Energised for innovation
As the world becomes moreenergy-constrained, the energy sector need to prioritise efficiency over innovation.
02 October 2023
Innovation is the process of transforming ideas into new goods or services or leveraging new ideas to improve existing offerings and deliver greater value. In the case of the energy sector, innovation doesn’t entail reinventing the wheel; it’s about making sure that the wheel turns as efficiently as possible.
“Globally, the world is becoming significantly more energy-constrained and this is going to be the case for a long time to come,” says Stefano Marani, CEO of Renergen. In the next 50 years, as more and more of the developing world gets electrified, consumption of electricity is only going to rise and we will need to come up with ways to significantly increase our generation capacity, he says. Delivering the increased capacity society needs while also moving away from carbon-intensive fossil fuels like coal – which is currently responsible for just over a third of global electricity generation – is a very big ask. So much so that when you look closely at the numbers, the world’s just transition goals are a pipedream.
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