Despite significant progress up to 2021 on improving access to electricity, increasing renewable energy use in the electricity sector and improving energy efficiency, the world is still falling short in providing affordable, reliable, sustainable and modern energy for all.
Due to global events, 2022 has seen substantial increases in fuel costs and threats to carbon-based fuel supplies for all energy users. The number of households experiencing fuel poverty is dramatically rising, reducing the money available for purchasing food and goods.
For real-time insight into the current GB energy mix GridWatch.
How can we pursue SDG7?
There is much that can be done, by individuals and organisations, to reduce energy consumption and increase the use of sustainably-sourced energy.
- Commit to sourcing 100% of operational electricity needs from renewable sources.
- Reduce the internal demand for transport by prioritising telecommunications (e.g. Teams and Zoom), promote car-sharing and incentivise less energy-intensive modes such as train travel over auto and air travel.
- Invest in energy efficiency across business operations, such as insulation, air conditioning and heating units, and low-energy lighting.
- Invest in energy generation technologies, such as solar panels and wind turbines.
- Integrate renewable energy into employee benefits packages, subsidising the capital expenditures associated with residential solar or electric/hybrid vehicle investments.
- Purchase industry-leading low energy consumption equipment, such as PCs, cars, light bulbs, etc.
- Encourage employees and their families to access and use reliable and affordable energy sources by investing in local infrastructure to establish accessible energy services.
The business benefits are tangible in terms of reduced financial costs and impact on the environment.
Battery Storage is Key to Renewables
Battery energy storage systems atre at the forefront of energy storage systems and will boost reliability and the adoption of renewable energy.
Possibly the best-known system is the Tesla Megapack which is a large-scale rechargeable lithium-ion battery stationary energy storage product intended for use at battery storage power stations. Launched in 2019, the original Megapack could store up to 3.9 megawatt-hours (MWh) of electricity. Tesla has realised the potential of this market and is building a dedicated mega-factory to manufacture these systems. In addition, competitors are also ramping up their manufacturing capacities.
SDG7 aims to "Ensure access to affordable, reliable, sustainable and modern energy for all".
It has associated aims that include:
Ensure universal access to affordable, reliable and modern energy services.
Increase substantially the share of renewable energy in the global energy mix.
Double the global rate of improvement in energy efficiency.
Promote access to research, technology and investments in clean energy.
Expand and upgrade energy services for developing countries.
Good Dividends in partnership with QuoLux™ provide purpose-led leadership training programmes to enable leaders to align their businesses with Sustainable Development Goals.