Expected 2021 Renewable Energy Trends and Predictions from ENVIVA (Opinions, Editorials & Asides)
Together renewable fuels will further displace coal and natural gas --
As countries take aggressive action on climate change to decarbonize their respective economies by 2050, the direction is clear -- all carbon-neutral and carbon-negative renewable fuels will need to work together if we want to achieve carbon neutrality by mid-century. As the global energy demand for alternative fuels increase, 2021 will mark a turning point for the industry as wind, solar, geothermal, woody biomass, hydrogen, and lithium-ion battery energy providers (among others) make a collective and coordinated effort to combat the global climate crisis.
The aftermath of COVID-19 will push economies into a renewable future --
The COVID-19 pandemic has forever changed how societies, businesses, and governments view the world. As various industries saw a decline in the demand for products and/or services throughout the pandemic, the energy industry witnessed the opposite. Energy production and distribution remained essential regardless of the pandemic.
Throughout the pandemic we've seen an increased global interest in reducing carbon emissions. Looking ahead, we expect renewable fuels will continue to play a crucial role in power generation for decades to come. For this reason, we don't foresee a job loss, rather a job transfer -- or perhaps a job boom - in renewables in 2021. For those currently working in fossil fuels, this shift will present a great opportunity to transition skills as the energy sector continues to evolve into a clean energy future.
Europe will continue to be the "Poster Child" for renewable energy implementation, but there will be some regulatory uncertainty. --
Delivering Europe's long-term ambition to become the first climate neutral continent by 2050 requires an extensive set of urgent measures to scale up action. At the very least, the world-leading sustainability criteria established by the Renewable Energy Directive II (REDII) will need to be fully implemented by all member states if Europe plans to meet their 2030 and 2050 emission reduction goals. At best, member states will need to further amend the directive if they wish to succeed in cutting carbon emissions by 55 pct in the next decade from 1990 levels.
Bioenergy is the largest renewable energy source in the EU and will be critical to increased deployment of wind and solar --
The use of bioenergy has more than doubled since 2000 as a result of its end-use as heat, transportation, and electricity. In fact, biomass is the only renewable fuel on the market that is readily available today and can replace fossil fuels for heat generation. In heavy industries such as steel, aluminum and cement, sustainably sourced wood-based biomass offers a carbon-neutral fuel replacement for coal and gas-fired furnaces (and combined heat and power plants). As a dependable and dispatchable renewable fuel, sustainably-sourced biomass represents a prime solution to complement the intermittency of wind and solar (among other renewables) that will reduce carbon emissions by more than 85% on a lifecycle basis.
Biomass to assist the development and deployment of a hydrogen economy --
Looking ahead to more future-oriented solutions, such as the development of the hydrogen economy, biomass is projected to play an important role. The most obvious is to use biomass directly to create hydrogen through gasification and thereby avoid carbon emissions that are associated with natural gas. Even further down the road, when surplus solar and wind could potentially be used to create hydrogen at scale, there will be an exciting opportunity to produce aviation and other fuels with carbon capture of biomass that could result in even fewer net greenhouse gas emissions. Likewise, as decarbonization efforts in the steel and cement industry rapidly increase, they too will look to bioenergy solutions for support.
BECCS on the short rise --
Bioenergy with carbon capture and storage (BECCS) is one of the very few options on the table that can remove carbon from the atmosphere. Once matured, BECCS could mark the beginning of a new era for low-carbon fuel applications that will enable us to meet and/or exceed international net zero targets while still enjoying air travel and heavy goods transport, which is difficult and very expensive to decarbonize. We expect 2021 will be the year that we see true progress in climate change mitigation, as a result of new initiatives/policies, new innovations, and new collaborations that are already taking shape.
ENVIVA Holdings, LP is the world's largest producer of industrial wood pellets, a renewable and sustainable energy source used to generate electricity and heat. Through its subsidiaries, ENVIVA owns and operates wood pellet processing plants and deep-water export terminals in the Southeastern United States and exports pellets primarily to power plants in the UK, Europe and Japan that previously were fueled by coal, enabling them to reduce their lifetime carbon footprint by up to 85 pct. We make our pellets using sustainable practices that protect Southern forests. ENVIVA Holdings, LP conducts its activities primarily through two entities: ENVIVA Partners, LP, a publicly traded master limited partnership (NYSE: EVA), and ENVIVA Development Holdings, LLC, a wholly owned private company. (Source: Enviva Holdings, LP, Jan., 2021) Contact: ENVIVA Holdings, LP., www.envivabiomass.com
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