Fro News Desk
Digitisation and AI-based applications are becoming game changers for the energy transition. They cut electricity costs for end-users, increase energy security, improve business performance and help integrate low-cost renewables, according to a new report.
Digitisation and AI for Power Systems Transformation: Perspectives for the G7 explores how AI and enhanced applications such as forecasting or automated grid operations can create value across the power system. The report was published by the International Renewable Energy Agency (IRENA) at the request of the Canadian G7 Presidency, during the G7 Energy and Environment Ministers’ Meeting taking place from 30-31 October in Toronto, Canada.
The analysis intends to guide G7 countries via five value clusters: monitoring, forecasting, operational optimisation, end-use automation; and transparency to address the global power systems transformation. It builds on close cooperation with emerging and developing economies (EMDEs) and highlights advantages for energy access and socioeconomic development in EMDEs, where modernised grids and targeted investment can unlock vast opportunities.
Tim Hodgson, Canada’s Minister of Energy and Natural Resources, welcomed the report’s findings, “Digitisation and the rise of new technology like AI is reshaping global energy systems, from increased electricity demand to industrial efficiency. Empowering Canada’s energy sector to harness digital solutions is vital to make it more secure, responsible and competitive. Our government was pleased to collaborate with IRENA on a report that reinforces the energy security and innovation priorities that Canada is advancing at the G7 Energy and Environment Ministers’ Meeting.”
Francesco La Camera, Director-General, IRENA said, “Preliminary IRENA data shows the world is set to smash renewable power records again this year, the strongest step toward tripling renewables by 2030. With electricity powering more than half of global energy by 2050, reliability, affordability and security must be the backbone of the digital transition.”
Today’s report encourages a holistic, integrated approach to digitisation, aligning financial incentives, regulatory frameworks and workforce development to reduce uncertainty, encourage innovation, and ensure equitable technology adoption.
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Global Perspectives... 