Showing posts with label #decarbonization. Show all posts
Showing posts with label #decarbonization. Show all posts

Wednesday, October 25, 2023

๐Ÿ”‹IMATRIX: The Future of Energy - Ways to Transition ๐Ÿ”‹

๐Ÿ”‹IMATRIX: The Future of Energy - Ways to Transition ๐Ÿ”‹

 Ref: McKinsey and Company



Action AreasDescriptionWays to Achieve It (as per the article)How the Pacific is Affected
Designing and deploying a capital-efficient and affordable systemEfficient decarbonization planning; Cross-sectoral resource planning; Capital efficiency in energy sector spending; Empowering and educating customers to manage rates.- Plan investments for long-term decarbonization - Deploy capital more cost effectively - Empower and educate customers to manage rising ratesImproved energy affordability, potential for clean energy growth, reduced environmental impact.
Strengthening supply chainsSecure availability of raw materials; Scale up resilient manufacturing; Develop and acquire talent.- Secure long-term supply agreements for raw materials - Innovate to reduce material constraints - Invest in talent acquisition and developmentStable access to materials, potential for job creation, ensuring a resilient energy supply in the Pacific region.
Securing access to adequate landDeveloping land with strong potential for renewables efficiently; Improved solar and wind technology; Value sharing with communities.- Efficiently develop land for renewables - Improve technology efficiency to require less land - Share economic value with communitiesMore efficient use of available land, potential for renewable energy generation, increased local economic opportunities.
Reforming transmission developmentDiversification of transmission methods; Deploying DERs; Optimizing electric transmission; Transition to dispatchable zero-carbon resources.- Deploy DERs for local capacity - Optimize electric transmission with existing gas network - Transition to dispatchable zero-carbon resourcesEnhanced grid reliability, integration of renewables, ensuring energy access in remote Pacific areas.
Creating market mechanismsEstablish market mechanisms to ensure reliable and adequate clean-energy supply; Revise resource planning; Expand forecasting; Incentivize flexible power sources.- Revise resource planning for decarbonization - Expand forecasting to account for changing supply and demand - Provide incentives for flexible power sourcesEnsure power reliability, affordability, and sustainability in the Pacific region.
Accelerating technological innovationInvesting to reduce risk; Providing long-term market and regulatory clarity; Investing in shared infrastructure to scale up new clean technologies.- Invest in research and development for new technologies - Provide regulatory clarity and incentives - Invest in shared infrastructure for scaling up new technologiesAccess to cutting-edge technologies, sustainable energy solutions, job opportunities in innovative sectors.


๐Ÿฅ IMSPARK.: a Thriving Pacific: Navigating the Future of Care๐Ÿฅ

๐Ÿฅ Imagine... a Thriving Pacific: Navigating the Future of Care๐Ÿฅ   ๐Ÿ’ก Imagined Endstate:   A Pacific community where every individual, rega...