Electricity markets were created in the last century for a world powered by fossil energies and they do not work very well for a power system based largely on intermittent RES. Today, electricity networks worldwide are experiencing dramatic increases in demand as well as in terms of RE capacity increments. They need to urgently adapt simultaneously to several new megatrends and challenges, including the increasing electrification of economies and the digitalisation of societies as well as quickly diversifying methods of carbon-neutral power generation and storage.
Part of reaching the goal of carbon neutrality lies in digitising power markets through many of the same methods that have allowed us to digitise and integrate modern financial markets. This deeply impacts the energy sector, connecting everybody to everything, and creating many new market opportunities. A main goal must therefore be to avoid misalignments and systemic frictions between the integration of renewables and existing market coordination modules, including the wholesale market, the retail market, and network regulation. Coherence across policy areas is essential and the point is that unless there is a favourable market design that is flexible, inclusive and dynamic, it will be difficult to develop digitised green power business models and rapidly deploy services. This represents a bit of a chicken and egg problem.
This session will provide an overview of the opportunities associated with the digitalisation of increasingly diversified and carbon-neutral electricity markets and the main challenges to realising these opportunities. Smart market designs help to seize those opportunities, f.i. with prosumer models. But there are also risks, such as new monopolies. How can these new paradigms be combined to accelerate the energy transition?
The industrial sector is both a global economic powerhouse and a major contributor to greenhouse gas (GHG) emissions, accounting for roughly one-third of global GHG emissions. In order to further accelerate the decarbonization process, one major task remains greening the industry, especially the “hard-to-abate” sectors. Key areas of transformation are energy intensive industries such as steel, cement and basic chemicals. Challenges include the transition from conventional to advanced carbon-negative manufacturing processes and other breakthrough technologies, the provision of large amounts of renewable electricity and carbon-neutral hydrogen as well as the establishment of the necessary infrastructure, e.g. for green hydrogen and sequestered carbon dioxide. Another area is the interplay with the energy grid, where the industry sector has huge potential for flexibility through Demand-Side-Management (DSM). This session will explore potential measures aimed at “greening” industrial processes by means of energy efficiency gains, regulatory mechanisms and, where possible, direct use of renewables through greater market competitiveness and availability.
The International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) are uniquely positioned to steer the global energiewende. They meet virtually on the “green sofa” to discuss the current state of the energy transition and will present their latest numbers on RES on a worldwide scale.
The IEA has put accelerating clean energy transitions at the heart of its work, leveraging its full capabilities to support the realisation of a secure, affordable and people-centred transition.
IRENA, equipped with a global mandate to enable energy transitions, drives the strategic shift towards sustainable energy by providing cutting-edge knowledge, advice and support on technologies, investments, policies and markets.
Arguably no other crisis facing us today is as all-encompassing as the changing climate. Every country, every age group, every level of society is threatened by the manifold adverse effects of climate change. Only by marshalling a truly global and collective effort to contain these developments can we guarantee a prosperous and secure future. This task concerns everyone, everywhere. That is why the Berlin Energy Transition Dialogue invites policymakers, industry representatives, young generational leaders, and civil society to exchange ideas and views on these issues. This year, the conference will be opened by the Federal Minister for Foreign Affairs, Heiko Maas and the Federal Minister of Economic Affairs and Energy, Peter Altmaier. The opening keynote speech will be held by the European Commission President Ursula von der Leyen and young climate activists from all over the globe: Vanessa Nakate, Climate Activist, Fridays for Future Uganda & Brianna Fruean, Climate Activist & Pacific Climate Warrior, Samoa/New Zealand.
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