If Danish companies maintain their current market share in energy-efficient technologies and renewable energy, a coal freeze in the EU will create exports worth DKK 450 billion. This is shown by an analysis published by DI in connection with COP26 in Glasgow.
The calculation does not take into account that there will probably be a need to increase the amount of renewable energy in the coming years, because European societies will be increasingly electrified.
- These are staggering figures. But once the green transition takes off, there is enormous demand waiting. Danish companies have the technologies, but if they are to exploit the opportunities, they must of course have proper frameworks and be able to hire the employees they need, says Anne Højer Simonsen, head of climate policy at DI, to the business media DIBusiness.dk
Coal phase-out is low-hanging fruit
Coal currently accounts for 15 percent of electricity production in Europe – primarily from coal-fired power plants in Germany, Poland and the Czech Republic. But with the EU's climate plan "Fit for 55" and the rising prices for emitting CO2, the consumption of coal will fall – and possibly disappear completely – by 2030.
- It is one of the lowest-hanging fruits when it comes to the climate. Coal-fired power plants pollute and emit large amounts of CO2, and we have the solutions that can replace them. That is why it is super important that the EU has put in place a plan that will lead to less use of coal, says Anne Højer Simonsen.
Coal-fired power plants in the EU emit 360 million tons of CO2 per year. At the same time that they disappear, the EU countries must embark on a major green transition. Companies and citizens must become much better at utilizing energy efficiently, and the production of electricity from coal-fired power plants must be replaced by renewable energy from wind and solar.
This will lead to a growing market for energy-efficient windows, insulation, pumps, thermostats and many other products that help to limit energy consumption. Major investments in wind turbines and solar cells will also be needed, writes DIBusiness.dk
- There is still a lot of energy efficiency to be achieved in European countries, and that would be a sensible place to start. But many wind turbines will also be needed to replace production from coal-fired power plants, notes Anne Højer Simonsen.
The rest of the world is waiting
In India and China, coal is still the most important energy source, and it is unrealistic to expect a stop to the use of coal in the short term. Before COP26, however, China announced that it would no longer support the construction of coal-fired power plants outside of China. And several countries – including Denmark – have promised financial support to phase out coal-fired power plants in Asia, among others.
- There is no doubt that coal is on its way out. The only question is how quickly it will happen. For Danish companies, it is about being ready when the opportunities arise, says Anne Højer Simonsen.
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