Supporting the energy transition
The latest energy transition aims to answer a range of social, political and environmental challenges. The International Energy Agency’s latest World Energy Outlook confirmed the peak oil for conventional fossil resources. Our global growth model based on energy consumption is therefore exposed.
Today, the world total final consumption (TFC) is largely dominated by fossil primary sources, with 66% coming from coal, oil & natural gas. Electricity accounts for 19% of the TFC, with the remaining part being energy produced from biofuels and wastes. Final users of fossil fuels are mainly transport (27%), industry (16%), residential (8%) and agriculture (4%) sectors. Large-scale electrification of these end use sectors is key for the energy transition, with a share in the total TFC reaching 40-45% by 2050, according to the International Renewable Agency.
To transform energy production, storage, transportation and distribution systems, substantial R&D budgets are available in Europe, Asia, and America. Power networks will move toward more hybridized generation systems, with electricity generation shifting from 25% of renewable sources today to 85% of renewable sources in 2050.
Bureau Veritas is involved in numerous onshore and offshore wind and solar projects, and brings key knowledge to designers and developers, helping to ensure the safe and efficient execution of these solutions. With solar and wind requiring greater system flexibility, electricity and gas made from renewables will be the two main energy carriers. Development of the electrical grid and gas network, as well as mid and long-term storage capacities (e.g., gas storage, battery, mechanical and thermal systems) will allow the shift from fossil-powered toward electric or gas-fueled transportation. Bureau Veritas’ long history with gas storage and carriage, both on land and for marine environments, is valued by energy providers and operators as a way to answer numerous technical challenges.