Global energy solutions company, Aggreko, has conducted an industry-wide survey to understand what the energy market will look like in the next decade.
The survey, conducted in October 2021, shows that the majority of respondents (69%) believe hybrids will be the number one choice, offering a way for businesses to bridge between fuel sources, ensuring both reliability and emissions reductions.
Survey results indicate that 83% of respondents believe fossil fuels will still have a role to play in the energy mix for the next decade, working alongside renewable solutions.
A full shift to renewable solutions isn’t a reflection of a lack of appetite, though – three in five (65%) view the energy transition as an opportunity for business – however, cost (70%), outdated infrastructure (54%) and lack of clarity on government commitments and incentives (55%) are sighted as significant barriers stunting the adoption of new, cleaner energy sources.
Hybrid technology presents a clear bridging solution for the energy transition, which we’ve already seen put into action around the world in order to reduce emissions. The Granny Smith Gold Mine in Australia saw Aggreko provide the world’s largest off-grid mining hybrid system in the form of a battery, thermal and solar power solution. The project reduced the energy-intensive mine’s fuel consumption by 10-13%, the equivalent of bringing 2,000 cars off the road.
Carsten Reincke-Collon, Director of Future Technologies at Aggreko said: “This survey has proven that across the world, people believe that more needs to be done to drive forward necessary change, but there is no single solution that can instantly achieve net-zero.
“At Aggreko, we are working alongside our customers across the world to help them navigate the increasingly complex energy environment. Our commitment to accelerate change is reflected in our investment in new technology and innovations, helping our customers to continue to operate at maximum efficiency from new greener sources, bridging that gap to fast-track their own energy transition.”
The survey results are available for download.