“The advance of renewables is unstoppable and there are no longer alternatives: this will be the year of electrification”
This international summit involved participants from the worlds of politics, industry and academia in debates about the climate, sustainability and other crucial issues concerning the future of the Earth. The starting point was “Come on!”, a report, presented by the Club of Rome, which emphasised the need to accelerate the fight against climate change by reducing carbon dioxide emissions by at least 6.2% per year and further incentivising fossil fuels. Francesco Starace participated on the energy panel discussion titled “Debate: Energy for the Future - Turning a Solution into Collective Action!”.
In his talk, the CEO pointed out that today technological progress is making energy generation from renewable sources increasingly cost-effective while also reducing the costs of producing and distributing electricity. The market is changing and renewable energy, which “was once considered alternative, will become the main energy source”.
This evolution is taking place across all sectors and is being supported by the digital transformation of the networks and innovations in the field of materials science: materials have become lighter more resistant and less expensive to produce. For Mr Starace, improvements in efficiency now enable us to reach “performance levels that were unimaginable until a few years ago” and open the door to a greater usage of electricity in other sectors too. This will be “the year of electrification, the world is being ‘electrified’ twice as fast as before”. The advances in renewables will help stabilise electricity costs, reducing the exposure to fossil fuels and their price fluctuations and therefore enabling its usage to spread even further.
“In the end, decarbonisation will happen quicker than we think,” concluded Mr Starace, specifying, however, that much remains to be done. “There is still an enormous amount of funds tied up in combustible fuels but, for me, there is hope for an electrified world.”
Enel editorial staff