It is increasingly clear that solar will be a dominant part of the energy system in the future. However, the decentralized power market is still in its childhood. We are most likely underestimating how profound the change to power infrastructure will be even in the next 5 years. Solar and storage technologies are maintaining their steady decline in system-level cost and their increase in deployment flexibility. And the fundamental needs of our customers, to have a resilient, sustainable energy supply while saving money, seem unlikely to diminish.
During the past year, Alight started expanding into Europe, signing our first customer framework agreement outside of Sweden and creating an EU-based business plan. Our vision is to become a European leader in deployment of solar and storage assets, and we have been experiencing a dramatic shift into a next phase of this journey. The product we have developed suddenly met a market with high demand for it. Long-term leadership will mean being expert in, and able to deliver to our customers, systems combining solar, storage and the intelligent software to integrate this into a micro grid. The short-term objective of such solutions is to maximize the financial savings of our customers. Long-term, these solutions will give us more of a utility-like relationship with customers, as we turn into their primary source of baseload power.
As a renewable energy company, we are deeply concerned about CO2 emissions. CO2 emissions create a pivotal challenge for our generation. The main cause of CO2 emissions is the combustion of fossil fuels – coal, oil, and gas. At least 50% of such combustion can be replaced by solar, as a convergence of technologies turns solar into baseload power, and as the electrification of transportation, industry and heating increases the scope of solar power. The rapid progress of these overlapping trends will combine to make hard restrictions on fossil fuels a simple decision for society.
To know that we play a role in that shift is a source of pride for our team, as well as for our customers and our investors. It provides us with a simple yardstick of what our success means and why it is worth fighting for. And it reminds us of the strong urgency of our work – an urgency that is unlikely to go away for the remainder of our careers.
Harald Överholm, CEO Alight AB