The world is going through an unprecedented energy revolution. In 2020, 75% of new power generation capacities commissioned worldwide were based on solar or wind technologies. In just over a decade, renewable energies have established themselves as the most competitive sources of carbon-free power to face the emergency of climate change.
The rise of renewable energies raises two essential questions:
1. Covering a significant proportion of power consumption from renewable energies supposes solving various technical difficulties, in particular their grid integration and their dispatchability.
2. Power only represents a small part of the total energy consumed in the world. The decarbonization of other uses therefore supposes the electrification of uses but also the development of clean fuels, in particular hydrogen.
By 2030, we must have overcome these challenges.
The coming decade will not be simply about accelerating the trends of previous years – it will be about laying the foundations of a new economy based on abundant clean energy sources, on a more decentralized and more resilient architecture, and on hydrogen as a carbon-free fuel freeing the world from its dependence on fossil fuels.
Verso Energy contributes to writing this next chapter of energy transition.