A pivotal time for energy technology

● Society faces an energy trilemma: we need access to energy that is secure, sustainable and affordable.

To solve it, we will need to expand and diversify lower-carbon sources of energy, which means scaling 

up new and mature means of generation, fuels and decarbonisation technology.

What is holding back investment in transition technology?

◇ Baker Hughes’ survey finds that the risks of technology, combined with the gloomy economic outlook,

are holding back investment in the energy transition.

◇ Economic uncertainty, technology risk and financing are the top three barriers to investing in energy

transition technology

How to encourage business to make a move?

◇ Companies will look to first movers for reassurance, but those first movers will want some security

and return on their investments in new fuels, decarbonisation technologies and infrastructure.

◇ Offtake agreements, new partnerships and purposeful policy support are three ways to de-risk

technologies and incentivise investment.

Greater use will lower costs

◇ Commercialising technology is an important part of scaling up its use. As technologies and fuels become

more widely used, their costs will come down, which in turn will encourage greater demand.

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