Aggreko, the leading global provider of mobile, modular energy solutions, has conducted an industry-wide survey to understand what the energy market will look like in the next decade.
The survey, conducted this month, highlights that the shift to renewables will be a transition rather than an overnight change, with 83 percent of respondents believing fossil fuels (oil and coal) will still have a role to play in the energy mix for the next 10 years. These fuels will work alongside renewable solutions, such as biofuels, wind and solar, but the majority – 69 percent -- believe hybrids will be the number one choice, offering a way for businesses to bridge between fuel sources, ensuring both reliability and emissions reductions.
A full shift to renewable solutions isn’t a reflection of a lack of appetite, though 65 percent view the energy transition as an opportunity for business. However, cost (70 percent), outdated infrastructure (54 percent) and lack of clarity on government commitments and incentives (55 percent) are sighted as significant barriers stunting the adoption of new, cleaner energy sources.
Hybrid technology presents a clear bridging solution for the energy transition, which we’ve already seen put into action around the world in order to reduce emissions. At the Granny Smith Gold Mine in Australia, Aggreko provided the world’s largest off-grid mining hybrid system in the form of a battery, thermal and solar power solution. The project reduced the energy-intensive mine’s fuel consumption by 10 to 13 percent, the equivalent of bringing 2,000 cars off the road.
“Climate change is the single biggest challenge we face as a global community said Carsten Reincke-Collon, director of future technologies at Aggreko. “The need for impactful action to drive forward the energy transition cannot be stressed enough. This survey has proven that across the world, people believe that more needs to be done to drive forward necessary change, but there is no single solution that can instantly achieve net-zero.
“At Aggreko, we are working alongside our customers across the world to help them navigate the increasingly complex energy environment. Our commitment to accelerate change is reflected in our investment in new technology and innovations, helping our customers to continue to operate at maximum efficiency from new greener sources, bridging that gap to fast-track their own energy transition.”
Recognizing the energy transition a top priority, Aggreko has committed to reducing its environmental impact, setting goals to reduce local emissions and diesel usage by 50 percent by 2030, and to become net-zero across all operations by 2050.
