Accelerating Smart Grid Investments, a new World Economic Forum report sets out how smart grids can be the backbone infrastructure for tomorrow’s energy solutions and green economy.
The world’s electricity systems are increasingly outdated and coming under pressure in the face of rising demand, climate change and the arrival of transformative technologies. Smart grids have been hailed as a key to sustainably meeting emerging energy needs in a new age where clean energy is at a premium, networks require flexibility to incorporate renewable energy and customers’ demands for greater transparency and control over their consumption are growing.
The report explains how smart grid technology brings together the advancements in the information technology and telecommunications sectors – sensing, computing and communications – to deliver a more resilient, more efficient and lower-carbon electricity system. Smart grids can enable:
– New energy management services and tariff structures, enhancing the way utility companies manage their assets and offer consumer-relevant products and services
– Empowerment of consumers to take greater control of their energy consumption
– Integration of more renewable energy into the electricity system
– Electric vehicle infrastructure on a large scale
– Building energy efficiency into the system, from generation to end use
“Smart technologies are a necessary element of the transition to a fully fledged low-carbon economy, and this requires changes to the core infrastructure for the transmission and distribution of electricity,” said Espen Mehlum, Head of Electricity Industry at the World Economic Forum. Watch the interview: