Electrification and decarbonisation of the economy

Last two years have proved even stronger that the energy transition is a pressing challenge. Decarbonization and energy security should be critically placed in the strategies and solutions that countries and energy providers shape together to secure independence, stability and affordability.

Last two years have proved even stronger that the energy transition is a pressing challenge. Decarbonization and energy security should be critically placed in the strategies and solutions that countries and energy providers shape together to secure independence, stability and affordability. Electrifying and decarbonizing economy require taking a systematic view on how to combine technologies rather than treat them separately.

The investment required to deliver the ambitious energy transition targets are huge but not acting would bring a higher cost at all of us. Addressing climate change must be real global priority, requiring global action, national commitments, and consistent policy and regulatory frameworks.

Renewables are now the fastest growing source of new power generation capacity and electricity. This growth has been propelled by many factors – public awareness, cost declines, technology progress and policies that support investments. Yet, despite the massive deployment of wind and solar capacity in recent years, increases are not occurring at the pace or scale needed to decarbonize the electricity sector and meet the goals of the Paris Agreement. According to the IEA, given the time it takes to build up new renewables and to implement energy efficiency improvements, coal-to-gas switching represents a potential quick win for emissions reductions. Accelerated and strategic deployment of renewables and gas power combined can change the trajectory for climate change, enabling substantive reductions in emissions quickly, providing system flexibility and dependable capacity, while in parallel continuing to advance the technologies for low or near zero-carbon power generation.

Energy infrastructure is the connecting point for all the technologies and we cannot risk facing the crisis that can be avoided by proper approach and assisting policies. There is clearly a need for efficiency, stability and greater interconnectivity of electricity grids in Europe to further increase the security.

GE Vernova with our portfolio including renewables, gas technology, nuclear, grid and digital, a large spectrum of power generation and distribution, is supporting Poland’s and Europe’s objectives in the energy transition. Meaning a secure and affordable energy supply and decarbonisation of the energy and the industry sector alike.