Thought leadership by the World Economic Forum’s Electricity Industry Strategy Officers in collaboration with Accenture and Aurora Energy Research
Briefing Paper February 2022
The future of energy will be based on an integrated energy system, highly electric and designed to achieve net zero. The system will interconnect networks of electricity and gas (including hydrogen, syngas and biogas), heating and cooling, and also all types of data (wired and wireless communication). Energy, data and financial markets will be designed around this net-zero integrated energy system. The system will be underpinned by increasing digitalization and multistakeholder collaboration. Clean electrification will be a key characteristic of this future system.
The purpose of this high-level paper is to highlight the urgency required by policy-makers and industry as the European Union pursues clean electrification.
What is needed to enable clean electrification?
1) No grids, no party
Substantial and timely expansion and reinforcement of power grids at all voltage levels will be required. What actions are needed to support this?
2) The renewables revolution
Access to sufficient renewable power (RES) for the European industry will be important. What priorities are needed to meet existing RES targets for 2030 to 2050?
3) The demand evolution
Enabling broader and deeper industrial participation in green power markets will be key. What are the priorities to be considered by policy makers?