Advancing Marine Solution Readiness
A wide variety of zero carbon energy sources can potentially be used by the maritime industry. Much research and detailed studies have already been undertaken and several solutions have the potential for success, though are unproven as yet at scale.
The zero-carbon energy sources and technologies currently under development cannot yet match the low cost and global availability and infrastructure that fossil fuels currently provide. Zero-carbon energy sources and technologies will need scaling up to industrial levels to achieve safe, reliable production at sufficient volumes in suitable locations that can be adopted within the maritime sector at a competitive price.
Successful solutions will need to meet a wide range of requirements ranging from the broadest societal goals through to detailed technical and safety specifications. Decision-makers need a reliable and consistent approach to evaluating each solution. Risk needs to be removed from each decarbonisation pathway as much as possible, to increase confidence among stakeholders and encourage investment and product development.
The Lloyd’s Register ‘Marine Solution Readiness Level’ framework
To enable organisations to make informed choices about decarbonisation pathways, Lloyd’s Register has created the Marine Solution Readiness Level framework, or MSRL. This is a standardised screening assessment that ensures consistency of evaluation across widely different solutions at different points in time. MSRL enables decision-makers to assess alternative zero carbon energy sources, now and at chosen milestones in the future. MSRL provides the evidence needed to set and maintain the right course.
The MSRL framework comprises 3 pillars:
Investment Readiness Level (IRL)
How ready is this solution for investment? Assessment scope includes:
- Economics of the energy system
- Production dependability and scalability
- Total cost of operation
- Market demand vs forecast pricing
- Competitiveness vs alternatives
Technology Readiness Level (TRL)
How well developed is the technology? Assessment scope includes:
- Production capabilities
- Distribution and storage infrastructure
- Deployment on-board ships
- Safety, reliability and scalability
Community Readiness Level (CRL)
How prepared are people and organisations to adopt the new solution? Assessment scope includes:
- Policy measures
- Societal impacts and attitudes
- Sustainability benefits
- Any hurdles to be overcome