The dual climate and energy crisis is putting pressure on the EU to accelerate the transition of its energy system, from one reliant on imported fuels to one running on renewable energy
The European Commission just proposed to raise renewables targets from 40% to 45% by 2030
The grid of the future needs to accommodate more flexible assets while supporting increased levels of electrification. It can do so with a mix of grid capacity build-up, seconded by a wide deployment of innovative grid technologies, like grid flexibility, aggregation, vehicle-to-grid, nowcasting, etc.
EU DSOs forecast an annual investment increase of 50-70% over the next ten years to adapt
The graph below shows VC investments in grid and networks innovation is already very high in North America, but lagging in the EU. To catch up, the EU should come up with a clear strategy for how to integrate new grid technologies into grid improvement plans.