A new study by Siemens and McKinsey has determined that London could cut its greenhouse gas emissions by some 20 million tonnes by 2025, a 44% reduction, with a significant contribution coming from CHP.
At the local level, ‘the use of various combined heat and power systems offers by far the greatest savings potential at 2.1 Mt CO2 a year by 2025,’ the study says.
With additional investments of less than 1% of the city’s total annual economic output required, the study finds that about two-thirds of the necessary investments would pay for themselves as a result of fuel cost savings.
The study ‘Sustainable Urban Infrastructure’ found that an additional 3.7 Mt CO2 could be eliminated by measures related to the national grid mix: For example, increasing the share of power generation with gas (instead of coal) would cut London’s emissions by 1.2 Mt CO2. The increased use of renewable energy sources above and beyond previously defined targets would reduce London’s CO2 balance by another 800,000 tonnes of CO2.
‘With the help of technologies available today, London could not only fulfil its international obligations, but come close to meeting its own ambitious climate goals without a massive shift in its citizens’ lifestyle,’ commented Siemens CEO Peter Löscher on the study findings.