RENEWABLES 2023 GLOBAL STATUS REPORT

Renewables in Energy Demand

Challenges and Opportunities for the Uptake of Renewables in Industry

Challenges

Although several renewable heat technologies for low-to-medium temperature processes are on the market, fossil fuel-based heating technologies generally remain more cost effective, hindering the adoption of renewable solutions.

Renewable technologies for decarbonising high-temperature industrial processes remain limited, and further technological development is needed.

Many industry sectors are capital intensive, with long-lived capital assets. Switching to renewable technologies is expensive due to the long lifetimes of industrial equipment and plants.

Tailoring policy to the needs and characteristics of different industries is challenging, as the heterogeneity among sub-sectors, including in energy use and intensity, impedes having a comprehensive policy.

Opportunities

The potential for using industrial heat pumps in low-temperature heat applications is high; this has the advantage of both reducing costs through energy efficiency and providing low-carbon energy.

Renewable hydrogen can be used in many energy-intensive industries, where it is challenging to use 100% renewable technologies.

Small and medium-sized businesses have significant untapped potential for uptake of renewables, while simultaneously increasing their competitiveness through cost savings and improved sustainability practices.

Investments in decarbonised steel, which may include the use of renewables, are driven by the wish to capture opportunities in incipient green steel markets and to avoid stranded assets in anticipation of more stringent climate policies.

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  2. International Energy Agency (IEA), World Energy Statistics Database, 2022, www.iea.org/statistics, all rights reserved, as modified by the Renewable Energy Policy Network for the 21st Century (REN21).2
  3. Ibid.3
  4. Ibid.4
  5. IEA, “Industry – Analysis,” September 2022, https://www.iea.org/reports/industry. 5
  6. Ibid.6
  7. IEA, op. cit. note 2. Figure 7 from idem.7
  8. IEA, op. cit. note 2. 8
  9. International Renewable Energy Agency (IRENA), “Bioenergy for the Energy Transition: Ensuring Sustainability and Overcoming Barriers,” 2022, https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2022/Aug/IRENA_Bioenergy_for_the_transition_2022.pdf; IEA, “Pulp and Paper,” September 2022, https://www.iea.org/reports/pulp-and-paper.9
  10. IEA, “World Energy Outlook 2022,” 2022, https://iea.blob.core.windows.net/assets/830fe099-5530-48f2-a7c1-11f35d510983/WorldEnergyOutlook2022.pdf.10
  11. Vienna Energy Forum, “Summary of the Vienna Energy Forum 2021: 5-7 July,” 2021, https://www.viennaenergyforum.org/wp-content/uploads/2021/08/Report.pdf; World Economic Forum, “The Net-Zero Industry Tracker: An Interactive Guide for Executives,” July 28, 2022, https://www.weforum.org/reports/the-net-zero-industry-tracker.11
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  31. Ibid.31
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