The world is entering a new era of electricity. What does this mean for Ukraine?
The International Energy Agency has released its updated Energy Technology Perspectives 2024 report. The oil and gas era is gradually fading, and the world is shifting into a “new era of electricity,” where renewable energy sources will dominate.
Key global trends:
– Between 2015 and 2023, the markets for solar panels, wind turbines, electric vehicles, electrolyzers, and heat pumps grew fourfold — reaching $700 billion;
– To 2035, the global clean-tech market may exceed $2 trillion;
– Global trade in “green” technologies is already outpacing LNG and continues to grow.
What does this mean for Ukraine?
– Demand for energy efficiency, technological innovation, and new approaches to electricity generation will continue to rise;
– Regions that can quickly adapt, modernize their grids, and invest in flexible technologies and local projects will gain a competitive advantage in the new economy;
– Achieving a balance between renewables, flexible (dispatchable) generation, and smart grids will be essential;
– And most importantly — attracting innovative businesses whose development will shape Ukraine’s new energy economy.
Ukraine has all the prerequisites to enter this “new era of renewable electricity” — provided it prioritizes modernization, resilience, and advanced technologies today.
