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“emerging Technologies Shaping Gas And Electricity Generation In 2023” – Digital technologies can greatly improve the performance of power grids to help successfully integrate clean energy sources, but lack of investment in these networks can slow energy transitions and increase costs, particularly in emerging and developing economies.
According to a new report by the International Energy Agency, digital technologies could save USD1.8 trillion in grid investment globally by 2050 by extending the life of the grid, while also helping to integrate renewable energy and reduce supply disruptions. However, failure to properly upgrade and digitize network infrastructure could reduce economic output in emerging and developing countries by almost USD 1.3 trillion due to reduced productivity, lost sales and increased wasteful costs on backup generation, and could jeopardize the net zero target.
“emerging Technologies Shaping Gas And Electricity Generation In 2023”
This is the first major report of the Digital Demand-Driven Electricity Network Initiative (3DEN). It will be presented at a special event on 6 June 2023 at 14:00 CET, Powering the Future: Leveraging Digitalization for Efficiency, Flexibility and Decarbonisation, and streamed live on the website. The session is part of the 8th Annual World Conference on Energy Efficiency, which runs from June 6-8 in Versailles, co-hosted by Executive Director Fatih Birol and French Minister of Energy Transition Agnès Pannier-Runacher.
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Electricity is the fastest growing source of final energy demand and total energy consumption will continue to increase over the next 25 years. Electricity demand in emerging and developing economies (excluding China) is projected to increase by around 2 500 TWh by 2030, approximately five times the current demand in Germany.
Expanded electrification and increased reliance on variable solar and wind power, as well as more sophisticated approaches to matching demand and generation, for electricity storage, especially during peaks. Many electricity grids are unable to cope with such challenges due to long-term underinvestment. Power supply disruptions can also affect critical infrastructure, water and food supplies, medical aid, telecommunications and mobility, with serious implications for human health and well-being. Moreover, inefficiencies caused by technical losses in the grid emit about 1 gigatonne of CO2 per year, equivalent to twice the emissions of all the cars in Europe.
Digitalization is an important tool to overcome some of the obstacles facing power networks, operators and utilities today. Digital solutions enable utilities to better predict supply and demand imbalances and troubleshoot more quickly. But current global investment in the grid is far below what is needed to achieve net zero emissions by mid-century. Annual investment needs to double to about USD 750 billion by 2030, from about USD 320 billion today.
“Power grids are among the unsung heroes of the energy transition, but they require massive investment,” said Dr Birol. “Although solar panels and electric vehicles get a lot of attention, it is the grid that connects everything. By digitizing our grids, our power systems become more reliable and secure, and our utilities can better manage the balance between power supply and demand. The longer we wait to upgrade and digitize our grids, the more expensive it will become.”
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3DEN is a cross-agency initiative to accelerate the progress of power system modernization, supported by the Italian Ministry of Environment and Energy Security.
“Digitalization offers enormous opportunities to enable more sustainable, reliable, efficient and affordable energy systems and contribute to the achievement of climate goals. Targeted actions and strategic investments are needed now. The scale of this transformation is huge, and there is strong international cooperation and knowledge. Italian Minister of Environment and Energy Security Gilberto Pichetto Fratin, sharing is important. “We are pleased to collaborate with the International Energy Agency and UNEP in the 3DEN project to accelerate clean energy transitions globally, especially in emerging economies and developing countries.”
In conjunction with the 3DEN project, the Italian Ministry of Environment and Energy Security has launched a pilot smart grid pilot program managed by the United Nations Environment Program (UNEP). Projects are currently being implemented in Brazil, Colombia, India and Morocco. Successes and lessons learned from these projects are being used for analysis and policy guidance.
Today’s release is the first in a series of 2023 reports on the grid and digitalization that will build a growing portfolio of insights and policy guidance. Further analysis will examine the changes in the electricity landscape required for net zero goals and the policy actions needed to address these changes while maintaining security, affordability, and sustainability.
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The 3DEN initiative report details the high costs of investment delays and lays out targeted actions to boost grid digitalisation.
The report provides guidance to energy policy makers on possible ways to enable and drive investment in smart and resilient electricity grids, with suggestions on how to create an environment that supports the effective use of innovative digital technologies in the electricity sector.
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Thanks for subscribing. You can unsubscribe at any time by clicking the link at the bottom of any newsletter. The Covid-19 pandemic and Russia’s invasion of Ukraine have caused major disruptions in global energy and technology supply chains. Rising energy and materials costs and shortages of critical minerals, semiconductors and other components are creating potential barriers to the energy transition. Against this backdrop,
) provides an analysis of the risks and opportunities surrounding the development and scaling of clean energy and technology supply chains in the coming years, viewed from the perspectives of energy security, resilience and sustainability.
Building on the latest energy, commodity and technology data – as well as recent energy, climate and industrial policy announcements
Breakthrough Technologies 2023
Explores critical questions about clean energy and technology supply chains. What are the main obstacles to efforts to grow those supply chains sustainably and at the necessary pace? How can governments shape their industrial policies in response to new energy security concerns for a clean energy transition? Which clean technology sectors are most at risk of failing to develop secure and resilient supply chains? And what can governments do to mitigate such risks while meeting broader development goals?
The series is the flagship technology publication of , a leading source of insight on all matters related to energy technology since 2006.
It will be an indispensable guidebook for government and industry decision-makers seeking to take advantage of the opportunities offered by the emerging new energy economy, while managing uncertainty and safeguarding energy security.
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Are you curious about what energy industry trends and startups will soon impact your business? Explore our in-depth industry research on 2835 energy startups and scaleups and get data-driven insights into technology-based solutions in our Energy Innovation Map!
Taking a closer look at the energy sector today, we see various signs that suggest rapid transformation for the future of the industry. Governments around the world legislate to incorporate sustainable energy sources and technologies to enable efficient use of energy systems. Broadly, energy industry trends can be categorized into three recurring concepts:
For this in-depth research on top energy industry trends and startups, we analyzed a sample of 2835 global startups and scaleups. The result of this research is data-driven innovation intelligence that improves strategic decision-making by giving you an overview of emerging technologies and startups in the energy industry. These insights are gained by working with our Big Data and Artificial Intelligence-enabled StartUs Insights Discovery Platform, which includes 2 500 000+ startups and scaleups globally. The platform quickly provides a comprehensive overview of emerging technologies in a specific field as well as quickly identifies relevant startups and scaleups.
In the innovation map below, you’ll find an overview of the top 10 energy industry trends and innovations that impact energy companies around the world. Furthermore, the Energy Innovation Map reveals 20 hand-picked startups, all working on emerging technologies that advance their fields. To explore custom insights, just contact us.
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The tree map below describes the top 10 energy industry trends that will impact companies in 2023. Development of renewable energy infrastructure drives innovation in power generation, storage and efficiency, and many emerging companies develop low-cost renewable energy technologies. This, along with Artificial Intelligence (AI), the Internet of Energy and Blockchain, accounts for about three-quarters of the trends in the energy industry. Advances in electric vehicles (EVs) and charging solutions focus on enabling the transition to zero-emission transportation by solving infrastructure challenges.
The global startup heat map below highlights the global distribution of the 2835 exemplary startups and scaleups we analyzed for this research. Created by the StartUs Insights Discovery Platform, the Heat Map reveals that the United States is home to the most people
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