Utilities

The Future Outlook For Global Heating

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<p style="text-align: justify;">The heating sector is facing an enormous challenge as governments worldwide embrace the challenges of climate change and roll out plans to hit net-zero carbon by 2050. Industry and domestic heating systems predominantly use fossil fuels and many countries worldwide are now starting to introduce policies, that will ultimately lead to a banning of fossil fuel use in appliances. Heating accounts for around 30% of global carbon emissions, and it is going to be a considerable challenge for the industry to meet the new legislative frameworks.</p><p style="text-align: justify;">It is very frustrating to see too many unbiased sources of zero-carbon heating sector advice. These tend to be linked to or endorsing a specific product or system. As an independent expert in Zero carbon heating and hot water solutions, Geoff&rsquo;s mission is to make sure heating businesses, M&amp;As and investors, can navigate through the deluge of conflicting and misleading information.</p><p style="text-align: justify;">For example, often, people focus on heat pumps as a zero-carbon solution. These have several advantages. They can be efficiently designed to fit into new build properties, and the cost can be absorbed into the new build cost and they do not produce carbon monoxide.</p><p style="text-align: justify;">However, the full potential of heat pumps will only be realised if the electricity they use to power them is &ldquo;green&rdquo;. Most countries generate electricity by burning fossil fuels (coal and gas). Nuclear and Renewables still only make up a minority percentage of global electricity generated.</p><p style="text-align: justify;">Natural gas is used for heating, hot water, and cooking in most countries. Heat Pumps do not offer a cost-effective or practical solution for many existing building installations. The key for them is conversion to burning greener zero-carbon fuels like Hydrogen.</p><p style="text-align: justify;">These are just two aspects of the challenges facing businesses and investors in this sector.</p>
KR Expert - Geoff Hobbs