Game Changers In The Energy System: Emerging Themes Reshaping The Energy Landscape

According to report released by the World Economic Forum (WEF) on January 12th titled: Game Changers in the Energy System: Emerging Themes Reshaping the Energy Landscape. The report states that in the next two decades, three game-changing themes have significant potential to impact the energy system and they are advanced energy acceleration, mobility revolution and energy system fragmentation. Starting with energy acceleration -- the report states that hydraulic fracturing and directional drilling have unlocked shale, and advances in wind, solar, storage and smart grid technologies are changing the power industry. But this may only be the beginning: economic development requirements globally have increased demand for energy; increasing societal commitment to the environment has intensified demand for low-carbon energy; and technologies to meet that demand are becoming increasingly economical. The report continues and states that new technologies contributing to improvements in energy efficiency are decoupling energy consumption from economic growth. As for mobility revolution the report states that new technologies, new business models, changing consumer preferences and the emergence of cities as the critical hubs of economic activity in the 21st century may come together to change how consumers move around and interact with one another. If adopted at scale and in concert, these forces may create a mobility revolution -- transforming how people move, who owns assets, how assets are used, and where money is made. With energy system fragmentation the report states that the energy system is poised to shift from an era of concentrated power and ownership to one of decentralization, fragmentation and intensified competition. In the future the driving force behind energy market outcomes could be an unpredictable interplay of a far greater variety of smaller and more agile participants, including residential and industrial energy "prosumers" and financial players, competing across increasingly localized arenas. To get more information on game changers in the energy system: emerging themes reshaping the energy landscape click on the picture below to read the entire report by World Economic Forum.