Concept paper 1: the challenge
Reaching climate/energy targets in an effective timely manner
One thing is certain: the transition of the North Sea countries to a low-carbon society requires swift and massive changes in the energy system. Today’s energy use is largely fossil fuel based, resulting in significant carbon emissions. The renewable energy share in the EU is below 20%. In other words: the challenge for the energy system is enormous.
Decarbonising the power sector is generally considered to be a first step, as it is cost effective, has significant impact on CO2 emission reduction and is considered possible well before 2050. Offshore wind energy has a major potential for cost-efficient decarbonization, as cost levels have declined rapidly evidenced by new offshore wind projects with limited subsidies. However, deployment rates need to accelerate significantly, which requires a stable market framework and collaboration efforts from suppliers, developers and system operators to keep progress. A concerted action and cooperation across all North Sea stakeholders is required now.
