Even in advanced markets the energy transition is a big challenge. Let’s look at the EU as an example.
The EU’s current renewable energy share is only 22.2%.
The plan is to double that by 2030. But doubling from 11% took us 15 years.
Energy cost and availability has a major impact on EU household budgets
Faced with energy shortfalls and high prices, governments have so far committed well over USD 500 billion to shield consumers from the immediate impacts.
New policies in major energy markets will help propel annual clean energy investment to more than USD 2 trillion by 2030 in the STEPS (Stated Policies Scenario); A rise of more than 50% from today.
It is estimated that over 75% of the EU’s building stock is energy inefficient.
If we can make our buildings more efficient, we can save a considerable amount of energy annually, driving down the need for, and reliance upon, fossil fuel energy production.
Solar energy is the most abundant, and one of the most renewable energy resources on earth. According to the National Oceanic and Atmospheric Administration (NOAA), 173,000 terawatts of solar energy strike the earth continuously which is more than 10,000 times the world’s total energy use.
Every community, indeed every building, can play a part in transitioning to smarter, renewable energy sources.
At Kingspan we’re working to innovate and deploy new technologies that address these opportunities at global scale.