Washington, DC, U.S.A. — (METERING.COM) — July 22, 2013 – Smart meters, smart grids and other new clean technologies can be expected to receive increased support from the World Bank, a new paper indicates, outlining future directions for the Bank’s energy sector.
The two main areas that these technologies may receive funding appear to be in helping to tackle the regulatory and financial barriers to their adoption, and demonstration projects.
States the paper: “New clean technologies – such as smart meters, smart grids, and concentrating solar power – may be proven elsewhere but new to a given market… Other technologies may be technically proven but require a significant cost reduction before they can be made commercially viable. An example is long term storage of energy for small scale solar and wind power…
Future World Bank Group activities will directly finance projects for specific sustainable energy technologies and facilitate new technology development through policy support, capacity building, the launch of clean energy market mechanisms, early stage equity investments by IFC in clean technology companies, and knowledge generation and sharing.”
The paper, entitled Toward a Sustainable Energy Future for All, is closely aligned with the Sustainable Energy for All initiative, which has the triple goals of achieving universal access, doubling improvements in energy efficiency, and doubling the global share of renewable energy by 2030.
The paper says that supporting universal access to reliable modern energy is a priority.
In countries with low energy access, the priority will be affordable and reliable energy.
Grid, mini-grid, and off-grid solutions will all be pursued for electricity. In rural, remote or isolated areas, off-grid solutions based on renewable energy combined with energy efficient technologies could be the most rapid means of providing cost effective energy services.
Efforts to improve energy efficiency will be scaled up according to countries’ needs and opportunities. Opportunities vary widely but include increasing the efficiency of the existing energy infrastructure through rehabilitation, moderating demand for energy, adopting more efficient technologies, and making cities more energy efficient.
The Group will also continue to support and finance all forms of renewable energy, based on the country’s resource endowment, capacity, and policy environment, among other factors.
Other areas that the Group will support include national and regional planning. Regional integration will be promoted as offering the potential to meet the three sustainable energy goals faster and at lower costs.