. We are in an increasing race to work towards achievable goals to reduce global warming in the very ambitious time scales of the UN Paris climate agreement in 2016. This comprehensive agreement is to keep the global average temperature rise remaining below the two-degree Celsius agreed by 2050.
Presently we are failing behind this “two-degree pathway” deemed as essential, and we are currently forecasted to release more carbon and gases into the atmosphere, and that has severe repercussions for our planet. Governments will need to introduce more substantive policies to meet the emission targets they signed up too and society, industry and us, as individuals will have to undergo adjustments to accommodate this in our habits, consumption, and usage.
It is not just replacing energy sources; it is all about solution renewal end-to-end