In the space of just three months in 2022, the importance and urgency for nations to protect and secure their energy supply has increased dramatically. Geopolitical events have put energy security at the forefront of European governments’ concerns, both in terms of securing independent supply and ensuring predictable prices for the consumer.
In the years leading up to the EU’s 2050 deadline for climate neutrality, renewable energy and green hydrogen will be of crucial importance. By providing energy security with clean, affordable, locally produced energy and fuels, large-scale decarbonization is possible simultaneously. By converting hard-to-reduce industries to this green fuel, nations can meet the targets needed to reach net zero.
“The current crisis should not be allowed to push the climate emergency back onto the agenda,” said Siemens Gamesa Global CEO Jochen Eickholt, explaining the importance of tackling both security issues energy and decarbonization. “It is imperative that the entire renewable energy ecosystem is aligned with the need to reduce demand for fossil fuels. For green hydrogen to achieve scale, and therefore competitiveness, it also needs a seismic shift in the scale and speed of deployment of renewables.
Five levers hold the key:
1. Increase the volume of renewable energy produced in Europe; speeding up the authorization process is essential in this regard.
2. Establish a green hydrogen infrastructure for transport and distribution, whether produced locally or imported, and develop a stable hydrogen exchange market.
3. Innovate in storage solutions to ensure continuity and predictability of supply and put in place flexible legislation allowing for sector coupling to balance electricity demand and green hydrogen production.
4. Introduce legislative and regulatory tools to create a market for green hydrogen produced in the EU with guaranteed cost comparison against fossil fuel based imports.
5. Industrialize the scale of production of electrolysers needed to meet demand in Europe.
“Siemens Gamesa calls on European governments and relevant industries to work together in coalition to deliver energy security through renewables and green hydrogen, environmental security through essential decarbonization, and security from stable fuel pricing. energy to end consumers,” added Juan Gutierrez, Global CEO of Siemens. Gamesa’s service business. “The horrific events of the invasion of Ukraine have laid bare uncomfortable truths about the vulnerability of each of these elements, but it is within the power of nation states to approach each with a united approach to increase renewable energy installations and the adoption of green hydrogen.”
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Siemens Gamesa Renewable Energy (SGRE)