歐洲風(fēng)能產(chǎn)業(yè)鏈現(xiàn)狀

TheStateoftheEuropeanWindEnergySupplyChain

A?what-would-it-take?analysisoftheEuropeansupplychain’sabilitytosupportambitiouscapacitytargetstowards2030

ARystadEnergyreportincooperationwithWindEurope

April2023

2

Aboutthisreport

ThisreporthasbeenproducedbyRystadEnergyin

cooperationwithWindEurope.ItisfocusedonEurope’swind

supplychainanditsabilitytosupportambitiouscapacity

targetsfor2030.

TheoutsetofthereportisbasedonWindEurope’scapacity

outlookforwindpowerinEuropeinits“2030Targets

Scenario”presentedinthe“WindenergyinEurope2022–

Statisticsandtheoutlookfor2023-2027”reportpublishedin

February2023.

Usingthiscapacityoutlookasanexogenousfactor,Rystad

Energyhasapplieditsmodelsandindustryknowledgeto

estimatetheresultingdemandforcomponents,servicesand

materialsalongthevaluechaintowards2030.

Throughextensiveresearchonthecurrentandannounced

supplycapacities,RystadEnergyaimstoidentifypotential

supplychainrisksandbottlenecksaswellasassessthe

urgencyofthenecessaryexpansions.Assuch,allanalysisin

thisreporthasbeendonebyRystadEnergy,ifnotexplicitly

mentionedotherwise.

RystadEnergyhasalsocontributedtothebackground

materialinthisreport,describingthecurrentstatusofthe

Europeanwindmarketanditssupplychain,inadditionto

describingthecomponentsandmaterialsthatareessential

forthewindindustry.

Basedonthefindingsinthisreport,WindEuropehas

provideditspolicyrecommendations.

RystadEnergy–TheStateoftheEuropeanWindEnergySupplyChain–April2023

Foreword

RystadEnergy–TheStateoftheEuropeanWindEnergySupplyChain–April2023

Europe’senergymixissettoseeasignificanttransformationtowards2030astheclimateemergencyandtheenergycrisisinthewakeofRussia’sinvasionofUkrainearepressuringtheregion’sabilitytosecurereliable,affordable,andcleanenergysupply–achallengesettocontinuefortheyearstocome.

TheenergytransitioninitiativesinEuropewereacceleratedduringtheCovid-19pandemic,asmeansofrebootingeconomieswhilesimultaneouslytakingstepstowardsreachingclimatetargets.Asthemarketsgraduallyrecoveredpost-pandemicfromhighinflationarypressure,Russia’sinvasionofUkraineinFebruary2022shiftedthefocusofEuropeanpolicymakersfromenergytransitiontoenergysecurity.

PolicymakersrespondedtotheneedtoreducedependencyonRussiangasbyincreasingdomesticsupply,buildingnewimportterminalsforLNGtoshiftimportroutes,andsignificantlyliftingrenewabletargets.Forthelatter,windenergyinEuropewasidentifiedasakeyenergysourcerequiredtoreachEuropeanrenewablecapacityambitions.TheREPowerEUplanwaslaidoutlastyear,whichWindEuropeconcludedwouldrequire440GWofoperationalwindcapacityby2030andanaverageinstallationrateof30GWannuallytowards2030.Inaddition,countriesestablishednationaltargetsforonshorewindandoffshorewindandkickedoffcooperationinitiatives–suchastheEsbjergandMarienborgDeclarationsforoffshorewind.

Someofthemainpolicyinitiativesforwindin2022wereaimedatraisingtargetsandsupportingthembyshorteningpermittingprocedures,whichwasidentifiedasthekeybottleneckinreachingnewambitions.Inrecentmonths,wehavealsoseenseveralEuropeannationsmakingnewareasavailableforwindenergy,whichisaimedatbackingthemassivebuild-outneeded.

However,focushasnowbeenshiftedtowardsthesupplychain’sabilitytosupportsucharapidramp-upinactivitylevels.Moreover,Europeanenergyindependencehasbroadenedtoincludethesupplychainandcriticalrawmaterials,whichaddstothechallenge–notonlywillactivitylevelsspiketonewheights,butthegrowingdemandshouldprimarilybemetbydomesticsupply,andnotanincreaseinimports.

FortheEuropeanwindsupplychain,thechallengemayseemtoolargetohandle.Windturbinemanufacturershavereportedlowmarginsandpoorfinancialresultsforseveralyears,alongwithmanyothercompaniesalongthevaluechain.Also,themoreestablishedonshorewindmarketinEuropeneedstogrowtoreachEuropeanambitions,whiletheyoungeroffshorewindindustrywillseeactivityacceleratethisdecade.

Foroffshorewind,costreductionsobservedoverthepast5-10yearshavebeendrivenbytherapiddevelopmentinturbinesizes.Largerturbinesimprovetotallifecycleeconomics,anddevelopers’naturalaffinitytowardsthelargestmodelsinthemarketledtoaracebetweenOEMstoprovidethebiggestandmostefficientturbines.ThishascomeatthecostofsignificantR&Dbudgetsamongtheturbinemanufacturers.

Atthesametime,thedemandforoffshorewindacreagehasincreasedsubstantiallyinrecentyears,exacerbatedbylegacyoilandgasmajorsmovingintothesectorwithdeeppocketsandahighwillingnesstopay.Higheracreagebidsandlowerstrikepricesincreasedtheneedforfurthercostreductions,andthecostcuttingpressurehastrickleddownthroughthesupplychain.Ontopofthis,inflationinthewakeofthepandemicandRussia’sinvasionofUkrainecontinuetochallengethealreadypressuredmargins.

Theturbinetrendcreatesrippleeffectsfortheentirevaluechain.Othercomponentssuchasfoundationsandinter-arraycablesmustbechangedtohandlethelargerturbines,andhandlingandliftingcapabilitiesmustbescaleduptoaccommodategrowingcomponentsizes.Thisaddstothechallengeofthesheeractivitygrowth.

Whilethedemandoutlookseemsincreasinglystrongandcertain,thesupplychainislagging.Onereasonissuppliers’abilitytoexpandinahigh-inflation,low-marginenvironmentwherecapitalcostsaregrowing.Anothersourceofuncertaintyisthepaceatwhichdemandischanging.Whenfacedwithapotentialexpansion,suppliersmustaskthemselveshowfuture-proofthisis.Theriskofscalingupandquicklybecomingobsoleteaddsuncertaintyfordecisionmakersandpushesfinalinvestmentdecisionsoutintime.

OuranalysisshowsthattimemaynotbesomethingthatEuropehasinabundance–ifambitiouscapacitytargetsaretobemet.Therapidactivitygrowthneededtoreachtargetswillincertainsegmentsrequirelargesupplychainexpansions,andifnot,bottlenecksmayoccuralreadyby2024/2025.Toavoidthis,suppliersmustmakedecisionstoexpandeitherthisyear(2023),orthenext.Thismeansthatforthosesuppliers,astronginvestmentsignalmustbegiventoday,andthatthetimeforactionisnow.Consequently,Europeanpolicymakerswillfacethedifficultbalancingactofreachingtargetsandsecuringadomesticsupply.

AlexanderDobrowenFl?tre

HeadofOffshoreWindResearch,RystadEnergy

3

4

Tableofcontents

Executivesummary5

Keyfindings

Introduction

6

7

Scopeofthereportandapproach

7

WindmanufacturingfacilitiesinEurope

9

WindEuropescenariosandoutlooks

11

Part1–Currentstatusofthemarket

13

PoliciesasthemaindriverofrenewableenergyinEurope

13

Powerprices,inflationandsupplierfinancials

15

REPowerEUandtheGreenDealIndustrialPlan

19

Europe’smaterialproductionandimportdependency

22

Part2–Futuresupplychainrisks

24

Turbines

25

Towers

33

Cables

35

DemanddriversforEuropeanoffshorewind

36

Foundations

37

Windturbineinstallationvessels

39

Otherpartsofthewiderwindsupplychain

40

Materials

41

Part3–Policyrecommendations

50

Appendix

51

RystadEnergy–TheStateoftheEuropeanWindEnergySupplyChain–April2023

5

Executivesummary

WhatwouldittakeforEurope’ssupplychaintodeliveronwindenergyambitions?

TheaimofthisreportistoassessthestateoftheEuropeanwindsupplychainanditsabilitytosupportambitiouscapacitytargetstowards2030.TheoutsetoftheanalysisisWindEurope’s2030TargetsScenariopresentedinitsreport“WindenergyinEurope2022–Statisticsandtheoutlookfor2023-2027”publishedinFebruary2023.ThescenariodescribesthenecessaryEuropeanUnionwindcapacityadditionstowards2030toreachthetargetssetintheREPowerEUplan,andthoserequiredfornon-EUEuropeancountriestoreachtheircapacityandclimatetargets.RystadEnergyhasusedthiscapacityoutlooktoestimatethedemandforcomponents,servicesandmaterialsalongthewindsupplychainandcomparethistoexistingsupplycapacitiesinEuropetoidentifypotentialbottlenecks,expansionneeds,andtheurgencyofthepotentiallynecessaryexpansions.

AnotherimportantbackdropisthefocusonboostingEuropeanindependence,notonlyinenergy,butalsofromasupplychainandmaterialsourcingperspective.Assuch,thefocusinthisreportisprimarilyonEuropeansupplyanditsramp-upneeds,andtoalesserextentontheneedtoincreaseimports.Thereportintroducesatrilemmaframework,describingthebalancebetweenreliability,affordabilityandsustainability,andthisisreferencedwhereapplicablethroughoutthereport.

Part1describesthecurrentstatusoftheglobalandEuropeanenergymarketsandtheEuropeanwindindustry.Itprovidesasummaryofthecurrentpoliciesaimedatsupportingashifttowardsincreasingwindenergy(andotherrenewables)inthepowermixandincreasingEuropeanenergy,supplychainandrawmaterialindependence.

Thepastyearhasbeenmarkedbyabalanceofrecordrenewableenergydevelopmentactivityandmajorchallengesforthebroaderenergytransitionindustry.

Russia'sinvasionofUkraineledtoaglobalenergycrisis

Source:RystadEnergyresearchandanalysis

thathitconsumershardbutunderlinedthekeyroleofrenewableenergyinEurope'senergysecurity–andnotonlysustainability.Whiletheenergycrisisandpost-Covid-19recoveryspurredrenewableenergycommissioning,materialsandcomponentspriceinflationhasputthewindenergysupplychainunderseverefinancialpressure.AlthoughEuropehasmanagedtoovercomethewinterseasonandtheinflationcrisishasstartedtoease,manychallengesremain.Therefore,theenergytopichaskepttheEuropeanCommissionbusy,withmanyenergypoliciesannouncedduringtheyear.TheREPowerEUplansetoutaEuropeanenergyroadmapto2030,andtheongoingGreenDealIndustrialPlanaimstoprovidethehighlynecessarysupporttoachievetheseambitions.

Part2considersthecurrentandfuturesupplycapacitiesintheEuropeanwindindustry,andthedemandforcomponents,servicesandmaterialsestimatedbyRystadEnergy,basedonWindEurope’s2030TargetsScenario.Theestimatedsupply-demandbalanceshowsthatforwindenergycapacitytargetstobemetby2030,therewouldbeaneedtorapidlyexpandcapacitiesacrossthesupplychainuniquetowind,includingturbines,towers,foundations,windturbineinstallationvessels(WTIVs),andmore.ThekeyfindingsofthequantitativeassessmentofselectedpartsoftheEuropeanwindsupplychaincanbeseeninTableAonthenextpage.

WhiletheambitiouswindenergycapacitytargetswouldrequirenearlyallpartsoftheEuropeanwindsupplychaintoberamped-up,ouranalysisshowsthatthoserelatedtooffshorewindwouldbemostcritical.Comparedtoonshorewind,whereactivitylevelsneedtoberampedupfromalreadyhighlevelsandwithlimitedgrowthinturbinesizes,offshorewindisforecasttoseeasteeperincreasetowards2030,withturbinesizesexpectedtogrowrapidly.Thisisexpectedtoput

significantpressureonthemanufacturingofturbineslargerthan12MW,large-diametermonopiles,andfloatingfoundations.Forthesamereason,expansionsareexpectedtoberequiredfornext-generationWTIVs.Theseexpansionsareextremelytime-sensitiveasanundersupplyisexpectedaroundmid-decade,withexpansionsinneedofbeinginitiatedasearlyas2023-2024duetolead-times.

Onshorewindisalsoexpectedtodrivemanufacturingexpansionneeds,especiallyontheturbineside,drivenbythesheeractivityincreaserequiredtoreachtargets.

Severalotherpartsofthewidersupplychainwouldbepressurediftargetsaretobereached:transmissionandgridinfrastructureisexpectedtobesqueezedbyanincreaseinwind,inadditiontoagrowthinrenewables,andageneralelectrificationoftheenergysystem;skilledlabormayserveasabottleneckforspecializedpartsofthewindsupplychain;othervesselsegmentssuchasfoundationandcableinstallation,serviceoperationvessels(SOVs)andanchorhandlingtugsupply(AHTS)vesselsforfloatingwindareexpectedtoneedfleetexpansions;portsneedupgradingtosupportthelarge-scalebuild-outofoffshorewindandtheindustrializationoffloatingwind;andfloatingwindwouldrequiremooringlinemanufacturingtoberampedupsignificantly.

Materialdemandisexpectedtogrownearlyfour-foldtowards2030iftargetsaretobereached.Assessedaccordingtotheirrelativeimportanceinwind,theexpectedgrowthtrajectorytowards2030andrelativescoreonreliability,affordabilityandsustainability,steel,copperandrareearthmineralsareseenasmoststrategicallyimportant.Thelattertwoareassessedasatmostrisk,duetotheirrapiddemandgrowth,Europe’srelativelyhighimportrelianceforthesematerials,andtheircriticalroleincablesandturbines,respectively.

RystadEnergy–TheStateoftheEuropeanWindEnergySupplyChain–April2023

6

Executivesummary

Keyfindings

Segment

Industry

Sub-

segment

2022-2030

demandgrowth*

Timetoaction*

Urgency

assessment

Comment

Turbines

Onshore&

Offshore

wind

Total

market

~3X

Capacity(MW)

2024-

2025

?Highinflation,lowmarginsandanR&DracetosupplythelargestturbinesonthemarkethasputpressureonwesternOEM’sabilitytoexpandmanufacturingcapacitiesorrepurposefacilitiestoaccommodateachangingdemand.

?Whileonshorewindturbinesizedemandisrelativelymorestable,expansionofmanufacturingisneededtomatchgrowthinactivitylevelsinthe2030TargetsScenario.

?Offshorewindservesasthekeychallenge,withalargegapbetweencurrentmanufacturingcapacityandprojecteddemandforthelargestmodels.

?RotorblademanufacturingrepresentsthecurrentbottleneckforEuropeanturbinesupply,butbothneedarapidexpansiontomeetdemandinthisscenario.

Offshore

wind

>12MW

turbines

0-29GW

2024

Towers

Onshore&

Offshore

wind

All

~2.5X

Metrictons

2025

?Centralizedtowersupplyforalargerrangeofturbineshasenabledthesupplychaintoexpandwithgrowingactivity.

?Towerdemandwillbedrivenbyarelativelyhighnumberofonshorewindturbines(comparedtooffshorewind)andincreasingoffshorewindactivityandsizes.

?Growthisexpectedtoaccelerateinthesecondhalfofthedecade,creatinganadditionalneedforexpansion.

Foundations

Offshore

wind

Monopiles

~12X

Metrictons

2024-

2025

?MonopileswillremainthemostpopularconceptinEurope,andwithrapidgrowthinactivityandturbinesizesinoffshorewind,manufacturingmustbescaledupquicklywithinthelargestmonopilesegments.

?JacketmanufacturingcapacitylessconstrainedthankstoO&Gindustry.

?Floatingfoundationmanufacturingmustbeindustrialized.Today,itischaracterizedbypilots,demosandpre-commercialprojectswithone-offmanufacturingandfewunits.Fromthissmallbasis,manufacturingcapacitymustgrowsubstantiallytowardstheendofthedecade.

Other

grounded

~7X

Metrictons

None

Floating

~23X

Metrictons

2024

WTIVs

Offshore

wind

Total

market

~7.5X

Vesselyears

2024-

2025

?Strongfleetadditionsinrecentyearshaveputsupplyinastrongpositiontocoverdemandinthenexttwotothreeyears.Increaseddemandinthesecondhalfofthedecade,primarilyinthelargestturbinesizerangeswillputpressureonsupply.

?AglobalfleetandincreasingdemandoutsideEuropewilllikelypullsupplyoutofEurope,worseningthesupply-demandbalance,withnewunitsforecasttobeneeded.

?Anincreasingshareofdemandinthe15-20MWrangetowards2030willalsodriveaneedfornewunits,asthefleetofvesselscapableofinstallingtheseunitsiscurrentlylimited.

>12MW

turbines

0-25

vesselyears

TableA:Keyfindingssummary,selectedpartsofthesupplychainuniquetothewindindustry

*EstimatedEuropeandemandbasedon2030TargetsScenario.Timetoactionreferstotheestimatedyearwhensupplyexpansionsneedtobeinitiatedtoavoidapotentialbottleneck.Formoreinformation,seePart2. Source:RystadEnergyresearchandanalysis

RystadEnergy–TheStateoftheEuropeanWindEnergySupplyChain–April2023

Introduction

Scopeofthereportandapproach

Scope

TheaimofthisreportistoassessthestateoftheEuropeanwindsupplychainanditsabilitytosupportambitiousEuropeanwindenergycapacitytargetstowards2030.

TheoutsetoftheanalysisisWindEurope’s2030TargetsScenariopresentedinitsreport“WindenergyinEurope2022–Statisticsandtheoutlookfor2023-2027”publishedinFebruary2023.ThescenariodescribesthenecessaryEUwindcapacityadditionstowards2030toreachthetargetssetintheREPowerEUplan,andthoserequiredfornon-EUEuropeancountriestoreachtheircapacityandclimatetargets.

RystadEnergyhasusedthiscapacityoutlooktoestimatethedemandforcomponents,servicesandmaterialsalongthewindsupplychainandcomparethistoexistingsupplycapacitiesinEuropetoidentifypotentialbottlenecks,expansionneeds,andtheurgencyofthenecessaryexpansions.Assuch,thereportcanberegardedasa“what-would-it-take”analysisoftheEuropeansupplychain’sabilitytosupportEurope’swindenergyambitionstowards2030.

Itisimportanttonotethatthe2030TargetsScenarioisatheoreticalone,assumingagradualincreaseininstalledcapacityperEuropeancountry,accordingtotheir2030ambitionsforonshoreandoffshorewind,respectively.Itdoesnotconsideractualprojectsinthepipeline,orwhethertheleadtimesforeachcountry’scapacityadditionsarefeasible.Thus,forsomecountriesthecapacityadditionsmayinrealitybehigherorlowerintheshort-term,andviceversainthelongerterm.Onaverage,RystadEnergyseesitlikelythatactualshort-to-mediumtermcapacityadditionsfallshortofthetheoreticalforecastinthisscenario,especiallyforoffshorewind,duetolonglead-times.Thiscouldpotentiallyaddpressuretotherequiredcapacity

Source:RystadEnergyresearchandanalysis

additionsinthelongertermiftargetsaretobereached,whichwouldaddtotheneededsupplychaincapacitiesduringthesecondhalfofthe2020s.

AnotherimportantbackdropisthefocustoincreaseEuropeanindependence,notonlyinenergy,butalsofromasupplychainandmaterialsourcingperspective.Assuch,thefocusinthisreportisprimarilyonEuropeansupplyanditsramp-upneeds,andtoalesserextentontheneed,orability,tosolvebottlenecksthroughcontinued,orincreased,imports.

Consideringthechallengingtaskofbalancingrenewableenergytargetsandapredominantlydomesticsupplyofcomponents,servicesandmaterials,weintroduceatrilemmaframework,describingthebalancebetweenreliability,affordabilityandsustainability.Thisisreferencedthroughoutthisreport,whereapplicable.

Part1describesthecurrentstatusoftheEuropeanwindmarket,globalenergyandcommoditymarketsandthegeneralsupplychain.Recentpolicies,trademeasuresandtheirimpactsarediscussed,settingthesceneforquantifyingEurope’sabilitytoreachitsambitiouswindenergytargets.

Part2providesanoverviewofthefuturesupplyanddemandbalanceforthemaincomponentsandrawmaterialsinthewindenergysector.Wequantifysupply-demandbalancesbasedonthe2030TargetsScenarioforkeypartsoftheuniquewindsupplychain,includingturbines,towers,foundations,andwindturbineinstallationvessels(WTIVs).Inaddition,wediscussthestatusofotherpartsofthewidervaluechain,includingcables,transmissionandgridinfrastructure,labor,othervesselsegments,ports,andfloatingwind.

Lastly,weanalyzethematerialsusedinwindenergy,theexpectedEuropeandemandinthe2030TargetsScenario,andassessthestatusandsupplyofselected

RystadEnergy–TheStateoftheEuropeanWindEnergySupplyChain–April2023

criticalorstrategicallyimportantmaterials.

Part3includesWindEurope’spolicyrecommendations,basedonRystadEnergy’sfindingsinthisreport.

Approach

WeuseWindEurope’s2030TargetsScenarioasanexogenousfactor,servingastheoutsetofouranalysis.

Throughoutouranalysis,RystadEnergyleveragesitsbroadportfolioofdatabases,coveringonshoreandoffshorewindfarms,manufacturingfacilitiesforturbines,foundations,towersandcables,vesseldemandandsupplyfromoilandgasandoffshorewind,energymaterials,andmuchmore.

Demandforcomponentsandservicesismodelledbasedonanalysisofexistingprojectdata,leveragingRystadEnergy’sin-houseproject-by-projectdatabasesforonshoreandoffshorewindfarms;industryknowledge;andexpectedtechnologytrendsforonshoreandoffshorewind.

Supplyforcomponentsandservicesisbasedonourbottom-up,facility-by-facilityresearch.Weuseannouncedmanufacturingcapacitiesbyfacilitiesandmanufacturers,andfiguresreportedbysuppliersregardingcapacitiesbytechnology,geography,andmore.Supplyismeasuredbasedonbothcurrentcapacitiesandannouncedexpansions.

Supply-demandbalancesaredeterminedbasedonthemodeleddemandandidentifiedsupplyfromthetwoapproachesabove.

MaterialdemandisestimatedbasedonRystadEnergy’s

extensiveenergymaterialmodels,applyingmaterialintensitiespercomponentsandgigawattstoWindEurope’s2030TargetsScenariocapacityoutlookandtheresultingcomponentdemandmodeledbyRystadEnergy.

7

Reliable

Reliable

Reliable

Thesamethreeelementsare

asimportantfromasupply

chaindevelopmentand

materialperspective

Costfocusinrepricedmarkets2015

Energytransitionfocus

Introduction

Thetrilemmabetweenreliability,affordabilityandsustainability

Theenergytrilemmareferstofindingabalancebetweentheoften-conflictingchallenges:undergoingfundamentalchangewithanincreasedemphasisonrenewableenergy

ensuringenergyreliability,affordabilityandsustainability.sources,efficiencyandemissionreduction.TheCovid-19pandemicandRussia’sinvasion

Reliabilityreferstowhetheracountryorentityhasanuninterruptedavailabilityofe.g.,

energy.Shortterm,thiscouldmeananenergysystemthatcandeliverenergytosudden

changesindemandorpartofthesupply.Longterm,thismeansenergysecurityintermstheregiontobecomingindependentofRussiangas.

ofUkrainehaveservedasareminderoftheimportanceofreliablesourcesofenergy

supply.Thefocusonenergysecurityhaslednationstoformnewenergypartnershipsand

replacetraditionalsuppliers.InEuropethishasacceleratedtheenergytransitionleading

ofenergyresources.Affordabilitymeansaffordableenergythatisaccessibletoeveryone.

SustainabilityreferstoenergyproductionthatdoesnothaveanegativeeffectontheThisisadevelopmentthatisexpectedonthecomponentmanufacturingandmaterials

planetforfuturegenerations,bothintermsofemissionsandhumanencroachment.Thesideaswell,especiallyconnectedtotheenergytransition.Thedevelopmentsofthe

elementsintheenergytrilemmaareuniversalandwillberelevantforthedevelopmentofsupplychainandmaterialsisexpectedtohappenwithintheframeofthetrilemma.

Theaffordability,sustainabilityandreliabilityofacomponent,serviceormaterialdecides

othercommoditiesaswell.

Historically,thefocusbetweentheelementsofaffordability,sustainabilityandreliabilitytheirrespectiverelevance.Ifapartofthesupplychainisnotbalancedacrosstheelements

hasshifteddependingontheenergyclimate.Aftertheoilmarketdownturnin2014,theofthetrilemma,itislikelyitwillbereplacedasnewtechnologies,componentsand

focuswasoncuttingcostinthecorrectedenergymarket.Afterthis,thefocusonenergymaterialsareintroducedtothemarket.

transitionanddecarbonizationofenergygainedmomentum.Theenergyindustryisstill

Figure1:Illustrationofthetrilemmaframework

…andliketheenergysystem,itshouldbeaffordable,

sustainableandreliable…

affordability,sustainabilityandreliabilityinthegeneral

Theenergytrilemmaillustratesthebalancebetween

energysystem…

…soshouldthesupplyofcomponent