Page 11 - European Energy Innovation - summer 2020 publication

Summer 2020 European Energy Innovation 11

COVID-19'S IMPACT ON THE ENERGY SECTOR

and innovation. Two promising areas goals. IEA analysis has repeatedly Special report on Clean Energy
could be highlighted herein, namely, shown that a broad portfolio of clean Technology Innovation on 2 July 2020,
energy efficiency and renewables, energy technologies and innovation which will discuss these and other
both providing millions of jobs today will be needed to decarbonise all attributes of technologies that are
and where we see a huge economic parts of the economy. particularly suitable for fast clean
and sustainable impact. energy transitions, in sectors that
Batteries and hydrogen-producing are more difficult to decarbonise,
For energy efficiency actions such as electrolysers stand out as two the full report Energy Technology
grants, rebates, tax incentives and important technologies. Both Perspectives 2020 – will be released
auctions could stimulate demand industries have the potential to in September 2020.
and cost-effectiveness. Governments create many more jobs across
should however build upon pre- their entire supply chains. The The EU as a great opportunity
existing structures and support technologies will also be important to take the lead on sustainable
programmes that can mobilise to reduce emissions in sectors such recovery
stakeholders quickly. Renewables as shipping, aviation, long-haul trucks, How governments can best deal with
were the only energy source that the iron and steel sectors or chemical the implications of the pandemic is
experienced a growth during the first industries. The outlook for these still evolving but the clean energy
months of this year but we expect an technologies is more promising today transitions should be at the centre
overall decline in demand this year than a few years ago which is why of economic recovery plans. Moving
compared to 2019. So, to maintain these technologies deserve a special forward, the IEA sees a crucial role
renewable’s progress and keeping place in any economic stimulus for all governments in Europe and
jobs, governments should focus on package today. beyond in tackling this crisis and
re-confirming if not increasing their the recovery to come out of it by
renewable ambitions, bringing greater The IEA’s tracking report on clean focussing on these key areas of clean
clarity to the uncertainties that the energy technologies (TCEP) shows the energy technologies. The European
industry is facing. world’s progress on key technologies Green Deal provides the EU with a
and sectors for reaching long- very clear and unifying strategy for
The role of clean energy term policy objectives. Still many economic growth and a pathway to
technologies for reaching long- of the key technologies are not on carbon-neutrality. The strong backing
term energy objectives track. Considering the wind and of the ‘European Green Deal’ from
Energy efficiency and renewables like solar PV took decades to develop, the leaders of the EU Member States
wind and solar PV – the cornerstones governments’ policy and RD&D and the European Commission will
of clean energy transitions – are good support to key technologies such be crucial if the EU wants to be the
places to start. However, more will be as CCUS, hydrogen and batteries first climate-neutral continent as
required to put the world on track to will be crucial. The IEA will publish expressed by President von der Leyen
meet long-term energy and climate the Energy Technology Perspectives in her Agenda for Europe. ●

In March, the IEA’s Executive Director
Dr. Fatih Birol was the first leader of an
international organisation to make a call to
governments to put clean energy at the
heart of economic recovery.

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