The world will need a lot more energy and lower emissions in the years to come. Today, more than one third of global CO2 emissions come from power generation. To reduce emissions, energy companies has started a process of replacing the existing fossil-based energy system with a renewable energy system. NRGY wants to contribute on the path towards decarbonizing the energy sector and meet climate objectives.
The cost of renewable energy is coming down rapidly. Since 2012, the cost of onshore wind has dropped by around 20%, while cost of solar has dropped by around 60%. In the same period, the cost of offshore wind energy has dropped by more than 50%.
The significant cost reductions mean that renewable energy is now approaching a point where it can start to compete head-on with conventional power production. This will make renewable energy the natural choice and one of the most efficient ways to fight climate change. NRGY has defined sustainability focus areas in which the company is to strive for continuous improvement,
- Increase renewables capacity. The upward trend for renewables are taking an increasing market share with a growing number of leading companies committing to ambitious power targets. NRGY want to contribute to creating a world that runs on green energy and enables people to lead sustainable lives.
- Reduce CO2 emissions. Today’s energy system is a large contributor to overall emissions of greenhouse gases. Climate change associated with greenhouse gas emissions is the greatest environmental challenge facing humanity. NRGY wants to contribute in developing environmentally sustainable energy production by reducing CO exposure and transforming the production portfolio towards more renewable production
- Increase resource efficiency. Lower costs and improve competitiveness through more efficient use of resources is important for NRGY. Improved efficiency leads to lower costs per produced kWh of electricity and thereby improves overall competitiveness while at the same time resulting in lower emissions per kWh of generation.
- Sustainable consumption. NRGY want to contribute to creating a sustainable life and use energy smarter and more efficiently. There is a wide range of energy solutions to give customers tools for more sustainable and efficient energy consumption. NRGY’s overall focus is on charging solutions (e-mobility, for example charging stations, charging home boxes and home energy storage), smart home/facility management, smart meters, as well as digitalisation and new online customer interaction models.
The global mean temperature and the concentration of CO2 in the atmosphere are both at the highest levels ever measured. Since the Paris agreement took effect in 2016, the international community has begun a common path to address this challenge, working towards keeping the global temperature rise below 2°C.
The growth in deployment of renewable energy emphasizes the increasingly strong business case for renewables which also have multiple socio-economic benefits in terms of fueling economic growth, creating jobs and improving human welfare and the environment.