The Innovation Intensity needed in the Energy Transition

The level of innovation intensity within the Energy Transition is a fascinating one and one I continually place more and more a focus upon.

One really critical source of reference for tracking clean energy progress comes from the International Energy Agency (IEA). The recent reporting back on the development of the energy transition we are undertaking seems depressing reading. We need to accelerate innovation and technology adoption.

We are so off track for much of the Energy Transition. if we are going to get anywhere near the Paris Agreement, and the below 2-degree climate goal set by 2050, we need to focus even more on transforming our energy systems globally.

The IEA’s Sustainable Development Scenario (SDS) offers a pathway for the global energy system to reach three strategic goals: the Paris Agreement’s well below 2°C climate goal, universal energy access, and substantially reducing air pollution. The IEA assesses the status of 46 critical energy technologies and sectors and offers some general advice on how to get “on track” with this SDS approach.

Presently there is a rising concern the Covid-19 has knocked us off a path.

In the short term, the dramatic economic downturn has given rise to seeing air pollution levels drop during the “lockdown” months, but as was seen after the 2008 /9 financial crisis when the economy came “roaring back,” so did the carbon emissions.

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Solutions for Energy do need to be end-to-end and highly innovative

It is not just replacing energy sources; it is all about solution renewal end-to-end and that needs innovation
Within the energy transition, we must not lose sight of the final consumer. The final consumer of energy is going to be the ultimate arbitrator.

As we focus on the broader aspects of “energy transition” by re-engineering much of the existing infrastructure to create smart grids, provide storage, solar for individual homes, and the ability to introduce e-mobility across the transport sector we must keep the consumer always in mind. Is the alternative, those new solution more attractive?

As we seek to make a change in any energy supply or solution, we need to continually ask those basic questions innovators should always do. Has what we are offering greater utility and flexibility? Is the alternative more connected, more informative, and helpful? Does it provide better value than the existing solution? Simply, what is in it for me?

These are the connecting points to the end-user. They “feel” the value of the energy transition in benefit; in energy security, increased choices, and greater involvement in handling their own energy costs and local energy design choices, they see the “effect of change.”

The nature of the energy landscape will require the transformation of businesses, the push to find and develop new market dynamics and embrace government policy and regulations in an orderly and planned way. Still, above all, it needs to offer value, appeals, and that “compelling” reason to make a change.

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