Future Energy Strategy - Orla Gray, Department for the Economy
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Future Energy – Opportunities for Growth Future Energy Strategy - Orla Gray, Department for the Economy
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Future Energy Strategy - Orla Gray, Department for the Economy
- 2. Key Trends Decarbonise Decentralise Digitalise
- 3. Key Challenges • Fundamental mind set change • Decarbonisation of heat and transport • Significant levels of investment required – minimise costs and maximise benefits + who pays for what? • Overall energy costs – households & businesses, business competitiveness & economic growth, fuel poverty • Role of natural gas - as transition fuel , with CCS • Whole system thinking – new roles, prosumers, governance, regulatory frameworks, business models • NI Energy sector - applying generic energy transition and decarbonisation to specifics of our energy sector (e.g. grid, renewable policy, ISEM) • Brexit
- 4. Key Opportunities • Clean Growth Strategy/Industrial Strategy • Spending on goods & services required for energy transition • New transport modes • Sustainable building heat • Emerging, and different, renewable energy sources and technologies, storage and other DERs • New ICT technologies to increase system efficiency and operation • New entrants and new business models to meet changing patterns of both demand & supply • Construction, engineering and manufacturing of goods required for the transition
- 5. New Energy Strategy Need to consider how to, for example: • Provision of policy signals and clarity to accelerate & steer energy transformation • Energy system challenges we face & associated additional investment needs • Both current challenges and means to capture new opportunities • Enabling more choice for all types of consumers & reflect changing consumer and social preferences • Technological progress and embrace technological innovation to enhance system integration and flexibility • Ensure effective and efficient integration of variable renewables at very high levels for a cost-effective energy sector transition • All energy consumers reaping the potential benefits (financially, environmentally & socially) offered by the use of different types of investments, more efficient and new technologies, infrastructure and markets
- 6. Potential Areas to Focus Discussion 2050 Decarbonise Power/heat/ transport Integrated/ flexible & decentralised Energy costs & the economy Policy & regulatory frameworks Consumers Delivery in partnership
Editor's Notes
- Create challenges and opporutnities As the energy generation portfolio transitions and diversifies further, new challenges are emerging, which require changes to the electric utility business model and regulatory policies to ensure secure and reliable supply. Digital disruption is creating new opportunities – but also threats. On the one hand, technology is instrumental for realizing intelligent grids and interconnected assets; on the other hand, it introduces new threats such as the possibility of cyberattacks.