While most organisations wish to shift away from fossil fuels, resource constraints hold them back
A survey by technology company ABB has revealed that while most European companies wish to transition from fossil fuels, many lack the resources to do so.
While the shift from fossil fuels was considered a priority to 71% of European companies, over half reported that their organisations lack the resources to meet their commitments in the energy transition.
"The shift towards clean energy generation, distribution, and more efficient consumption is essential to combat climate change and secure a low-carbon future," said Adrian Guggisberg, the division president of distribution solutions at ABB.
"While it's reassuring to see nearly three-quarters of respondents prioritizing this need, the survey also finds that we have a gap to close to meet the pledge made at the COP28 climate summit last year to triple renewable energy capacity by 2030 and double the average annual rate of energy efficiency every year until 2030.”
The research polled 850 electrification purchase decision-makers across France, Germany, Italy, Norway and the UK. The survey asked questions about energy transition drivers and risks, automation, environmentally friendly technologies and the adoption of regulations to reduce greenhouse gas emissions.
One of the key motivators for switching from fossil fuels was new or increasing regulations supporting the energy transition.
An example of this is the European energy sector’s change in medium-voltage switchgear. Due to new regulations, potent greenhouse gas sulfur hexafluoride (SF6) will be gradually eliminated. More than 80% of survey respondents indicated they would only switch to SF6-free switchgear because of the regulations.
"We know the change in technology away from SF6 switchgear is a big change in the market, and our customers are acknowledging that, too," Guggisberg said. "As a key supplier, we are committed to working closely with utilities and industries to support this critical transformation."
Cybersecurity was listed as an increasing priority as digital components and software solutions become increasingly essential to electrical equipment.
Overall, this survey highlighted the common challenges in energy transition, including operational costs, infrastructure investments and energy storage.
