Making decisions about Energy
Latest press releasesThe immediate outcome from the current UN Climate Conference in Copenhagen may not be the binding global agreement many had hoped for. But the speed with which any political agreement is converted into rapid growth in renewable energy investment is critical if existing and future carbon reduction targets are to be met.
This was the message at a recent Renewable Energy Seminar at Warwick presented as part of the Low Carbon Society Initiative and in association with the Warwick Global Energy MBA.
Kirsty Hamilton from Chatham House opened the seminar by looking at investment levels in the clean energy sector. Investment grew around 60% per year up to 2007, stalled in 2008 and looks like falling by 30% in 2009. It will require a 6-fold increase in investment on current levels to meet the targets set by European governments. Despite the financial slow down there is still investment money available but the decisions that governments take, individually and at events like COP15 in Copenhagen, have a significant impact on investor confidence in the renewables sector.
The seminar then looked at individual example of companies bring alternative energy technologies to market. Professor Tim Jones (University of Warwick Chemistry Department) described the role photovoltaics could play in meeting global energy demand. Tim is CEO of a spin out company from the University, Molecular Solar, which is developing a flexible film charger using molecular photovoltaic technology.
Tom Castle, a WBS MBA alumnus working with Morgan Stanley, spoke about the opportunities for tidal energy. The predictability of tides offers advantages over power from wind turbines but there are still many alternative technologies, each still to be proven at scale. Add the cost and availability of grid connection and the investments needed to bring tidal energy online become significant.
Finally Dr Henri Winand, CEO of Intelligent Energy and also a WBS alumnus, described the role hydrogen and fuel cells could play in the transition to a low carbon economy. Intelligent Energy work with partners such as Suzuki, PSA Peugeot Citroën, Boeing and the utility company Scottish & Southern to develop alternative energy systems based on fuel cells. Henri emphasised the critical importance of the end consumer when developing renewable energy products. There is no point developing great energy saving ideas if they have no financial payback and if there is no immediate appeal to consumers. “It is important to remember” he said “ that consumers want what they had before plus….”
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