Investment and innovation – driving forward with new infrastructure and digitalisation
While capital investment in clean energy technologies has remained stable in recent years at around USD 600bn per year, investment levels still remain short of what would be required to put the world on a more sustainable pathway. According to the International Energy Agency (IEA), spending on renewable power would need to double by the late 2020s.⁵⁷
Investment is key if we are going to see the required growth in renewable generation and must embrace both improved grid infrastructure and increased use of digitalisation. The two areas are inextricably linked and must grow hand-in-hand if we are to see smart grids become mainstream across the globe.