Advanced Energy Solutions: scaling up the tech that can help us get to net zero
Apr 25, 2024
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Guests from Breakthrough Energy and Amara Raja Energy discuss scaling up advanced energy solutions for a net zero future. Topics include new technologies, global cooperation, AI in clean tech, battery applications, India's energy transition, and innovative business models empowering energy solutions.
Reducing the green premium for clean energy is crucial for competitive markets, requiring faster price competitiveness in wind and solar technologies.
Public-private partnerships are essential for advancing energy innovation, highlighting the need for collaboration between sectors to drive sustainable energy transitions.
Deep dives
Importance of Reducing the Green Premium for Clean Energy
Reducing the green premium for clean energy is crucial to creating competitive markets for wind and solar technologies. The long process of achieving price competitiveness in wind and solar took almost four decades, highlighting the urgency of speeding up this transition. Initiatives like breakthrough energy ventures focus on catalyzing new technologies to lower costs and scale up clean energy solutions. Strategies such as feed-in tariffs, as seen in Germany with solar, can help drive the adoption of new clean technologies by guaranteeing prices and supporting technology stand-up.
Significance of Public-Private Partnerships in Energy Innovation
Public-private partnerships play a vital role in advancing energy innovation and transition. Collaboration between the public and private sectors is essential as neither can drive the energy transition alone. Governments need to provide clear signals and support to enable the private sector to invest in and deploy new clean technologies. The private sector, particularly startups, requires regulatory and policy frameworks that adapt to the evolving energy landscape to accelerate investment in advanced energy solutions. The alignment and collaboration between the public and private sectors are crucial for achieving sustainable, affordable, and secure energy futures.
Focus on Tailoring Global Technologies for Local Needs in Energy Transition
Adapting global clean energy technologies to meet the specific needs of local economies like India is essential for successful energy transitions. Solutions developed for economies in transition, like India, must address the country's unique developmental requirements. Transitioning to electric mobility in India, where oil imports are significant, presents an opportunity to develop domestic capabilities and create tailored solutions for light electric mobility. Customizing clean energy technologies to address specific societal needs and challenges ensures the relevance and effectiveness of these solutions in diverse global contexts.
Impacts of Innovative Business Models on Energy Transition
Innovative business models like those focused on providing free solar panels and affordable energy solutions can drive energy transition and consumer involvement. Offering solar panels for free and selling energy at discounted rates to consumers can overcome financial and technical barriers, fostering wider adoption of clean energy. Implementing virtual or digital grid systems that match production with consumption help optimize energy utilization and reinforce sustainable practices. Such models demonstrate the importance of aligning business strategies with regulatory environments to make clean energy more accessible and affordable.
What are the new technologies that can help us reach net zero? And how do we bring them to scale fast enough?
World Economic Forum Managing Director Jeremy Jurgens joins us to talk about the Advanced Energy Solutions community, and we hear from three of its members, from widely different sectors and geographies, implementing the energy solutions of tomorrow.
Guests:
Ann Mettler, Vice President, Europe, Breakthrough Energy
VK Samudrala, President, Amara Raja Energy & Mobility
Maarten Michielssens, Founder and CEO, EnergyVision
Special Meeting
This episode is related to the Forum’s Special Meeting on Global Cooperation, Growth and Energy for Development held in Riyadh on 28-29 April 2024.