Transitioning away from fossil-based energy to clean or renewable sources — including wind, solar, nuclear power or green gases — is essential to reach net zero goals and achieve sustainability. 

However while the identification of the solution is easy, the implementation is the biggest human challenge of the century. This transition is an industrial revolution that needs to happen at digital speed. 

It disrupts the modern world as we know it (replacing our energy system with new, more efficient and cleaner infrastructure), especially in a context where energy demand is likely to increase.

Q. What are the business benefits of switching to green and renewable energy?

According to the International Energy Agency (IEA), global energy demand could rise by 50% to 100% compared to current levels, driven by population growth and economic development, particularly in emerging markets and developing countries.

At the same time, energy supply will face tough challenges such as resource scarcity, geopolitical tensions and a very strong pressure to transition away from fossil fuels.

In that context, renewable energy and electrification are the best way to make our energy systems more efficient and answer this increasing demand.

Replacing fossil fuel technologies with renewable energy and electrification solutions can be two to four times more efficient as they are reducing energy losses associated with extracting, transporting and burning fossil fuels, and have a higher efficiency.

For example, an electric vehicle converts more than 77% of the electrical energy from the grid to power at the wheels, compared to only about 12-30% of the energy stored in gasoline.

With this paradigm shift, comes business opportunities all across the value chain with new generators, smart networks and smart grids, green hydrogen generation and new products powered by clean energy or clean electricity.

Additionally, business benefits of switching to renewables and clean energy comes from a strong need for acceleration across the whole lifecycle, from R&D to decommissioning and recycling, through industrialisation to ensure transition at scale.

Q. How does renewable energy adoption support regulation requirements?

We see it the other way around, regulation should support renewable adoption, by maintaining high ambitions for capacity installation, strong incentives, streamlined project development and flexible auction conditions, reducing time to operation and reducing the administrative hurdle.