Smarter energy policies top analysts’ wish list for 2017

Smarter energy policies that will tackle environmental challenges, help cut carbon emissions and increase adoption of renewable energy are prominent on the list of expectation s of industry analysts.

A cross section of these experts who gave their opinion to Shell Global on their prospects and hopes for 2017, anticipate that smarter policies will help achieve climate change goals.

Laszlo Varro, chief economist of the International Energy Agency (IEA) said that his biggest hope for 2017 is that all countries of the world continue to promote and implement smart and innovative energy policy.

“This is the only way to tackle our common energy and environmental challenges. Achieving climate goals under the Paris agreement will require governments and companies to incorporate the latest thinking in their respective strategies,” he said.

Jeremy Bentham, head of Scenarios at Shell shares similar hopes. “I hope behind the scenes policy makers are able to build on the momentum from the Paris agreement in 2017 and work together on tackling climate change.

“On a more tangible basis, I’d like to see more examples of traditional and emerging energy sources being used alongside one other, like combined natural gas and solar power grids. Integrating these two can bring cities both resilient power supplies and economic benefits,” he said.

From 2015, renewable energy sector began to see increased investments. In March, 2016, the “Global Trends in Renewable Energy Investment” report stated global investment in renewable energy hit an all-time high in 2015, with $285.9 billion spent on greener energy. Analysts want to see this trend continue.

Sally Benson, professor of Energy Resources Engineering at Stanford University and former joint Nobel Peace Prize Winner said solar power started to come of age in 2016.

“Carbon capture and storage is hugely important in the fight against global warming. We have had some important milestones in 2016, such as Shell’s Quest project in Alberta, Canada, which captured and stored one million tonnes of CO2 emissions in its first year. But in 2017 I hope that CCS emerges with more support from industry, government, academia, and the public.”

Aspirations that climate change impact reducing efforts will continue in 2017 including that the new United States President will not thwart current efforts.

“I hope that the UN Paris agreement continues to proceed apace and that the USA will not pull out. The ratification process would not make this easy anyway as withdrawal would technically take four years. But the new US administration could decline to participate in the negotiations, taking on the role of mere observers. After the speed of diplomatic advances this year, that would be a great shame,” said Irene Lye, professor of Law at the National University of Singapore

Some other members who spoke on the developments anticipate that 2017 will see growth in electric vehicles powered by renewables.

“Our sense is that in 2017 there will be major investment and growth in electric vehicles. We’re hearing manufacturers talking about fast-charging systems across Europe. And it’s important because this is essentially going to be the fast way of decarbonising at the rate we need to achieve for a climate-safe future by 2050,” said Adnan Amin, director-General of the International Renewable Energy Agency.

ISAAC ANYAOGU