Recently, DNV-GL has published its Energy Transition Outlook 2019. The report showed that realizing the COP21 target of is technologically feasible but not at the current rate. To reach the 1.5°C target it is important to tackle the following goals simultaneously: higher energy efficiency, more renewables, and industrial-scale CCS.
The DNV-GL believes there are 10 technological solutions to close the emission gap to well below 2°C:
- Grow solar power by more than 10 times to 5 TW and wind by 5 times to 3 TW by 2030, which would meet 50% of the global electricity use per year
- Increase the production of batteries by 50 times for the 50 million electric vehicles that will be needed by the year 2030. Plus investments need to be done in storage and balancing solutions to accompany the growth of solar and wind power.
- Invest more than 1.5 trillion dollars into the expansion and transmission of power grids by 2030.
- In the next ten years, the reduction in global energy, the energy used per unit of output, needs to occur at a quicker rate, going from our present conjecture of around 2.5% per annum to roughly 3.5%.
- Improved and less expensive heat-pump technologies and improved insulation.
- Make new infrastructure for charging electric vehicles on a large scale.
- Quick and wide deployment of carbon capture, use and storage installations.
- Green hydrogen to heat buildings and industry, fuel transport and utilize abundance renewable energy in the power grid.
- For the heavy industry sector, increased electrification of manufacturing processes, including electrical heating are needed.
- Enormous rail expansion both for city commuting and long-distance passenger and cargo transport.