Page 4 - AfrElec Week 36

AfrElec COMMENTARY AfrElec

IEA calls for dramatic scaling up of

clean tech to reach net zero

The power sector can only account for one third of the progress needed to reach net-zero
emissions. Transport, buildings and industry must also invest in clean tech, the IEA warns

GLOBAL INVESTING in clean energy technologies is in markets across the globe, ultra-low interest
crucial if the world is to make rapid and lasting rates can help finance a growing number of clean
WHAT: progress towards net-zero emissions, with trans- energy projects, more governments and com-
Electrification, hydrogen, port, buildings and industry, as well as the power panies are throwing their weight behind these
bioenergy and CCUS are sector, all needing to make structural changes. critical technologies, and all-important energy
the key technology areas The International Energy Agency’s (IEA) innovation may be about to take off,” Birol said.
to be developed Energy Technology Perspectives 2020 report,
released on September 10, explores what needs Legacy issues
WHY: to be done to reach net-zero emissions by 2070 Yet he warned that the energy transition faces
Investment is these are while ensuring a resilient and secure energy many legacy issues. Not all governments whole-
needed to achieve net- system. heartedly support the drive towards net zero,
zero emissions It finds that it is not sufficient to concentrate especially if they are major fossil fuel producers
on the power sector alone, as this would gener- or consumers. Existing energy infrastructure
WHAT NEXT: ate only one third of the emissions reductions is often a major emitter of greenhouse gases
Governments will play a required. (GHGs).
crucial role in defining Transport, industry and building, which Finally, providing access to power for every-
policies and fostering account for 55% of CO2 emissions from the one, especially in Africa and developing parts of
the investment and energy system, need to increase the use of elec- Asia, must not lead to higher emissions. The key challenge
innovation needed tricity to power electric vehicles (EVs), recycle “However, we need even more countries and
metals, heat buildings and many other tasks. businesses to get on board, we need to redouble is for electricity,
Electrification in these sectors would make efforts to bring energy access to all those who hydrogen,
the single largest contribution to reaching net- currently lack it, and we need to tackle emissions
zero emissions, the report claims, although from the vast amounts of existing energy infra- synthetic fuels
many more technologies will be needed. structure in use worldwide that threaten to put
our shared goals out of reach,” he warned. and bioenergy to
800 technologies
The report, the IEA’s first for three years, analyses Heavy industry account for 70%
more than 800 different technology options to The report found that recently installed heavy of energy demand
assess what would need to happen to reach net- industry installations and coal-fired generation
zero emissions by 2070 while ensuring a resilient plants in emerging countries face the biggest by 2070
and secure energy system. challenges in reducing emissions.
Fatih Birol, the IEA’s Executive Director, was These long-lasting energy assets, such as steel
cautiously optimistic that this would be possible, mills and cement kilns, are set to operate for
although progress to date, especially during the decades to come as emerging economies seek to
coronavirus (COVID-19) pandemic, must be foster economic growth.
built upon and extended. The report finds that the power sector and
“Despite the difficulties caused by the heavy industry sectors together account for
COVID-19 crisis, several recent developments about 60% of emissions today from existing
give us grounds for increasing optimism about energy infrastructure.
the world’s ability to accelerate clean energy That share will climb to nearly 100% in 2050 if
transitions and reach its energy and climate no action is taken to manage the existing assets’
goals. Still, major issues remain. This new IEA emissions.
report not only shows the scale of the challenge This underscores the need for the rapid devel-
but also offers vital guidance for overcoming it,” opment of technologies such as hydrogen and
said Birol. carbon capture, the report concludes.
He welcomed the falling cost of solar, better Meanwhile, clean technology must be avail-
financing options and the support of more and able and affordable if heavy industry is to invest
more governments, investors and corporations. in reducing emissions.
“Solar is leading renewables to new heights Strategically timed investments by heavy

P4 www. NEWSBASE .com Week 36 10•September•2020