Jumping the spark: how can innovation in the power system accelerate clean energy transitions in emerging economies? - Morning Session
Clean energy transitions require a massive and urgent push towards renewable energy supply and demand side participation. The effective use of distributed energy resources, such as demand response, electric vehicles and charging infrastructure, building-level energy storage and distributed solar photovoltaics, will be increasingly important. Smart grids and digitally enabled demand side flexibility can ensure more dynamic, efficient, reliable and sustainable electricity systems and reduce the need for grid investments.
In IEA’s Net-Zero by 2050 Scenario (NZE), nearly USD 4 trillion of annual investment in clean energy is needed by 2030, 70% of which in Emerging Market and Developing Economies (EMDEs), driven by network expansion to connect millions of new customers to the grid, growth in demand and to support the electrification of end‐uses. EMDEs have the opportunity to develop and digitalise their grid at the same time, while leveraging lessons learned from earlier digital technology implementation and strategies in other countries. Innovation and new business models will play an important role in ensuring that the transition is achievable, affordable and inclusive.
The IEA’s Digital Demand-Driven Electricity Networks (3DEN) Initiative and Energy Systems Catapult are co-organising an expert webinar to explore opportunities for EMDEs to foster radical technological, market and policy innovation that could support the achievement of their objectives in terms of clean, affordable and reliable energy.
The IEA will present key insights for effective policy to support clean energy start-ups, drawing on a series of case studies and in-depth interviews, while Energy Systems Catapult will share insights on opportunities to digitalise energy systems, stimulate policy action, enabling regulatory frameworks, new business models and investments at scale, as well as innovation and technology deployment.
This will be followed by a panel discussion exploring visions for future power systems, lessons learned, challenges encountered and overcome, insights on how to enable and stimulate innovation and opportunities for novel pathways towards decarbonised and resilient power systems.
The IEA gratefully acknowledges the Italian Ministry for Ecological Transition for their support for this webinar as part of their contributions to IEA’s Digital Demand Driven Electricity Networks (3DEN) Initiative on power system modernisation and effective utilisation of demand side resources through digitalisation and to the Clean Energy Transitions Programme.