A Aggreko, one of the global leaders in energy solutions, held a survey with 838 professionals in the electrical sector in 13 countries in Latin America, with the aim of understanding companies’ approach to the energy transition.
For 86% of the respondents, the energy transition represents an opportunity or a possible opportunity of business. Although, one third of those interviewed classified that the associated costs are the main barrier to adopt more sustainable energy solutions.
This perception is understandable, says the study, considering that the initial investments are considerable and the financial return is only perceived in the long term.
According to Hugo Dominguez, leader of Infrastructure Utilities for Latin America and the Caribbean at Aggreko, companies' view of costs is due to the lack of incentives, such as a regulated carbon credit market.
“Without a clear counterpart, the energy transition can be seen as an investment with no immediate return. Regulation of the carbon market, with incentives and compensation mechanisms, can change this perception and encourage the adoption of more sustainable solutions”, he said.
Even so, for 54% of respondents the transition to renewable sources is a priority or among the three main concerns related to the business.
The survey asked what the main reasons are why companies are not transitioning to renewable sources. The answers show that the reasons are diverse, but “the Lack of legislative and subsidy clarity poses a significant challenge, indicating that regulatory uncertainties directly impact companies’ decisions”.
For 21% of respondents, companies still are not prepared for the changes arising from the energy transition.
The study also questioned what respondents considered to be the most relevant factor to be worked on to increase the penetration of renewable sources: 35% consider investment in infrastructure as the most relevant factor, followed by the integration of energy storage (22%).
The research also revealed that both solar energy as for wind are considered as technologies that played a crucial role in the energy transition process, as well as the hydrogen and BESS (Battery Energy Storage Systems).
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