“We need a lot of technology innovation and we need to apply innovations that are here…” said Roberto Bocca, Head of the Centre for Energy and Materials, Member of the Executive Committee, World Economic Forum.Technology is constantly advancing. Researchers are exciting about new insulation materials.
- Aerogels are among the new materials for insulation. Aerogels are lightweight, porous materials that have extremely low thermal conductivity, making them highly effective insulators with the potential to reduce energy consumption in buildings by up to 50 percent.
- Another component currently being researched and developed includes vacuum insulation panels which consist of a core material enclosed in an airtight envelope. The panels can provide insulation up to ten times better than traditional materials.
- Bio-based insulation materials derived from renewable resources such as plant fibers can offer a more sustainable and environmentally friendly alternative to conventional insulation products.
- Phase change materials are substances that can store and release large amounts of thermal energy as they change from one phase to another, such as from a solid to a liquid.
In addition to federal funding, greater investments will be required. In fact, IEA believe energy efficiency investments must triple to meet current goals. Unfortunately, the opposite is true. Investment in energy efficiencies, electrification and renewables will slow this year. The ongoing conflict in the Ukraine, delayed construction projects, curtailed government spending, rising interest rates and an uncertain economic future are causing a decrease in energy efficiency investments. The World Economic Forum’s Securing the Energy Transition report agrees the focus on lowering global energy intensity has fallen since 2019 and that current investment is not sufficient to meet net-zero goals.
Bocca continued, “…Above all, we need to understand that energy is not only about supply… we need to talk also about, or work on, the demand side. Because if we lower the demand, we’ll need less energy supply. How we address efficiency on the demand side is really critical to this energy transition.”
The energy crisis, like a fire burning out of control, must be attacked from all sides. Renewables, less reliance on fossil fuels, decarbonization and energy efficiency all have an integral part in bringing about a permanent solution. What part is your utility playing? What part are your customers playing?
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