Recording of Tuesday, June 18, 2024 | The smarter E Europe | Conference Program | Language: English | Duration: 14:27 .

Vegard Vollset Discusses Solar Energy's Critical Role in Europe's Carbon Footprint Reduction Amid Global Decarbonization Efforts at Rystad Energy Presentation

Vegard Vollset, head of renewables and power research for Europe, Middle East, and Africa at Rystad Energy, presents on the impact of solar energy on Europe's carbon footprint. He outlines four key topics: understanding the global energy system from generation to consumption; exploring which energy mix can lead to decarbonization; determining if a decarbonized energy mix is efficient; and discussing solar's role in setting the pace for this transformation despite substantial challenges. Vollset emphasizes the complexity of transitioning from fossil fuel dependency to renewable sources like solar, wind, hydroelectricity, and nuclear within 26 years to meet a 1.5-degree climate scenario. This shift involves not just changes in primary energy sources—moving from over 80% reliance on gas, coal, oil—to achieving 90% renewable or nuclear by 2050 but also transforming how we transport that energy—from primarily liquid fuels today to predominantly electricity (70%). Despite anticipated increases in demand across all sectors due to population growth and economic development (e.g., China’s rising electricity demand), efficiency gains can be realized as we move away from burning fossil fuels towards more efficient electrical systems. Solar deployment plays an integral part here with significant required ramp-up globally by mid-century.

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Speaker

Vegard Vollset
VP- Head of EMEA Renewable
Rystad Energy
Norway

Talk of session: Global & European Decarbonization Strategies: Challenges & Solutions on Solar's Path to Become the World's Major Power Source

As solar energy continues its strong global growth trajectory, exceeding all expectations, more and more obstacles are appearing on the long way towards completing the energy transition. The question is: what is needed to unleash solar's full potential in Europe and globally, and what can realistically be achieved? This session will discuss:

• Global Market Outlook for Solar Power 2024–2028 (report launch)
• Solar power's role in European and global decarbonization strategies
• Solutions for unlocking the vast potential of solar

Further Talks of this session:

Introduction & Global Market Outlook for Solar Power 2024-2028

Speaker

Michael Schmela
Executive Advisor
SolarPower Europe
Belgium

To Talk

Tripling Renewable Energy by 2030 - Time 4 Action: Status and Next Steps

Speaker

Bruce Douglas
CEO
Global Renewables Alliance
Belgium

To Talk

Quantifying the Flexibility Needs of Solar and Its Impacts on European Market Growth Until 2040

Speaker

Dr. Juan Rivier
Head of Global Regulation
Iberdrola
Spain

To Talk

Panel Discussion: How to Overcome Challenges to Tap Solar's Full Potential?

Speaker

To Talk