Fostering renewable industry integration in the industry
As one of the largest energy consumers and contributors to greenhouse gas emissions, industry will have to play a significant role to reach the targets of the Paris Agreement. Renewable energy (RE) is bound to provide renewable electricity, heat and fuels to this economic sector, as is demonstrated by several inspirational applications around the globe.
This IEA-RETD study explores 21 case studies of state-of-the-art renewable energy (RE) applications in the industry and provides lessons learned for industrial actors and recommendations for policy makers. It finds that RE integration in the industry is already widespread worldwide, mainly driven by its direct benefits for industrial players in a changing energy environment.
RE integration in industrial assets brings direct benefits: Reduced energy costs and price hedging, improved energy supply reliability, increased productivity, additional revenue-generating opportunities and greater coherence with corporate environmental and local commitments. But various barriers still hinder full RE development in the industry. Eight issues have been identified that can tilt an industrial actor towards or away from deploying RE production assets in its facilities, from regulatory regimes and investment costs over technology maturity to awareness. However, industrial players and policy makers have a wide array of options to overcome those barriers. Beyond direct financial incentives, innovative public support schemes should be implemented to facilitate RE integration projects, like guarantees to address risks, third party power production to improve pay-back time and operational implementation, and localized policy demonstration projects and clusters to test optimal regulatory solutions globally and to generate many new and successful projects in the coming years.
On this page, you can find the policy report, the final presentation the compilation of the 21 case studies, and the long list of cases.
RE-INDUSTRY was presented at the IEA-RETD workshop, co-organized by NEDO, on 15 May in Tokyo. For more information on the event, visit http://iea-retd.org/archives/events/iea-retd-workshop-in-tokyo-japan