The goal of the Paris Agreement is to restrict the increase in average global temperature to well below 2˚C above the preindustrial level and to pursue efforts to limit it to 1.5°C. Many studies suggest that to achieve even 2˚C target, total world's GHG emissions need to peak by 2020 and go down after that to reach net zero GHG emissions (NZE) around 2050 - 2060. The later we peak the total GHG emissions, the earlier we need to achieve global NZE in in order to stabilize GHG concentrations and limit the temperature increase.
All projections show further reduction in the cost of renewable electricity generation and substantial increase in renewable electricity generation capacity in coming years across the world. Assuming we can decarbonize the electricity grid fast enough around the world, electrification of end-uses of energy offers a major solution got GHG emissions reduction. The electrification of the building and transport sector as a pathway to get to NZE in these two sectors is easier to achieve from technological point of view. However, it is much harder to electrify the industry sector. Significantly more technological RD&D is needed to electrify substantial portion of manufacturing sector. Around 75% of total final energy use in industry is fossil fuels. Industry accounts for over 25% of world’s total GHG emissions. It should be noted that other solutions such as energy efficiency, material and product demand reduction, CCUS, and game-changer/emerging technologies need to be all considered along with electrification in order to achieve NZE industry sector.
Global Efficiency Intelligence, LLC. has unique expertise in analyzing deep electrification and decarbonization in manufacturing sector in order to achieve NZE industry. We have conducted scenario analysis to quantify the potential for deep electrification and decarbonization in order to reduce GHG emissions in the future. We focus on converting existing and anticipated industrial equipment and processes from traditional, fossil-fueled technologies to more efficient electric technologies. Having a deep understanding of various industry subsectors, systems, and technologies, we are able to conduct bottom-up, technology-level analysis for deep electrification and NZE industry. In addition to electrification, we conduct analysis on direct use of renewable energy (e.g. RE heat) in end-use applications, energy efficiency, material and product demand reduction, CCUS, and game-changer/emerging technologies in industry. The result of our work gives strategic guidance and pathways to investors, businesses, policymakers, utilities and other interested parties to make informed decisions for their future planning.