
Over the coming decades
The world will consume much more energy than it does today. After all, wherever access to reliable and affordable energy escalates, people will enjoy higher standards of living. That’s good in a way! But at the same time, there is a huge population in the world that does not even have access to the most basic energy services. Not only that, but climate change remains a serious issue.

ENERGY INNOVATION: A CRITICAL NEED
Energy is primary and used everywhere – schools and commercial areas are still running, city lights are still on, vehicles are constantly moving and so on! As the world faces an urgent need to transform its energy system, the pressure to develop and deploy low- or zero-carbon technologies has increased dramatically. Developed countries such as the United States and Europe are already willing to change their patterns of consumption and business to incorporate energy—more specifically, clean energy—but developing countries will not be able to afford to pay the required premium for this approach. The reason is simple – today’s clean energy technologies such as wind, solar, electric vehicles, smart grids and energy storage are more expensive. So there has to be some way to make these renewable energy sources available to the world in a way that meets their growing needs but without burning a hole in their pockets. To this end, various trends are coming up that can enable countries to adopt sustainable energy solutions that even turn out to be energy-saving. Let’s explore them!