The journey towards the green transition, where our world shifts from a reliance on fossil fuels to more sustainable energy sources, is still paved with a few significant challenges to overcome. One of the most crucial concerns is ensuring the affordability of renewable energy, especially for developing economies. Ultimately, the shift to a green energy field is an issue of equity – inclusivity means ensuring that the benefits of green technologies are accessible to all.
The United Nations has positioned "Affordable and Clean Energy for All" within its Sustainable Development Goals framework, underlining it as a critical global priority. The development goal emphasizes the need to increase the share of renewable energy, make significant advancements in energy efficiency, and increase global cooperation. To reach this goal we need to develop multiple clean energy solutions and secure the necessary investments.
Transitioning from fossil fuels is not just environmentally reasonable; it's also economically wise. In 2022, the fossil fuel sector received approximately $7 trillion in financial support through tax incentives and direct subsidies. In contrast, an investment of around $4 trillion annually in renewable energy is necessary by 2030. This investment will support technology and infrastructure advancements needed to achieve net-zero emissions by 2050
The shift could potentially bring substantial economic returns, saving up to $4.2 trillion per year by mitigating the impacts of climate change. Adopting efficient and reliable renewable technologies can enhance our energy resilience to make us less prone to market volatility and geopolitical tensions, ensuring a more secure and diverse energy supply chain.
Technological advancements have provided tools to shift from fossil-intensive to fossil-free synthetic fuels produced from various carbon sources. These fuels have the volume and energy density of their fossil counterparts, which makes them compatible with combustion engines of cars, aviation, and heavy-freight industries where full-scale adoption of electrification is technically impossible.
The production of sustainable synthetic fuels is a field where Liquid Sun’s technology is a key player. Our low-temperature electrolyzers (LTE) utilize carbon dioxide, either directly from air or captured at a source, with power from renewable sources to produce synthetic fuels and chemicals.
Unlike biofuels which rely on cultivated crops and deforestation for raw materials, our technology holds an added benefit: it doesn’t need land or other emission-causing raw materials. The Techno-Economic model predicts that our technology holds great promise to be commercially viable and affordable for the wider population around the globe.
The war in Ukraine and Houthi rebels’ attacks on cargo ships in the Red Sea have demonstrated how regional conflicts can disrupt global energy supply chains with catastrophic effects on the global economy, effectively increasing energy poverty. Synthetic fuels produced through Liquid Sun’s technology have the added benefit of dissociating local economies from petroleum imports. Our technology protects local economies from the drastic effects of supply chain disruptions. A decentralized solution for energy production makes the local industry more attractive for investments as global or regional conflicts will have minimal effects on its supply chain.
The UN Sustainable Development Goals, including the eradication of poverty, ensuring quality education, and promoting good health and well-being are practically impossible to reach without the foundation of sustainable energy. By integrating sustainable energy solutions like the Liquid Sun technology, we can not only speed up our way towards meeting SDG 7, but also significantly contribute to reaching other goals associated with it.
At Liquid Sun, we are strongly committed to aligning the UN Sustainable Development Goals into our operations to foster peace and prosperity for people and the planet, both today and tomorrow.
Dr Zafar Ahmed, Senior Scientist / Sustainability & Circularity Lead
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