About 75% of the emission reductions needed to achieve climate neutrality depend on technologies that have not yet reached commercial maturity, according to a new analysis published by the International Energy Agency (IEA). A summary of the important points of the analysis is made by Investor.bg
The Clean Energy Innovation analysis warns that carbon neutrality targets, which now cover half of global gross domestic product (GDP), will not be achieved without a “major acceleration” of innovation in four key areas – electrification, heat production and transport, carbon capture and storage, green hydrogen and bioenergy.
Only 25% of the emission reductions needed to achieve neutrality between 2050 and 2070 are likely to be coming from mature technologies such as wind, nuclear, solar and energy efficiency measures, the report said.
The IEA believes that most of the remaining redundancies (41%) have to be made using technologies that are currently in the early stages of market perception, while early-stage technologies will cover the other 32%. In this regard, the IEA calls for an urgent acceleration of innovation related to the technologies in question.
Figure 1. IEA, Global energy sector CO2 emissions reductions by current technology readiness category in the Sustainable Development Scenario relative to the Stated Policies Scenario, 2019-2070, IEA, Paris https://www.iea.org/data-and-statistics/charts/global-energy-sector-co2-emissions-reductions-by-current-technology-readiness-category-in-the-sustainable-development-scenario-relative-to-the-stated-policies-scenario-2019-2070
The agency gives example with lithium-ion batteries and LED lighting as technologies that are rapidly accelerating from the phase of market acceptance to large-scale distribution, reaching maturity. “These examples should serve as benchmarks for building an array of energy technologies to achieve zero emissions,” the IEA insisted in the report, noting that support from business and politicians will help these technologies move from prototype to maturity in less than 30 years.
The report acknowledges that the costs and time-frame for some innovations have yet to be assessed. However, the IEA concludes that the provision of additional policy security can significantly reduce these barriers and accelerate the innovation process.
In such a scenario, almost half of the additional emission reductions that would be achieved by the middle of the century will be achieved through technologies that have not yet reached the broad market.
Source: Investor.bg, IEA (2020), Clean Energy Innovation, IEA, Paris https://www.iea.org/reports/clean-energy-innovation