GE RENEWABLE ENERGY

Energy Transition
GE Renewable Energy

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© 2019, General Electric Company. Proprietary information. All rights reserved.
Powering Forward
Gas Power

Addressing climate change is an urgent global

priority. GE is committed to working with our Power
Conversion
Renewables

customers to tackle the world’s biggest

challenges and believes that climate change is GE Operates
one of the most pressing issues we face today.
Across the
With one-third of the world’s electricity Energy
generated by our products, GE is focused on Aviation
Ecosystem Grid

playing an essential role in helping our

customers achieve the global energy transition
and building solutions for a world that works.
Steam Nuclear

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Energy transition .. Getting down to net-zero, while solving the
energy trilemma
The energy trilemma Decarbonizing every aspect of modern life

Energy Emissions by sector, 2020 a) Energy Supply, by source a)

In Gt CO2 in EJ 527- 760
554

Carbon-free
Renewables
electricity
Bioenergy
Other
Nuclear 81%
Buildings 6% Fossil fuels “Hard-to-
10% electrify”
Power 2020 2050
40%
30 … driving Hydrogen demand b)
Transport 23%
in Mt 2050 Forecaster range :
1.000
Min. 350Mt/Max. 1300Mt
20% 800
Power
600
1. Societal, geopolitical and historical choices driving Industry Transport
400
different solutions at regional and country level
Industry
Buildings
200
0
2. Policies & market instruments need to evolve
2020 2050

Electrify everything possible … Provide carbon-free solutions for the ‘hard-to-electrify’ sectors
a) Source: BNEF NEO’ 21

b) Source: BNEF NEO’20 Climate Scenario (Nov’20)- Other forecasts range from 2 March 2022 Confidential. Not to be copied, distributed, or reproduced without prior approval. 3
350Mt (IHS “Green”) to 1300Mt (BNEF NEO’21 “Green H2”) – IEA “NZE” at 500Mt
EJ=10^18 J
Energy transition … Path to net zero boosting wind, solar, H2 & Grid
demand
Cumulative installed capacity a) Global annual grid investment b)

In TW In $bn
IEA NZE report: 43 1.341
+1,2TW Hydro

Renewables X2

11 372
8 235
+29%

2020 2030 2050 2020 2030 2050

(Climate scenario) (Climate scenario)
Hydro Battery Storage Fossil fuels (Coal, Gas, Oil)
Wind Other RE H2
Solar PV Nuclear Baseline trajectory Distribution Transmission

Renewable power capacity X2 by 2030 … Cumulative grid investments to 2030 at $3.3T

a) Source: Internal GE GPO’21 for 2020 to 2030 forecast; 2050 from BNEF NEO’20 – ETS & Climate scenario b) Source: BNEF NEO’20 – ETS & Climate scenario, Nov.’2020; As per BNEF NEO’21, Cumulative grid investments 2020-2050 in a
range of $22-24T.
2 March 2022 Confidential. Not to be copied, distributed, or reproduced without prior approval. 4
The energy transition drives change across power ecosystem

FUEL GENERATOR GRID DEMAND

FROM • Large, central generation

• Easy to store & control • Synchronous machines as grid • Relatively predictable
• Dispatchable on demand interface • One-way dispatchable flow • Passive
• Provides synchronous inertia of electricity
• Can start grid from zero

• Variable generation • Power electronics as grid interface • Many Distributed Energy

TO • Dispatchability through • Limited inertia & grid start Resources (DERs) • Mobile and less predictable
• Prosumers (co-located
hybridization • Fast versatile controls, highly • Two-way variable flow of
generation & load)
programmable electricity

The grid was designed for a different way of producing and consuming power
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DO NOT COPY/DO NOT USE/DO NOT MODIFY without written consent from GE Renewable Energy.
 Supplying and
Reducing the
maintaining a
cost of
global fleet of
renewable energy
renewable energy
assets

Accelerate the
Energy Transition by …

Making renewable Ensuring grid

energy function resiliency,
more like "baseload" efficiency, and
power reliability

© 2021 General Electric Company. Proprietary. All Rights Reserved.

Our Approach
Accelerated and strategic
deployment of renewables and gas
power along with modernizing the
grid can help change the global
trajectory of climate change,
enabling substantive reductions in
emissions quickly while continuing to
accelerate technologies for low or
near zero-carbon power generation.
Lowering Emissions Today
•Support aggressive carbon reductions with a
technology-neutral approach
•Prioritize grid modernization
•Promote onshore and offshore wind deployment
•Minimize trade barriers and support sustainable
finance to increase global access to green tech
Incentivizing Breakthrough Technologies
•Support R&D funding for CCUS and hydrogen
for hard-to-abate emissions
•Invest in renewable and zero-carbon
technologies
•Develop cutting-edge nuclear solutions
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Dispatchability is needed to support a secure, reliable and affordable
system with a higher share of renewable energy
Net electricity generation in Europe in week 37 2021 (MW) Daily energy Supply in CAISO September 1st, 2021 (MW)
Load
Load
Pumped Hydro charges
during times of low load & Batteries discharge
Pumped Hydro discharge excess renewables Batteries charge at times during peak-hours
during peak-hours of excess renewables Solar
Solar
Wind
Hydro
Wind
Other Renewables

Source: Fraunhofer Institute for solar Energy Systems

Source: CAISO
Hydropower generation (GWh) in CAISO 2017 How do we become more of a solution provider getting value for
dispatchability?

• Dispatchable generation is controllable, flexible and available on-demand

• Hydro is the only fully dispatchable form of renewable energy. Wind &
Solar become dispatchable when combined with storage

• Grid forming, hybrid controls and advances in market design and

regulation enable dispatchable renewables
Source: DOE 2017 Hydropower market report, p.65

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DO NOT COPY/DO NOT USE/DO NOT MODIFY without written consent from GE Renewable Energy.