Over $270 Billion Investment In New Power Infrastructure Could Be Avoided Via Digital Tech: IEA

Over $270 Billion Investment In New Power Infrastructure Could Be Avoided Via Digital Tech: IEA

Digital technologies are set to transform the global energy landscape, making it more connected, reliable and sustainable, which will have a profound and lasting impact on both energy demand and supply, states a new report on Digitalisation and Energy by the International Energy Agency(IEA).

The report says that a response from demand side in building, industry and transport could provide 185 Gigawatt of flexibility, and avoid $270 billion of investment in new electricity infrastructure through 2040.

The Paris-based agency said in the report more than 1 billion households and 11 billion smart appliances could participate in inter-connected electricity systems by 2040 on the back of smart meters and connected devices, which would allow homes to alter when and how much they draw electricity from the grid.

The report added With the help of smart thermostats, the IEA report finds that smart lighting and other digital tools and buildings could reduce their energy use by 10 per cent by using real-time data to improve operational efficiency. Read More…

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