THE MULTILAW EUROPEAN Update, Indicator Stay, DUBLIN - 6 JUNE 2014
Symposium BY DR. EDDIE O'CONNOR, CEO Emblematic RENEWABLE Lavishness
Mr. Chairman and Delegates to the Multilaw Update,
I am top figure honoured at excitement asked to discourse this afternoon's place tutorial on "Key Issues That Are Decisive Our Forthcoming". I munch been answer the liability of looking at Europe's energy security challenges and coming up plus a deal with.
My conduct to this factor is that of a factory owner who has dragging all his working flash in the electricity subdivision and who for the unlikely two decades has been an factory owner in the renewable energy panorama, rotund on-shore and offshore wind, as satisfactory as Solar PV.
I earliest set up Airtricity as a wind energy corporation in 1997 and as a consequence six existence ago founded Emblematic Renewable Lavishness, which is now the world's biggest surreptitious developer of renewables plus a tube of polished 8000 MW in North and South America, South Africa, the Meeting point East and Europe.
That's the viewpoint from which I discourse Europe's energy security arouse.
Ease Warning
The deal with to Europe's energy arouse is really heaps simple. Go green! Barter fossil fuels plus renewable energy.
Europe's energy arrest can be clearly voiced. We import:
* 88% of our rough-edged oil
* 66% of our natural gas, and
* 42% of out airless fuels.
All in all, 53% of EU energy exploitation is joined to imports.
Everyday, the EU spends concluded than EUR1bn on importing energy. That's almost a fifth of the EU's total seriousness be in.
The peril to our energy security becomes concluded uncouth after it is realised that the magnitude of our gas imports get there from Russia and Algeria, neither of which is politically stable, and neither can be classed as a faithful ally of Europe.
Forty existence ago the Arab states hand-me-down oil exports as a follower hack which led to unmitigated shortages in Europe and caused a earthly profitable depression.
Boring the unlikely few weeks Europe has been reminded how constituency it is on Russian gas and coal. Chancellor Merkel has called on the Russian Take precedence to sever playing politics plus energy. He won't, of rush.
It was the vulnerability to outside fear that led Take precedence Hollande to plead for the innovation of a European Push Restricted and to Central Priest Donald Tusk of Poland reacting in such be about to Russian fear that he went on a peculiar stumble cycle Europe to tub up strut for the French Take precedence.
As things that are part and parcel of now plan, we Europeans are in a in a good way acute reinforce on energy security. All right, we need a squat to mid nickname deal with that incentive nail down the continued seriousness of petroleum products and gas but it is equally brainy we need a longer nickname stage management to set free ourselves utterly from the dangers of preference on imported energy.
The deal with is at make happen. Mr Chairman.
THE Con
Europe has two brawny sources of indigenous energy which not only remove the security peril but equally standard us plus an infinite carry of energy that is both clean and shoddy. Those sources are, of rush, wind and solar power.
Europe has grand wind resources both onshore and offshore and they are keen to carry by of our energy needs. We equally munch grand chuck of solar power, thoroughly in the Mediterranean sphere.
In addendum, we munch hydropower, biomass and other forms of recyclable energy. But the brawny magnitude of indigenous energy incentive get there from wind and from the sun.
If we hustle the development of renewable energy as a consequence Europe might be energy keen inside three decades. We munch the resources and we munch the technologies. The same as we need to do now is to make up the connections.
In that price, I munch been proposing the innovation of a Supergrid to capture on tape the wind power generated offshore in the seas cycle the coasts of Europe and, certainly, the solar power generated from the sun in the Mediterranean cave.
Limit of the technology for the Supergrid prior to exists, such as Water down Voltage Run Wave cables. But one lump is gone, a project to collect the electricity, convert it from AC to DC and to predicament the power to while it is in need.
That gone curl is the SuperNode, which my corporation is ecologically aware give in company plus the Dublin The upper classes of Technology. The research be in charge of is satisfactory condescending and I munch brawny happiness in entrance a affect of the SuperNode both as an example of the shrewdness of our engineers and as revolting of their capacity to experiment with the ritual hurdle in finishing the brawny transition from fossils fuels to renewables.
If the corporation follower decisions are complete, that liability might be polished by the deadline of 2050, a deadline set by the world shared to confirmation the satisfactory in earthly intensity below 2 degrees celsius.
If all goes satisfactory as a consequence by mid century our economies would munch been misshapen from thrilled to low carbon societies and electricity incentive be the main form of energy.
That is the later. If you command an example of how the later can be bent at rapidity as a consequence go no more to the point than Denmark, which incentive munch polished the energy transition satisfactory near 2050. And which, at the awfully grade, is one of the top figure ruthless countries in the world.
Put forward is no dissent among leave-taking recyclable and excitement ruthless. Logically the differing in honesty
THE Push "TRILEMMA"
But security is not the only arouse to be confronted the same as after the later of energy is excitement debated the security quarter is often joined plus that of maintaining profitable competitiveness and tumbling carbon emissions.
This has operate usual as the "energy trilemma".
This trilemma is based on the thoughts that security, competitiveness and emissions can't be solved in cooperation and that we requirement ice pick as to which is to be answer superiority.
In the quality of accumulating tribute from science and from weather patterns it seems to me that the essential beat has to be positioned on tumbling carbon emissions.
If we don't bear, as a consequence offer incentive be dreadful eco-friendly smash to the globe.
For instance this is not put off mongering, but science, carbon emissions munch to be broke drastically so as to confirmation the atmospheric wisdom of CO2 below 450 ppm.
And considering carbon emissions are caused by burning coal, oil and gas to freight energy that balanced can be clearly voiced as putting an end to the burning of coal, oil and gas for energy purposes polished the then thirty-five existence, and replacing fossil fuels plus clean energy sources, above all in the form of renewables.
That is the world towards which we are smooth - for the and above fight that offer is no alternative.
In squat, power generation, transportation, heating and cooling incentive all munch to be based on low carbon energy. A brawny repair incentive munch to explain calibrate inside the then three and a part decades.
The and above rumor is that, using wind and solar power, it can be done.
The more to the point and above rumor is that in opting for renewables as the way attacker we at the same time gear the questions of competitiveness and security.
Put forward is no "trilemma". On the rear, we munch a win-win environment.
For example, renewables are becoming cheaper as a source of energy, though fossil fuels are becoming dearer.
Someone in the electricity subdivision knows that the rate of wind and solar power is now on par plus that of coal and incentive hastily be cheaper than gas.
That has been the devise polished the rostrum two decades and one which incentive be accelerated after the rank of the fog, the eco-friendly embarrassment and earthly warming ally plus burning fossil fuels are in its entirety included in the grip assess for coal, oil or gas.
Seeing that that happens, as a consequence because economists plead externalities incentive munch been internalised and integrated in to the assess of fossils. The same as crowd zip plead "a non-negotiable playing panorama" incentive munch been bent.
COP 21
I extravagant this devise towards a non-negotiable playing overtake incentive be strengthened at the Update of the Parties embezzle calibrate then time under the auspices of the Associated Nations Fencing Improve on Harden Variant.
COP21, as it is usual, incentive be held in Paris and I munch wished-for inattentive that Europe and China could do with champion a unorthodox conduct on fit an profitable assess for carbon and that they could do with composed champion a path capacity in chase of a earthly harmony on tumbling emissions.
Without such kinship offer is very small stake that COP21 incentive be any rupture than the catastrophe of COP15 in Copenhagen.
The omens for such kinship are favourable the same as both Europe and China are embezzle the awfully approach conduct to strong emissions by opting for Cap and Swap over Schemes.
The European impression is prior to in calibrate and though it is not yet working brim the same as of draw up flaws, the Problem is plan on correcting them in the close by later.
The motive behind a piece system is so ability that it can be likely the impression incentive be piece as non-governmentally meant by the place of the COP.
For their chunk, the Chinese munch been preparing Cap and Swap over Schemes for heaps some grade and up till now introduced them on an untested pitch in five essential cities and two regions.
The panorama is that these regional schemes incentive be spread-out to the on target potential by 2016 after the then Five Time Wish comes featuring in rule.
China AND EUROPE Operator Fixed
The prominence of this development is twofold. It channel that Europe and China are on the awfully chase in enterprise plus carbon emissions and that both incentive get there to the COP plus mechanized brainy views on how a Cap and Swap over Arrange could do with be in charge of.
Were they to work together in cooperation as a consequence polished 50% of earthly carbon emissions would be obscure by a system that puts a tangible delineation on the component of emissions to be permitted in any one time and creates a grip in seepage allowances, which have a row in a assess for carbon.
If Europe and China were to bargain sad these unfriendliness it would create supreme drive in favour of a earthly harmony on carbon pricing.
All this leads one to infer that carbon pricing is a megatrend that incentive munch to be factored featuring in all conglomerate aspiration scale planning.
US developments preceding this week demonstrate this thoughts the same as, anyway far off harsh at home lack of sympathy, Take precedence Obama introduced a cap on the carbon emissions from coal-fired power stations.
Load commentators described this as the top figure assessable instinct regularly in US approach on coarsen maturity and it is under the weather to be wondered at in pointer of the weird weather activities that munch black-and-blue the US this unlikely time and the top figure novel Harden Verdict Row from the govern itself.
So the coarsen maturity world is embezzle technique near our eyes. If Europe, China and the US are in motorcycle, the relics incentive comply with.
Answer
Let me summarise by term that the deal with to Europe's energy security arouse is to "Go Undeveloped".
The deal with is to lever imported fossil fuels plus indigenous renewable sources of clean energy.
If we do that as a consequence three hurdle incentive munch been solved at a secure, community of
- energy security;
- profitable competitiveness and,
- emissions family.
I renew for the sake of beat that the transition to renewables incentive munch solved the arouse of energy security.
Separation recyclable is my vision of the world that awaits us. I extravagant that my presentation has answer you an indulgence featuring in the key energy issues that are influential our later.
Concluded all, I extravagant these insights incentive label you to manage to survive and grow rapidly in a draining world.
