With the Air Transport Action Group (ATAG) having committed to reducing 50% of its CO2 emissions by 2050, and the European Union’s Green Deal to become carbon neutral in the same period, the aviation industry is facing severe challenges to fulfil these ambitious goals.
Following our post on government initiatives of selected countries with regards to renewable energy subsidies, targets and ambitions, we have researched the private sector to obtain a more in-depth look into the big players and their plans for the renewable revolution.
The International Energy Association’s (IEA) latest publication, “Energy Technology Perspectives (ETP) 2020”, is a 400-page report on energy technologies, the transition to net-zero emissions, and international climate goals. Here, we will break it down to the most essential information, saving you the time of reading the entire report.
The year 2020 has been one of a kind, that is undeniable. Yet, not only has the pandemic caused us to rethink, but also to act on issues like lockdowns, travel restrictions, climate change and government policies. Many governments around the world have set ambitious climate targets, not only to meet the requirements under the Paris agreement, but also to exceed them.
No single energy source is carbon-free. Despite that, no metric that offers insights into comparative costs across multiple energy types includes carbon emission costs.
In order to account for these emission costs, the Electrifying team has derived a factor that can be added to existing metrics such as levelized costs of energy (LCOE), levelized avoided costs of electricity (LACE), and value adjusted levelized costs of energy (VALCOE), among others.