According to an article published by the World Economic Forum (WEF), the digitization of the electricity grid could achieve a zero carbon footprint. In addition, distributed open collaboration, known as crowdsourcing, can support this digitization and drive a transition to clean energy, it added.
The UK Climate Change Conference 2021 (COP26), which will take place from October 31 to November 12, will have zero carbon footprint as its central focus. Among the goals of the conference is to provide solutions to the issue of decarbonization, where China stands out for its decision to eliminate the use of coal, mitigate deforestation, invest in renewable resources, and switch to clean energy. In order to keep the global temperature increase to a maximum of 1.5 degrees Celsius, it is necessary to achieve emissions neutrality, according to the communiqué on the COP26 objectives.
Meanwhile, the International Energy Agency (IEA) study reported that only 29% of global electricity is generated with clean energy and renewable resources. There is a historic opportunity in the digitization of the electricity grid, he added. Unlike the traditional grid, which offers a one-way path for power, this new smart grid could move from user to user with decentralized transformers. Other ways of generating power with clean energy sources could be incorporated along these lines.
According to IEA reports, crowdsourcing for digitization requires an initial annual investment of 260 billion dollars (mmd) to 820 mmd from 2021 to 2030. If implemented, the cost of energy such as wind and photovoltaic would be reduced to integrate more consumers into the smart grid. In this regard, the WEF added, these energies are key participants in the transition to achieve zero carbon footprint, as they have increased their energy production since 2016.
A study by clean energy research provider BNEF, consulted by NotiPress, reported that wind and solar power generate half of the world’s electricity today. A figure is equivalent to 118 gigawatts (GW) produced by one-third of the countries with significant participation in the sector. Due to better costs in solar equipment, their profitability margin has increased, with capacities of up to 644GW. As part of the environmental changes to move away from fossil fuels and reduce emissions, these sources of electricity show signs of having even greater participation in the coming years, he concluded.
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