 Security of supply, strategic storage and Covid19: Which lessons learnt for renewable and recycled carbon fuels, and their future role in decarbonizing transport?David Chiaramonti and Kyriakos Maniatis Applied Energy, 2020, vol. 271, issue C, No S0306261920307285 Abstract: The present work analyses the lessons learnt from the Covid19 (Coronavirus) pandemic that could possibly apply to the energy sector, with a special focus to decarbonizing transport. Distinguishing between short/medium- and medium/long-term options, the scope is to discuss how issues such energy security, energy storage and energy system resilience should deserve more attention. Today, fuel demand has fallen to unprecedented levels, with jet fuel demand being the most affected one. Oil price is at the lowest values recorded for many years while on 20 April it even reached a negative price in the US for the first time in history. While in the short-term low oil prices would be attractive, the long-term negative consequences could be very relevant, with significant associated costs for the EU economy and Member states (MS) related to the collapse of demand and to the socio-economic impacts. New measures should thus be considered in the post Covid19 strategy. In particular, while in a short- to medium-term view the oil sector will require specific support measures to overcome the economic and physical shock brought in by the pandemic, in a medium to long-term perspective domestic sources such as Renewable and Recycled Carbon Fuels (RRCF) should be regarded as a way to secure energy supply, leading to significant technical and economic advantages. Thus, EU should allocate adequate resources in the post-Covid recovery plans to definitely allow the transition to renewable energy sources and particularly to bio-based economy and stainable transport fuels. Keywords: Energy; Alternative fuels; Renewable fuels; Recycled fuels; Advanced biofuels; Security of supply; Single European market; Strategic Energy Storage; Energy System Balancing (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:271:y:2020:i:c:s0306261920307285 Ordering information: This journal article can be ordered from DOI: 10.1016/j.apenergy.2020.115216 Access Statistics for this article Applied Energy is currently edited by J. Yan More articles in Applied Energy from Elsevier |
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