Greentech Made In Austria

"Genuine and effective climate protection offers great opportunities: for the environment, for people and also for the many committed businesses and companies that are becoming or are already pioneers of a climate-friendly economy in Austria and internationally," emphasizes Austrian Climate Protection Minister Leonore Gewessler (from the foreword to the brochure  "Energy innovations from Austria - The Green Deal for a climate-neutral future").

The global market is open to these innovative companies. Analysis and research service provider BloombergNEF (BNEF) estimates annual investment in the transformation of the energy system at around half a trillion US dollars.

Investments of half a trillion US dollars a year

The global market is huge, as is the competition. Only the best solutions will prevail. Austria has set itself ambitious targets for climate neutrality by 2040 - more ambitious targets than the EU and many other countries. Many eyes are therefore on us, not least thanks to our good international network (International Energy Agency/IEA, Mission Innovation, etc.). We need to take advantage of this showcase.

Model calculations such as those by the IEA (https://www.iea.org/topics/energy-technology-perspectives ) show that a large proportion of the greenhouse gas (GHG) emissions saved by 2050 will come from technological solutions that are not yet competitive on the market or even available. This applies in particular to the move away from oil, coal and natural gas, i.e. decarbonization, in industry and in the mobility sector (heavy goods transport, aviation, shipping). There are already numerous functioning solutions that are being further supported and innovated in order to make them more attractive and competitive in terms of price. This alone will not be enough. From 2040 onwards, we will need products that are still being worked on in the laboratory. Austria has the researchers and companies to achieve this.

We provide answers on transformation paths

We deal intensively with possible transformation paths and the technologies, market designs and business models that can be used. Not every technically mature technology will prevail on the market; almost everywhere there are existing alternatives and competitors who are also developing further. The potential for green energy is limited, the efficiency of the value chains is an essential criterion for competitiveness and economic sense. Resource potential and efficiency are also key focuses of our work. We don't know the future, but fact-based statements can be derived that provide an important basis for decisions for companies.