>
ENERGY
The Energy Transition: Moving Toward Renewable and Carbon-Neutral Solutions The massive shift from fossil fuels to cleaner-sourced energy is not a simple or linear path forward. By Brian Gallagher, Vice President, Corporate Development, Graycor
G
overnments, owners, investors, and consumers are demonstrating a steady commitment to net-zero, carbon-neutral, and other goals, with a focus on replacing fossil-based energy systems with renewable energy sources. Who is going to do the work of bringing us this new future? If you’re in the global energy sector…you are. Leaders of manufacturing and power companies are faced with critical decisions on how to evaluate the best alternatives to fossil fuels and identify the pathways to make those alternatives a reality. So are electric vehicle manufacturers, battery manufacturers, and traditional original equipment manufacturers (OEMs). In addition to power and electrification companies, commercial,
industrial, and retail owners will need to consider accommodating new technologies such as electric vehicle (EV) charging stations. The massive shift from fossil fuels to cleaner-sourced energy is referred to as “energy transition,” and it is not a simple or linear path forward. No one knows this better than energy sector professionals, who are dealing with a convergence of regulatory, legislative, economic, environmental, and societal issues. Owners, utilities, and operators must develop plans that allow them to meet new sets of goals while meeting demand requirements. An element of these plans should be to work with engineering, construction, and technology providers during capital project planning. These professionals can help assess the company’s or facility’s current situation, help identify and evaluate alternatives, and develop recommendations and an approach. Specific services that can support owners as they implement changes include energy consulting, design, construction, and managed project delivery. Energy projects that lead companies toward their carbon-reduction goals will be a combination of renewable generation and integration, back-up generation, energy storage, carbon capture and storage (CCS), and transmission and distribution (T&D) infrastructure. Some owners are utilizing natural gas as a “bridging strategy” on their journey to a complete transition to clean energy. Working with engineering and construction professionals, owners can combine a variety of components and technologies to create a customized project that will help them not only meet their carbon goals but fulfill ongoing demand.
Energy Transition Options Some sectors, especially heavy industrial, may find it very difficult to transition away from fossil fuels. Carbon Continued on page 24
20
AREA DEVELOPMENT
TheEnergy.indd 20
for free site information, visit us online at www.areadevelopment.com
5/26/22 12:54 PM
