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"In 30 years there will be no more oil, gas or coal sector"

- Countries that are serious about achieving climate neutrality goals today must consider hydrogen technologies and energy storage as an essential part of their policies and economies. Without the development and implementation of hydrogen projects, it is not possible to achieve neutrality of sectors that are difficult to decarbonize, such as industry, heating, as well as the transport sector, especially aviation and shipping - believes Piotr Czembor, CEO of Hynfra Energy Storage.

Piotr Czembor took part in the 4th Polish-British Business, Trade and Investment Forum (BTI), organized by: Embassy of the United Kingdom of Great Britain and Northern Ireland in Warsaw, Ministry of Development and Technology, Polish Investment and Trade Agency (PAIH), in cooperation with Wolves Digital.

They discussed, among others, new technologies in the energy sector, such as hydrogen and energy storage.

Piotr Czembor's opinion:

In the next 30 years there will be no more oil, gas and coal sector. The costs of zero-carbon technologies such as photovoltaics, wind, batteries and hydrogen electrolysis are declining exponentially by about 10% per year. A further decline in these costs is highly predictable and should be factored into national policies. Fossil fuel costs, on the other hand, are about the same as they were 140 years ago (adjusted for inflation), except that their cheap and easy to obtain resources are running out. Further extraction will be more expensive and more difficult. Supply chains are limited to well-defined countries, some of which cannot be considered a secure supplier, as the current situation in Ukraine shows us.

So a quick and decisive bet on renewables could not only save trillions of dollars and euros, but also give us a chance to achieve carbon neutrality without compromising energy security. A fascinating conclusion comes from a paper published last year by a team at Oxford University, which found that a slower transition is more expensive. So to achieve carbon neutrality and phase out fossil fuels without compromising energy security, we must first and foremost implement rapid decarbonization, deploying renewable energy sources (PV, wind, heat pumps, renewable hydrogen, biomethane, energy storage) at least three times faster.

Hydrogen and energy storage technologies are an essential part of this transformation, and they also allow the full potential of renewables to be exploited, saving hundreds of millions of euros lost due to RES constraints and grid limitations. The development potential in this area is enormous. In the case of Battery Energy Storage System (BESS), it could be as much as 100 GWh. The potential for hydrogen use is over 100 TWh.

The UK is leading the way in the development of battery energy storage. They currently have about 1.5 GW of capacity installed, and are projected to have 4.5 GW by the end of 2022. The total number of battery energy storage projects is already around 20 GW. I would like this direction to be realized also in Poland. Great Britain also has a lot of experience in production, supply and use of hydrogen by end users, as well as in development of hydrogen transport. British companies are developing interesting models for hydrogen distribution and investment financing.

I'm sure this move away from fossil fuels to renewable energy will create many opportunities for cooperation between Poland and the UK. It will benefit the economy, create millions of well-paid jobs in green industries. Countries that reap the benefits of this global green industrial revolution will enjoy growth and prosperity for decades to come.

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