Abstract
Many of the energy transition-related technologies – PV, wind, storage, EVs, electrification – are seeing rapidly declining prices and are rapidly growing – but they need the grid to connect to equally fast-growing loads. The grid, which essentially functions like a bridge, needs to connect 1000’s of gigawatts of next-generation clean energy sources waiting to come online, with clean energy users wanting it because it makes economic sense. But the bridge to connect the two is not set up to manage the new traffic. Given the regulated structure of utilities, low competence in new technologies, low R&D expenditure, and slow processes for bringing new technologies onto its system, it is not clear that the electricity sector is positioned to act in a timely manner to meet the emerging requirements. On the other hand, for the first time, the lower cost technologies with steep and sustained learning curves that are driving the energy transition have the potential to achieve our economic goals while meeting our decarbonization goals. In other words, we can successfully address the highly divisive issue of climate change versus economic growth, not by being in conflict with each other, but by aligning the two goals of economics and climate! This is historic because at no other time has it been possible to solve the challenge of economic prosperity while ensuring that our planet’s living ecosystem can be sustained. This is a once in a lifetime opportunity that we must seize, but it will be challenging.
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Nussey, B. (2021). Freeing energy: How innovators are using local-scale solar and batteries to disrupt the global energy industry from the outside in. Mountain Ambler Publishing.
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Divan, D., Sharma, S. (2024). Understanding Ongoing Disruptions in Energy. In: ENERGY 2040. Springer, Cham. https://doi.org/10.1007/978-3-031-49417-8_4
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