Global Energy Potentials
Making global energy potentials usable
While the share of global renewables in power generation is growing steadily, it was only 23.2% in 2019 (source IEA). The International Energy Agency (IEA) concludes that to achieve "net-zero emissions by 2050," renewables must account for more than 60% of electricity generation by 2030. 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).
At the same time, technology is exported, investments are made in other countries, 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 (Source Frontier economics). 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 (Source Preissler (2020)).
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 4,300 hours a year (source: Die Zeit). A wind turbine in Chile has about 4 times more full load hours than a comparable one in Germany (Source PtX Allianz). 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.