Structural Changes Needed As Energy Shift Picks Pace – IEA

The world happens to be becoming less dependent on fossil fuels, and the rollout of renewable technology has some serious momentum behind it, as per Tim Gould, who happens to be the Chief Energy Economist at the IEA, who also warned that there is work to do when it comes to energy transition and that structural changes happen to be required on a worldwide scale to limit the effects of climate change.

Gould went on to highlight the potential of new technologies in order to streamline the energy shift and also noted that innovation within the sector happens to be driving progress and giving out solutions to fossil fuel dependency.

He added that there happen to be a number of examples of quite significant transitions when it comes to mature, clean tech, but further thinks that the other important thing that they happen to be seeing now is that certain elements that were moving slowly are now beginning to pick up some steam. They are seeing some more dynamism, he added.

But he also warned that the planet happens to remain on a dangerous track, saying that they need to do everything in their capacity on the mitigation front, which means that structural changes within the energy sector will move them closer towards a cleaner as well as lower emissions future. However, they also need to take into account that there happens to be a risk that they might not be on track for a trajectory that is compliant with the Paris Agreement.

Gould went on to expand specifically on the insufficient grid infrastructure issue, thereby noting that 1,500 GW of renewable projects happen to be waiting for a transmission link.

Apparently, the IEA had previously stated that, for nations in order to reach national energy and climate goals, more than 80 million kilometers of grids have to be installed or refurbished by 2040. Gould reiterated the significance of this, thereby warning that one needs to be extremely watchful of the elements that happen to be lagging behind.

Gould went on to emphasize the requirement for a united front when it comes to tackling climate change and at the same time mitigating its effects, stating that one of the most significant roles that the IEA can go on to fulfil is to try and also bring nations together and also remind oneself that, if one has to win this battle against climate change in a specific timeframe that goes on to avoid very severe impacts, it is indeed pivotal to be working together.