No business model is the same for CSP due to the complexity of projects in terms of engaged actors across the different stages. MUSTEC project team investigated the CSP industry to identify the existing business models and found that the CSP industry has been forced to adjust its original business models. This post further discusses risks and barriers for the CSP industry but also financing opportunities.
Climate action
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The Paris Agreement requires a global decrease in Green House Gas emissions by 2050 which requires input from cities. Research and Innovation (R&I) in European cities is described in this paper and explains the critical R&I actions in cities based on three pillars.
The DEEDS (Dialogue for European Decarbonisation Strategies) invited European and non-European experts to be part of a scientific group that will support the European Decarbonisation Pathways Initiative (EDPI). A database has been created for experts to join DEEDS.
The International Panel on Climate Change (IPCC) has presented scenarios based on observation of impacts from climate change. TRANSrisk combines modelling tools with input from stakeholders to develop climate models by developing an quantified quantitative four stage analysis and gives conclusions from the analysis results for mitigation scenarios.
In 2008, the Climate Change Act was established in the UK, committing to achieve 80% GHG emission reduction by 2050 compared to 1990. The UK electricity supply will need to be largely decarbonised by around 2030. The UK Government has supported both the development of renewable energy and nuclear power, but more the focus on the latter. There has been wide-ranging interest in the possibility of Small Modular Reactors (SMRs), but also risk and uncertainties.
CO2 emissions from non-electricity energy uses, e.g., industry, transport, and heating, are the greatest impediment to meeting Paris Agreement ambitions. For 1.5°C temperature increase limit; negative emissions technologies will become a necessity and implies a remaining carbon budget of just 200 billion tons of CO2 until 2100. Compared to the 4,000 billion tons of CO2 that would be emitted until 2100 if current trends continue. Future CO2 emissions must be kept within a finite budget.
Many European countries has committed to reducing greenhouse gas emissions by 80-95% in 2050, relative to 1990 emission levels as part of the Paris Agreement which set an international ambition to combat climate change. Agriculture contributed 13% of the Netherlands’ total greenhouse gas emissions in 2016 from various soruces. Within the livestock sector, GHG emission reductions will need to be viable from an economic perspective but also meet social and environmental standards.
Part of the transformation to meet climate change mitigation goals will be a reduction in GHG emissions from the energy sector in the EU and Member States. This may involve large economic costs, particularly for investments. The ‘carbon bubble’ is a major financial concern, which may arise through the transition into a low carbon economy. Analysis suggests that investors’ risk perceptions of renewables have more of an impact than the perceived risk of fossil fuels.
Low carbon investments need to increase if the world is to achieve the Paris Agreement aim of keeping global warming below 2°C. A fundamental transformation of the global energy system can be achieved with a comparatively modest increase in overall investments. Shift of investments away from fossil fuels and toward renewables/energy efficiency is needed. Current incentives like the NDCs will not provide sufficient impetus for the “pronounced change” that are needed for the energy system.
The transport sector accounts for almost 1/4 of the EU’s total GHG emissions, and decarbonisation of the sector is therefore crucial. The use of electric powered transport is emerging as the most viable near-term solution to reduce CO2 emissions road transport. The falling costs of batteries means that Battery Electric Vehicles (BEVs) for personal use are becoming more cost competitive, so large potential for Electric Road Systems (ERS) but with substantial uncertainties in costs.