Despite the lack of consensus achieved at the COP25 in Madrid late last year, there is no longer any dispute that urgent action is required to combat climate change. Mounting public concern is increasing the pressure on politicians and industry to act, and quickly, to decarbonise.
This momentum has become a key driver for energy policies worldwide and is climbing the corporate agenda for utilities. In an attempt to meet the existing commitment from the 2015 Paris Agreement that requires net zero emissions between 2030 to 2050, the share of electricity from renewable sources has increased to 25% around the globe. But the most significant challenge that needs to be faced is to reduce the 60% of carbon emissions that fall outside the power sector.
One potential solution to this dilemma, and one that Siemens believes is the optimum answer is Power-to-X. It many of its advocates because of its clean burning properties. It can be used in mobility, both in fuel cells and an internal combustion engine, it can be combined chemically with most elements and utilised as an industrial chemical in a wide range of applications. It is also valuable as an energy storage medium that can provide an essential back-up source for the power grid.
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