It is estimated that by 2050 the global population will have risen to 9.7 billion, up from 7.7 billion in 2019. The global economy is expected to more than double over the same period. Urbanization, automation, and the rise of living standards will significantly increase the demand for energy globally. At the same time, we urgently need to reduce our CO2 emissions to counter climate change.
If we continue with business as usual, this scale of expansion will accelerate climate change, and degrade the quality of air and water upon which all living organisms depend. To protect the environment, we need to redouble our commitment to reducing CO2 in the atmosphere. Reaching the goal of net-zero carbon emissions by 2050 will be a tremendous challenge.
In this context, energy efficiency is not an if, it’s a must. It is a simple and impactful solution to mitigate climate change. It’s the low-hanging fruit we need to bridge our path to a future where all energy is clean energy.
It is a low-hanging fruit because a lot of the solutions, technologies and products needed to improve energy efficiency globally already exist today. We just need to take them into use. Energy efficiency is our ‘first fuel’ for a decarbonized future.
With high-efficiency motors and variable speed drives we can do just that. Approximately 45% of the world’s electricity is used to power electric motors in building and industrial applications. It follows that investing to upgrade equipment, as well as adopting the latest developments in digitalization and connectivity, will yield significant rewards in terms of efficiency and sustainability.