Borderless Renewables Re-Emerges with Key Insights Into Decarbonised Electrification Policy Frameworks

London, United Kingdom, November 07, 2024 --(PR.com)-- After a period of focused scientific research, Borderless Renewables is re-emerging with pivotal insights into the policy frameworks essential for advancing decarbonised electrification. The global energy landscape is witnessing a rapid transformation, marked by the economic value of the electricity industry surpassing that of petrochemicals. Market projections from Allied Market Research and Precedence Research reveal that while the petrochemicals sector is projected to grow from $546.02 billion in 2021 to $1.0 trillion by 2030, the electricity generation market is anticipated to expand from $1.8 trillion in 2022 to $3.9 trillion by 2032. Renewable energy is expected to contribute $2.4 trillion to this significant growth.

This backdrop underscores renewable energy's role as a key driver of an industry-wide shift, challenging traditional dependence on fossil fuels and reshaping policies and energy systems. The move from oil to electricity marks a profound reconfiguration of energy power dynamics, impacting system structures, operations, and strategic policy decisions. The transition from a linear, fossil fuel-based model to a complex, electricity-based system introduces new complexities that must be navigated carefully by both the private and public sectors.

Academic research led by Ionna Trofimova Elliot, a co-director of Borderless Renewables, highlights the importance of collaborative support for "transition brokers"—key agents facilitating the shift from traditional petrochemical-dependent industries to clean energy-powered sectors. Historical context demonstrates valuable lessons: from the mid-1940s to the 1970s, the "Seven Sisters" oil companies (now including ExxonMobil, Chevron, Royal Dutch Shell, and BP) exemplified how powerful intermediaries could shape the direction of global energy systems and influence geopolitics.

The clean energy shift introduces new dynamics, led by brokers who redirect value from traditional carbon-intensive industries to emerging low-carbon sectors. This change is evident in the automotive industry, where economic value is shifting from physical assets, such as vehicles, to software-driven services, such as autonomous driving technology and ride-hailing platforms, an electricity-powered hubs of connectivity. Intriguingly, scientific studies conducted by Borderless Renewables indicate that some of these brokers are indirectly financed and supported by traditional fossil fuel companies facilitating the energy transition themselves.

Identifying these transition brokers within various sustainability transition sectors and designing appropriate public and private support mechanisms for them is vital for expediting the sustainability transition.

To execute this mission, Borderless Renewables is establishing two dedicated policy divisions to advance public policy in conjunction with private support. One division will be based in London, focusing on the UK and European markets, while the other will be in the Arabian Gulf region, headquartered in either Abu Dhabi or Riyadh. Potential partners from these regions are encouraged to explore collaborative opportunities. These divisions will develop and promote transition policies that facilitate the structural transformation of complex systems supported by technological networks and transition brokers. Partner companies will play an integral role in shaping the direction of these units.

Additionally, the Strategy Unit of Borderless Renewables will collaborate closely with the Policy Divisions and Partner companies to ensure that strategic planning, positioning and capital allocation align with emerging policy directions and technological advancements.

We invite you to follow the Borderless Renewables LinkedIn page for updates and register your interest in membership to take a first-row seat in the technological reconfiguration process.