The energy transition is an opportunity for Austria and Europe. The Climate Business Circle presents an energy system vision for 2040. The good news: Industry can grow AND climate neutrality will be achieved by 2040.

The energy transition is an opportunity for Austria and Europe

The energy transition is a key location factor and a fundamental prerequisite for the activities of companies in all sectors, as well as for achieving climate and energy goals. Dependence on energy imports is one of the greatest supply and cost risks for companies. "The CEOs FOR FUTURE energy target massively increases the level of self-generation, thereby strengthening price stability for industry and households. Investments in the energy transition create added value and secure jobs in Austria," explains Christiane Brunner, CEOs FOR FUTURE board member and initiator of the Climate Business Circle, explaining the positive effects of the energy transition and adding: "This also applies to Europe. A renewable energy system requires greater interconnectedness and therefore more European cooperation."

Energy transition is a system change – the entire system must be considered

For a cost-effective energy transition, efficient interaction between all sectors is essential. "The scenario clearly shows: We must already consider everything in context today – renewable energy generation, grid expansion, flexibility and storage options, and sector coupling," says Peter Weinelt, CEO of Wiener Stadtwerke.

Electricity will become the most important energy source and the basis for the decarbonization of all sectors. In the future, three-quarters of energy will come from electricity in transport, more than a third in industry, and more than half in households.

"Sector coupling technologies and storage play a central role in this," explains Weinelt. "They help utilize surplus electricity from wind and solar energy when it is needed in other areas—for example, in heat supply or industry."

“At Wiener Stadtwerke, we are working on solutions that take the entire energy system into account – from sustainable energy generation to grid infrastructure and public transport,” Weinelt emphasizes.

Energy consumption decreases – electricity consumption increases

The CEOs FOR FUTURE energy target envisions a significant reduction in total final consumption from 345 TWh in 2020 to 269 TWh in 2040. However, electricity consumption will increase dramatically, nearly doubling to just under 140 TWh by 2024. The reason for this massive increase in demand for electricity is the electrification of mobility and industry. However, the electrification of the mobility sector also brings the greatest efficiency gains.

Efficiency gains in heat supply and mobility secure the energy needs of industry

"Having sufficient amounts of renewable energy available is essential for industry. Therefore, a massive acceleration in the expansion of renewable energy sources and the associated transport infrastructure is needed," says Haimo Primas, CEO of Holcim Austria, emphasizing the importance of the energy transition for industry. In the scenario, power generation and storage capacities must increase by a factor of four, from 22 GW in 2020 to 80 GW in 2040.

"The CEOs FOR FUTURE energy target clearly demonstrates the importance of a cross-sectoral approach – especially from an industry perspective. Efficiency gains in mobility, primarily through the transition to electromobility, can ensure that industry has sufficient energy available in the future and can continue to develop," Primas adds.

"Our vision shows a path to the goal. We will contribute constructively to shaping this path. A quick start is crucial," says Christiane Brunner.