Pakistan Institute of Development Economics

P & R Vol.2 Issue 5
Unlocking Energy Innovations
Publication Year : 2021

Modern problems require modern solutions! This could be a reason for the developed world to opt for energy innovation years ago. Is Pakistan doing enough to catch up? In future, human ingenuity, innovation and technology will be the key to unlock an energy-proficient world. To overcome the energy crisis, Pakistan must take up style and substance of the front runners in the field. Energy Innovation is the application of various forms of innovative responses along the entire supply chain and demand. A recent webinar at PIDE on Energy Innovations points out that the world’s commitments to SDG 7 has led to an increased share of renewables in the global energy mix and the new techniques have doubled energy efficiency. Globally, micro-grids, micro-turbines, wind-turbines and solar photovoltaic are redefining energy generation and distribution. To reduce greenhouse gas emissions, to minimise costs and to improve resilience and dependability, the electricity systems through technological innovations are being decentralised, decarbonised and digitalised, referred to as “3 Ds”. Tailor-made renewable energy solutions provide an alternative to centralised grids, while battery storage provides 24/7 power supply despite intermittency of solar and wind. The emission-free system regulates and optimises power supply with a minimum human intervention using Artificial Intelligence (AI).