ISTANBUL, Dec. 18, 2020 /PRNewswire/ -- The Turkey Energy Outlook is a first-of-a-kind comprehensive, forward-looking assessment of Turkey's energy economy. This recent report has been developed by Sabanci University Istanbul International Center for Energy and Climate (IICEC) and has two scenarios with projections of all key energy variables out to 2040. The Reference Scenario reflects a continuation of current policies but not necessarily achieving the most ambitious and challenging long-term targets. The Alternative Scenario includes additional policy initiatives that, while cost-effective, require more challenging policy obstacles to be overcome.
The Alternative Scenario is estimated to produce many benefits for Turkey. For example, Turkey will produce more renewable and nuclear power while using energy more efficiently and addressing power grid flexibility. Renewable energy will also grow outside of the power sector as industry, agriculture and buildings use less coal and oil in favor of renewables and natural gas. Large reductions are shown in Turkey's energy imports with more energy efficiency, renewables and, especially, reduced imports of natural gas due to continued E&P success shown recently in the Black Sea. While restrictions on GHG emissions are not included among the Alternative Scenario policies, the TEO predicts falling GHG emissions in the Alternative Scenario, even with a projected growth in Turkey's consumption of energy services.
IICEC Director of Research Bora Sekip Guray underlined that an efficient growth progress can be enabled by greater private-sector participation towards more competitive electricity and natural gas markets. Guray said that in the TEO Alternative Scenario significant energy efficiency improvements are achieved in energy use by means of policy choices such as transport modal shifts, energy performance contracts in buildings and developing technologies around electric vehicles, digitalization and many others.
Based on the findings, TEO proposes solid policy recommendations such as an attractive investment framework to mobilize energy investments, increased renewable and nuclear power with more flexibility power grids, and increased energy and fuel efficiency across all sectors. It also suggests strong policy initiatives and innovative financing and business models to exploit energy efficiency potential in buildings and industries. Faster uptake of electric vehicles, faster retirement of older vehicles, and enhanced modal shifts from road to rail and marine are key recommendations for the transport energy economy. TEO also assesses clean energy technology options such as an increased uptake of digitalization as well as R&D and manufacturing of advanced energy technologies.
The TEO is available at https://iicec.sabanciuniv.edu/teo
Photo - https://mma.prnewswire.com/media/1386475/TEO_2020.jpg
