Research and development (R&D) is essential in achieving the world’s decarbonisation goals. It both introduces new technologies to the market and continuously improves existing ones.
In this way, R&D drives both energy efficiency and decarbonisation efforts, presenting cost-effective ways to reduce global greenhouse emissions and overcome integration challenges.
Though the technologies required to meet our climate goals already exist to a large extent, the main challenge is adoption. Especially, new digital solutions are also helping businesses make the right decisions for the planet.
Digital Solutions for Energy Efficiency
As many technologies for a greener future exist, the main challenge is to make sure it is adopted widely and quickly. A survey found that over 95 percent of industrial businesses are willing to invest in energy efficiency, but less than half feel they have enough information to take action.
So, R&D has also provided new digital solutions that enable better decision-making when it comes to saving energy and costs. Digital energy audits, for example, enable industrial businesses to pinpoint exactly where the best places for energy-savings are across whole fleets of motors. An audit starts by gathering performance and efficiency data from motors, then checks it against what could happen if it was upgraded to be more efficient. The audit then shows energy and emissions savings and return on investment (ROI) if each motor were upgraded.
Building R&D Skills and Knowledge
Ultimately, climate change is not a problem that one company or person can solve. And, although many technologies required to combat climate change exist, they need to be quickly adopted and continuously developed to improve their competitiveness.
So, R&D is just as much about people as it is about technology. The key is to invest in those people to develop the new skills required in the energy transition, as well as share innovative ideas and methodologies.
Addressing the climate challenge requires putting together the top minds across business, customers, universities and even competitors. Joining requires a public commitment to enhance energy efficiency and provides access to a forum that facilitates knowledge sharing among all participants, including rivals. This underscores a dedication to the advancement of society and combating climate change.
