According to a study published by consulting firm Deloitte , there are two reasons for this positive development: First, the costs for solar and wind energy in many parts of the world are now comparable with or lower than those for conventional sources and can be better absorbed due to increasingly cheaper storage. Second, new technologies are accelerating the deployment of renewables: For example, artificial intelligence (AI) is optimizing the use of renewable energies, while blockchain is revolutionizing the market for green electricity certificates. “It’s no longer a question of if renewable energy sources are going to be integrated on a large-scale, but of when conventional sources will no longer be required,” says Dr. Thomas Schlaak from Deloitte.

A brief expert repor t compiled by ‘Hamburg Institut’ for the German Renewable Energy Federation (BEE) and HANNOVER MESSE drew attention to the enormous potential back in April 2018. According to this report, while renewable energies have to date only marginally covered the energy required in process heating and cooling applications (at just under 6%), there is great technical potential for decarbonizing industry. “With CO2 pricing and further measures, such as energy-related planning and building, and better incentives, successes will also be quickly achieved,” continued the report.