#insights

The progressive reduction of emissions into the atmosphere has gained prominence both in the business world and among the goals set by numerous countries. It has also attracted increasing attention in public discourse and among citizens’ concerns. Last year, we learned that climate change is the global challenge that most worries Spaniards, according to the ‘Transatlantic Trends’ report by the German Marshall Fund.

Limiting the rise in temperatures to 1.5 degrees Celsius above pre-industrial levels would help avoid the consequences of climate change. This implies an ambitious target, as the Intergovernmental Panel on Climate Change (IPCC) indicated in 2018: becoming carbon neutral by 2050.

The task is not easy, mainly due to the high level of uncertainty we face in addressing the issue. This uncertainty takes many forms. For example, we must consider price volatility and the current complex geopolitical landscape, the availability of funding and decarbonisation subsidies, and the competitiveness of solutions, among other factors. There are also changes in the regulatory and fiscal frameworks governing decarbonisation plans. And, of course, one must ask: Does the technology possess the necessary maturity? And if not, can it achieve it within the timeframe we expect?

Technological Maturity: Different Speeds for Different Cases

When it comes to decarbonisation from a technological or engineering perspective, there are already numerous technologies on the market, with varying degrees of maturity. From the development of electrolysers for renewable hydrogen generation to the use of microwaves for the same purpose, through various forms of renewable energy generation, and even including the capture, storage, and transport of CO2. Some receive more attention than others. Likewise, some are well-established and widely used, while others are still in the development phase.

Given the advances in various technical fields, everything suggests that the future will not be determined or conditioned by the development of a single solution or technology but by a combination of them, adapted to each use case, production process, and context.

In this regard, some of the questions that any organisation must clarify when advancing its decarbonisation efforts include the possibility of electrifying its energy consumption, using new fuels, or the ability to recover residual heat in its processes – and what to do with it – or store energy – and how. As mentioned earlier, there is no one-size-fits-all solution. Instead, the specific circumstances will determine how we can achieve the goal we set.

For this reason, before undertaking a decarbonisation project, it is advisable to carry out a conceptual study with sufficient depth to make informed decisions about the optimal path to follow. Reaching the end of this path involves preliminary work, including a detailed analysis of industrial processes and energy balance (analysis of consumption, required conditions and temperatures, the simultaneity of generation and consumption, etc.).

Only after this study can we determine the best tools for a specific case… or discard those that are impractical. Moreover, we will also be able to size the scope of the systems we will deploy.

Objectives, Expectations, and Results: What Should We Expect from Technology?

Treating technology as the goal – instead of a tool – is a more common mistake than one might think. Without a comprehensive overview that provides enough detail to make the right decisions and proceed to the next development stages, our vision may be clouded by the potential benefits of a particular technology, without considering the drawbacks it may bring to our specific case. Two tools may serve the same purpose, but that does not mean they are equally suitable for a particular task.

Therefore, more and more energy generation and management projects require agnostic knowledge of technology; that is, they must consider several different solutions while also possessing a sufficient understanding of cutting-edge technology and new use cases in the sector. In a context marked by change, this is a task that demands full attention and keeping track of the latest trends, which is why companies increasingly need expert advice that is in touch with the realities, benefits, and constraints of the available technologies.