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Conventional electricity utilities fighting a losing battle against renewables

Electricity’s inevitable renewables revolution, Eco Business, 5 June 14 Light ahead Resistance for conventional utilities is probably futile and moreover unnecessary given innovative models of firms willing to apply fresh thinking. New Zealand’s Vector, Britain’s Ovo Energy, and America’s Sunverge show how aggregators can partner with prosumers to improve efficiency and increase returns. Together, consumers and communities, entrepreneurs and investors are figuring out ways to drive the great transformation of electricity called for by the IPCC and IEA. We can expect much more as policies are rewritten to make markets reflect the true costs of energy for the climate, ecosystems and health. Considered carefully, there is much to inspire policymaking, fuel economic development and enhance sustainability in Asia. A transformation of global electricity at this scale and speed, while meeting the aspirations of billions for the magic of electricity, will create many jobs, just as the car industry did, and great wealth, perhaps on par with information technology. It should therefore be little surprise if transforming electricity turns out to be one of the greatest business opportunities of the century. David Fullbrook, an ecological economist, is a senior consultant with DNV GL Energy, a renewables strategy and policy global practise in Singapore, writing in a personal capacity.

June 6, 2014 - Posted by | general

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