S&P Global Market Intelligence: ‘Blending of technologies’ needed to achieve global decarbonization, experts say

The U.S. and the world will need to rely on a diverse supply of clean energy technologies ranging from geothermal, offshore wind and distributed energy resources to meet decarbonization goals, experts contend.

“I think thinking about both the energy mix on the supply side and the mix of uses on the demand side highlights the fact that there is no single global answer,” Modern Energy Managing Partner Mark Laabs said April 13 at the Global Power Markets Conference hosted by S&P Global Platts. “The right answer for the United States or even some part of the United States may very well be different than the answer somewhere else.”

Laabs, speaking on a panel of energy executives and investors, pointed out that Brazil has been fortunate to have a “really rich hydro resource that provides most of their baseload power today.”

“But their energy demand is now starting to outstrip their available hydro supply, which is leading to new energy sources or new fuels entering the mix,” Laabs said.

This is seen as one example of the fact that emerging markets and other regions of the world will need different resources to drive down their emissions.

“Depending on which resources are available in a market, the right answer on supply side may vary,” Laabs said. “Renewables has a role to play but probably isn’t the entire answer essentially anywhere.”

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