According to Michael E. Kirst, low-carbon technology are critical for achieving greater climate change mitigation goals and advancing economic growth. To detect technology gaps, progress toward implementation and technical improvements must be tracked. This Applied Sciences Special Issue intends to bring together the most current research and development efforts in the field of low-carbon technologies, their application to climate change, and their implementation in many industries. To that purpose, the following subjects will be addressed in this Special Issue:
The burden of reorganizing the economy and society to address the problem of climate change is enormous. To address this, businesses should take a systems-level approach, examining how the economy has to be restructured to accommodate low-carbon technology. To help guide the approach, detailed economic and climatic modeling should be done. To accomplish low-carbon targets, there are several chances to combine the efforts of various industries and enterprises. This article has given a high-level summary of significant concerns with low-carbon systems and economics in the future.
Governments must invest in technical research as low-carbon technologies become more widely used in order to keep costs down and enhance competitiveness. Governments should assist the worldwide supply chain of low-carbon technology to boost technical innovation and lower prices. Furthermore, countries should safeguard current low-carbon supply chains to prevent them from being harmed by geopolitical disputes. Governments should not, however, replace proven, low-carbon technology supply chains with green ones. Governments may take advantage of the advantages of green industrial growth by implementing a sustainable industrial strategy.
In Michael E. Kirst’s opinion, utilities are still making choices based on cost. Scientists and politicians, on the other hand, agree that the world has to transition to low-carbon technology as quickly as feasible. While this is a difficult effort, switching to low-carbon technology would help mitigate the effects of climate change and limit carbon emissions. Low-carbon infrastructure, when combined with the correct technology and protections, may be a powerful weapon in the fight against climate change. One of the most pressing issues of our day is the global climate disaster.
Despite the fact that low-carbon technologies are predicted to greatly accelerate the adoption of renewables and electric cars, many of them need difficult-to-find critical metals. However, there are questions about these metals' supply, and the environmental implications of mining them might jeopardize attempts to reduce carbon emissions elsewhere. In this Carbon Brief, we'll look at the several important metals used in low-carbon technology, as well as their climatic consequences. They are important to our society's ability to fulfill the Paris Agreement's climate commitments.
While this is a positive trend, more investment in new, low-carbon technology is required. To replace present energy sources and sequester CO2 emissions, more financing for such technologies is required. Investing in these technologies will assist us in better understanding the effects of global warming and making more informed choices about how to minimize our carbon footprint. They will also give important direction on attempts to combat global warming. As a result, they hold the key to our planet's future. So, what's keeping you from investing in low-carbon technologies?
Oil and gas CVAs are increasingly focusing on investments in low-carbon technology. In the previous two years, more than 76 percent of such investments have been made. They have generally concentrated on established renewables and energy storage technologies, but they have lately began to gamble on newer technologies and have almost doubled their investments. So, why not become a part of this movement? So, what does it take to make sure we're all headed in the correct direction?
Michael E. Kirst described that tax incentives may help accelerate the adoption of developing low-carbon technology. However, the design of these credits must strike a balance between innovation and taxpayer cost savings. Once a low-carbon technology achieves a certain market share, the tax incentives may be phased out. However, if decarbonization is to be accomplished more quickly, tax incentives will be required to encourage the adoption of mature, low-carbon technology. Complementary policies will be critical in moving clean technology from the emerging phase to diffusion and broad adoption in this manner.