Energy conversion and generation are essential for our daily lives, powering transportation, homes and industry. As we strive towards reducing greenhouse gas emissions, our focus shifts to generating renewable energy carriers such as electricity, hydrogen, electricity-based and biomass-based fuels.
Especially the transportation sector will require renewable energy carriers to replace fossil fuels. If renewable electricity is not used directly, it serves a key feedstock for the production of hydrogen and electricity-based fuels that are gaining relevance in several industries such as aviation. Another viable option are biomass-based fuels that use biomass as feedstock to produce various gaseous and liquid energy carriers. While these biofuels can have a cost advantage over electricity-based fuels, the feedstock availability will be limited.
While these new energy carriers will play a crucial role in the future, they are also leading to a disruption in the energy industry and require a significant transformation of the industry with several pressing questions still unanswered:
• Which renewable energy carriers will be needed?
• What quantity is required?
• Where and how to produce these energy carriers?
• How to form a profitable business model around the new energy carriers?