The future is electric. Over the coming decade, decarbonised electricity will play a bigger and bigger role in delivering the energy transition and combating global warming. Wind turbines and solar farms are replacing thermal power stations - and new ways of using electricity are accelerating the journey to net zero.
Important milestones are already being achieved. Wind and solar together generated more electricity than gas in Europe for the first time in 2021. In a year of below-average wind speeds, the growth of solar power was vital. Indeed, solar generated 27% more electricity in 2021 than in 2019. Many European countries have laid the foundations for rapid solar growth, not just in southern Europe where the solar potential is highest.
At the level of consumption – the transformation is also well underway. Electric Vehicles (EVs) are starting to replace conventional combustion powered vehicles. Meanwhile, electrically-powered heat pumps are taking the place of conventional gas heating. And industrial processes of all types are making the switch from fossil fuels to electricity – now that they can generate their own electricity.
1. New energy sources
offshore wind, solar trackers and floating solar, and nuclear facilities.
2. Superconductivity
high-capacity transmission with minimal losses and minimal land take.
3. Electric mobility
Wider and easier access to charging infrastructure.
4. Hydrogen
green hydrogen to decarbonise heavy industry and transport will be a key driver of electricity demand.
5. Big data and AI
deeper insights and enhanced decision making.
New ways of generating and using electricity are attracting a lot of attention. The need to revitalise grids is becoming urgent: in the US, for example, an estimated US$1.1 trillion will be required by 2040 to expand and upgrade the electricity grid to maintain reliability and resilience.3
