1、What Todays Climate Tech Can Learn from Yesterdays Energy TransitionsSeptember 2024 By Thomas Baker,Karan Mistry,Vinoj Pillai,Bahar Carroll,and David Cotton1 WHAT TODAYS CLIMATE TECH CAN LEARN FROM YESTERDAYS ENERGY TRANSITIONS What Todays Climate Tech Can Learn from Yesterdays Energy Transitions Th

2、e worldwide effort to advance and commercialize emerging climate technologies faces new headwinds.The immense enthusiasm that once surrounded these technologies has diminished,and green premiums remain stubbornly high.(See Exhibit 1.)Sustainable aviation fuel(SAF),for example,remains two to three ti

3、mes as expensive as conventional jet fuel.1 Skep-ticism about clean hydrogen has increased as high interest rates,higher-than-anticipated equipment costs,policy uncertainty,and challenges related to storage and trans-port have persisted.Recent carbon capture and storage(CCS)and small modular reactor

4、(SMR)projects have been delayed or canceled.If they mature quickly,emerging technologies can provide critical support for net zero goals.But technical,offtake,market,and policy barriers are rising in the meantime.The energy industry has overcome similar challenges in the past.A historical examinatio

5、n of todays mature tech-nologiesincluding combined cycle gas turbines(CCGT),solar,wind,and liquefied natural gas(LNG)reveals a roadmap for how to accelerate the at-scale deployment of todays emerging technologies.Industry,entrepreneurs,financial intermediaries,policymakers,and other stakeholders can

6、 collaboratively apply the lessons from the development journeys of legacy technologies:Overcoming Technical Barriers.Industry-led efforts to standardize and modularize specifications can turbo-charge technical development,as demonstrated by wind.Securing Offtake.Niche offtakers in industries where