Sustainability
Fueling the EU ’ s industrial sector with cost-efficient , sustainable power
The EU ’ s industrial sector is navigating a challenging landscape shaped by high energy costs , lingering effects of the COVID-19 pandemic , and supply chain disruptions . Despite reduced electricity prices in 2023 , European industries still face significantly higher energy expenses compared to their global counterparts , impacting competitiveness . Innovative solutions like Climeon ’ s HeatPower 300 system offer a pathway to increased energy efficiency and sustainability , potentially boosting industrial growth and stability .
Text & images by Climeon .
While shallow integration of the single market , lack of a capital markets union and limited investment incentives have all been cited as causative factors in the EU ’ s comparative lack of industrial growth and innovation ( Euractiv , 2023 ), experts also maintain that the cost of power is hampering growth in the EU ’ s industrial sector ( IEA , 2024 ). Although the price of electricity in 2023 was substantially lower than in 2022 , industrial companies in the European Union were still paying almost twice the amount for electricity than their American and global counterparts ( IEA , 2024 ). For energy-intensive industrial companies , these increased costs make it difficult to remain competitive in a global market . And it isn ’ t just the industrial sector ’ s economic growth that ’ s lagging behind expected targets . According to the IEA ’ s latest Tracking Clean Energy Progress report , global industry is not on track to achieve NZE 2030 targets . The need for economic growth and increased sustainability are often seen as opposing goals yet experience shows that
these two objectives needn ’ t be competing . In fact , selecting the right sustainable technologies could help to accelerate industrial growth in the EU and safeguard its future .
Is green energy the answer ? Industry is notoriously energy-intensive , so any disruption to the energy markets has a significant impact on the industrial sector . Europe ’ s proximity to and historical reliance on Russian gas means the EU ’ s industrial sector was amongst the hardest hit by the global energy crisis – and it ’ s still trying to recover . Wary of falling victim to spiraling energy costs and limited supplies in the future , today ’ s industrial companies are actively looking for power sources that are :
•• Cost-efficient
•• Localized
••
Dependable
At the same time , increasing environmental regulation means industrial companies are also seeking ways to reduce greenhouse gas ( GHG ) emissions and minimize their environmental impact . But what if industrial firms could access power that is costefficient , localized , dependable and sustainable ? By using CleanTech solutions to generate reliable , on-site , cost-efficient sustainable energy , the industrial sector can :
• Increase energy stability
• Reduce reliance on the grid
• Protect against volatile energy markets
• Reduce energy costs
• Lower GHG emissions
And that ’ s where Climeon ’ s HeatPower 300 system comes in .
40 Heat Exchanger World September 2024 www . heat-exchanger-world . com