There’s a lot of talk at the moment about switching trucks over to a potentially cleaner source of energy than diesel.
And it looks like the technology is pretty much ready to go (check out our recent electric truck test drive).
With margins already tight and diesel being relatively affordable, a stampede towards making the switch looks a fair way off, perhaps primarily due to financial concerns.
But a new report though says the road transport industry in developed nations like Australia shouldn’t be too concerned about the financial costs of going green.
The Energy Transitions Commission (ETC) has released the findings of their report into the reaching of net-zero carbon emissions from heavy industry and heavy-duty transport sectors by 2060.
They say the goal is both technically and financially possible, with minimal additional expense to the end user/consumer.
Cement, steel, plastics, trucking, shipping and aviation contribute about 30% of the world’s total energy emissions today.
Bringing that down to near zero would, according to the report, cost the global economy less than 0.5% of GDP by mid-century, and could be reduced even further by improving energy efficiency.
How would this be achieved?
By making better use of carbon-intensive materials (through greater materials efficiency and recycling) and by limiting demand growth for carbon-intensive transport (through greater logistics efficiency and modal shift).
In heavy-duty transport, electric trucks and buses (either battery or hydrogen fuel cells) are likely to become cost-competitive by 2030.
The researchers also found that Hydrogen use will almost certainly increase dramatically (7-11 times by mid-century).
“This report sets out an optimistic but completely realistic message – we can build a zero-carbon economy with a minor cost to economic growth. – Adair Turner, co-chair of the ETC.
“We should now commit to achieving this by 2060 at the latest and put in place the policies and investments required to deliver it.”
Check out the full report on the ETC website.
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