Reaching climate target set up by national governments as well as international organisations requires drastic reductions of greenhouse gasses emissions towards 2050 to be achieved.
Current reductions have mainly been in the power and heating sector with limited or no reductions in more difficult to electrify sectors like shipping which accounts for a significant share of global emissions of greenhouse gasses. Tecnological developments in green electrofuels might hold the key to indirect electrification of global shipping industry.
Copenhagen Economics was asked to partake in developing a roadmap for decarbonising shipping toward 2050 as part of a larger collaboration between industry leaders and leading researchers within electrofuels.
In analysing the potential and economic viability we focus on three central aspects:
- Identifying relevant electrofuels for the long-distance shipping sector
- Relevant parameters determining optimal structures of facilities producing green electrofuels
- Required political actions to ensure commercial viability of green electrofuels towards 2050
We have reached three preliminary conclusions:
- Green ammonia have useful traits for use in long-range shipping
- Facilities for production of electrofuels should be designed to fit the characteristics of the geographical location
- Political action in the form of a carbon price by ETS extension or the like is required