Global Energy Potentials
& Efficiency
Making global energy potentials usable
While the share of global renewables in power generation is growing steadily, it was only 23.2% in 2019 according to the International Energy Agency (IEA). The IEA concludes that to achieve "net-zero emissions by 2050," renewables must account for more than 60% of electricity generation by 2030. The expansion of renewable electricity generation is key - not just for eFuels but for achieving our climate goals. In line with the international dimension, the solution requires a globally thinking approach. Greenhouse gases and fossil fuels must be reduced everywhere. Whether hydroelectric power in Norway, wind turbines in Chile or photovoltaics in the Sahara - ideal locations exist in many different countries. There is sufficient renewable energy potential worldwide that can be stored by using eFuels and distributed using existing infrastructures (refineries, tankers, pipelines, gas stations).
While expanding eFuel production in third countries, technology is exported, investments are made and value is generated. By analyzing multiplier effects that amplify the impact of local investment, research shows that eFuels production could create up to 278,700 new jobs, 18,900 directly and 259,800 indirectly with upstream suppliers. This applies to almost all countries in Africa and the Middle East, but also to large parts of Central and South America and many countries in Asia and Australia. Economically weaker countries in particular would benefit from this, but also those that are heavily dependent on fossil fuel exports. Further studies using Morocco as an example show that every euro invested in eFuels generates an additional €12 in value added locally. Globally, according to a publication in the journal ‘Energy’ hydrogen and its derivatives will create 3.6 million jobs directly. Apart from jobs directly related to e-fuel, millions of jobs are expected to be added in relation to electricity and storage needed to produce these fuels. Almost 37 million jobs are expected to be added globally in the power sector in 2050. Storage is expected to provide another 9.8 million jobs globally. Many of the newly created jobs can be expected in Africa, Northeast Asia and South America.
Efficiency differences are compensated
In the sunniest spots in Germany, such as Freiburg, the sun shines for an average of 1,700 hours a year, while in the Sahara it shines for more than 3,000 hours a year. A wind turbine in Chile has about 4 times more full load hours than a comparable one in Germany. It is true that more energy is needed to produce eFuels than for direct electric applications. However, this is compensated by the higher energy yield at favorable locations, which means that efficiency differences in production compared to direct electrification are equalized. It is also clear that renewable electricity from Patagonia or North Africa can only be imported by converting it into "transportable" molecules. Those abundant energy sources are also not in competition to the direct use of electricity and are supporting the local expansion of renewable electricity generation.