The National Energy & Fuels Institute, with management consulting firm Kearney, announced a plan for the heating oil industry to eliminate fossil energy use by 2050.
The plan outlines how the trade association aims to carry out a pledge made last year when more than 300 heating oil industry professionals committed to achieve 15% carbon reductions by 2023, 40% reductions by 2030 and net-zero by 2050.
“To reach these ambitious goals, the industry now plans to deliver a blend of 20% biofuel by 2023, 50% by 2030, and 100% renewable fuel by 2050, thereby completely eliminating fossil energy from its primary product,” NEFI said. “This will in effect transform the very nature of heating oil, making it a renewable fuel.”
NEFI, based in Southborough, Massachusetts, is a trade association that serves liquid heating fuel providers.
NEFI officials and Kearney consultants introduced the plan during “Industry Summit II: Implementing the Road to Net-Zero,” part of the Institute’s virtual Heating & Energizing America Trade Show, Sept. 22-23.
“Months of research conducted by Kearney demonstrates that heating oil-biofuel blending provides the most cost-effective and immediate path for NEFI members and their customers to reduce fossil energy use and carbon emissions,” Neal Walters, a partner at Kearney said in announcing the plan. “Our findings show that this strategy is both affordable and easier to implement than electrification for home heating in the Northeast.”
“Last year, industry leaders announced a goal that many thought unachievable,” said NEFI President and CEO Sean Cota, adding, “Not only is our goal achievable, but it is also well within reach. Renewable liquid heating fuel can reduce fossil energy use and carbon emissions faster and more cost-effectively than electric heat pumps or natural gas.
“Who would have thought your town’s little family heating oil business would play such a big role in helping to solve the planet’s climate crisis,” Cota said.
NEFI said it intended to continue engaging business leaders, policymakers and climate activists regarding its plan to eliminate fossil fuel and carbon emissions from the home energy sector. For more information, visit nefi.com or kearney.com.