Let the Music Play! An innovation culture might be necessary for the power sector to thrive
- May 14, 2022 2:51 am GMT
This item is part of the Innovation In the Electric Power Industry - May 2022 SPECIAL ISSUE, click here for more
Innovation rhymes with transformation, collaboration, and more!
We are in critical times for the power industry. And not only on the climate front, but also concerning the DER, cyberspace, the (geo)political crises, the supply chains struggle, the pandemic, and more. Notably, the required Worldwide efforts to address climate change are leading to the rapid electrification of numerous end-users from transport to industry, driving a massive increase in power demand as well as the need to generate as much of it as possible from renewable sources. The result is a dramatic transformation of power systems globally.
According to the International Energy Agency, Electricity is the fastest-growing source of final energy demand, and over the next 25 years, its growth is set to outpace energy consumption as a whole. The rapid rollout of renewable sources such as wind and solar PV puts electricity at the forefront of clean-energy transitions, providing access to the nearly 800 million currently deprived and helping to cut air pollution and meet climate goals.
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