CURRENT-EUROPE
CurrENT Europe, the industry association for European innovative grid technology companies, and economic consulting firm Compass Lexecon are releasing a new innovative grid technologies report.
Grids are increasingly becoming a bottleneck. Up until now, the transition has been focused on the production side of clean energy generation, but we are now hitting the limits of our grid. The energy transition urgently needs more grid capacity. Electrical transmission and distribution network lengths across Europe need to grow by up to 50% and 60% respectively if we are to see a fully decarbonized power system by 2040.
Innovative Grid Technologies (IGTs) can improve grid capacity up to 40%, generating between 100-200GW of extra capacity by 2040. Even a conservative deployment of innovative grid technologies can accelerate transmission grids expansion by 5 to 8 years and distribution grids expansion by 4 to 7 years. Installing IGTs could contribute to the need for network buildout and achieve gross savings of approximately 35% representing up to 700 billion Euros by 2040.
CurrENT and Compass Lexecon’s report, supported by Breakthrough Energy, share 5 recommendations to improve IGT adoption and ‘future proof’ European grids:
- Avoid ‘death by pilot’ – Issue guidance to national grid regulators on how to incentivize meaningful mass deployment of commercially available grid-enhancing technologies.
- Measure and set specific targets for adding grid capacity - Europe needs to measure how fast grid capacity is growing annually, and if the pace willl meet Europe’s decarbonisation and energy independence objectives.
- A greater proportion of innovation funding needs to go to electricity grids - Only 18% of the total funding of €3.1 billion spent under the EU ETS Innovation Fund has gone to renewables and storage and 8% to other technologies including efficiency.
- Regulatory and technical sandboxes - These will ensure that safe, reliable technology can be proven as proposed by the Commission’s Net Zero Industry Act.
- Guarantee scheme(s) for the perceived risk of performance of innovative technologies - Some utilities are concerned about potential underperformance of mature innovative technologies or even stranding of assets. Such guarantees could mitigate these concerns in implementing newer grid technologies by stakeholders.
Read the full report here.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240619711173/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
ViaLase Announces First Patient Treated in IDE Clinical Trial Evaluating Its Femtosecond Laser Trabeculotomy for Open-Angle Glaucoma3.12.2025 14:00:00 CET | Press release
Prospective, randomized controlled trial compares novel femtosecond laser procedure to selective laser trabeculoplasty (SLT), advancing path to US commercialization ViaLase, Inc., a clinical-stage medical technology company pioneering incision-free, laser-based solutions for glaucoma, today announced that the first patient has been treated in its U.S. Investigational Device Exemption (IDE) clinical trial evaluating the company’s femtosecond laser trabeculotomy procedure for the management of glaucoma, a lifelong, progressive, and incurable disease that remains a leading cause of irreversible blindness worldwide. This prospective, multicenter, randomized, controlled trial evaluates the ViaLase procedure in comparison to selective laser trabeculoplasty (SLT), the current standard laser treatment for reducing intraocular pressure (IOP). This trial was designed in consultation with the FDA to achieve clearance and commercialization in the U.S. and thus represents one of the most rigorous e
Winchester Interconnect Launches LiteSPEed™ Cable: Faster, Lighter, Simpler Connectivity for Mission-Critical Systems3.12.2025 14:00:00 CET | Press release
Winchester Interconnect, an Aptiv company and leading supplier of high-performance interconnect solutions, today introduced LiteSPEed™ Cable, a next-generation single-pair Ethernet (SPE) solution that delivers 10-gigabit data rates in a dramatically smaller, lighter design. Built for the increasingly connected and space-constrained environments of aerospace, defense, industrial automation and next-generation mobility, LiteSPEed™ helps customers move more data with less cable, reducing weight, complexity, and cost while increasing system performance and reliability. “As systems become more intelligent and interconnected, engineers need lighter, more efficient ways to deliver power and data,” said Juan Contreres, director of product management. “LiteSPEed™ gives them a rugged, high-speed Ethernet solution that simplifies installation without compromising performance.” With advanced sensors, real-time analytics, and distributed control systems proliferating across industries, cabling has
Owkin Announces International Validation Results of BRCAura: AI-Driven Screening for gBRCA Mutations Directly From Pathology Slides3.12.2025 14:00:00 CET | Press release
Owkin shares promising validation results for BRCAura RUO, a clinical-grade research-use-only AI product designed to screen for germline BRCA1/2 mutations (gBRCAm) directly from digitized breast cancer pathology slides. Breast cancer remains the leading cause of cancer-related deaths among women worldwide. Identifying patients with germline BRCA1/2 mutations is essential for guiding targeted treatment decisions, but testing is not always consistently offered to eligible individuals, and implementation varies between countries. The model concept was initiated as part of Owkin’s ongoing partnership with Gustave Roussy and Centre Léon Bérard through PortrAIt, a French consortium dedicated to advancing precision medicine with AI-enabled digital pathology. Fostered through collaboration with AstraZeneca, as announced in October 2024, the development of BRCAura aims to accelerate and expand identification of BRCA mutations in patients with breast cancer. Strong validation across internationa
Adva Network Security achieves BSI approval for PQC-encrypted edge networking device3.12.2025 14:00:00 CET | Press release
News summary: Critical infrastructure, defense and governments need quantum-safe encryption at the edge to neutralize ‘harvest-now, decrypt-later’ risks FSP 150-XG118Pro (CSH) delivers quantum-safe encryption via software update, enabling seamless upgrades with no hardware changes BSI approval confirms the device’s compliance for government and defense use Adva Network Security today announced that the FSP 150-XG118Pro (CSH) 10Gbit/s edge device now delivers quantum-safe encryption based on post-quantum cryptography (PQC). This enhancement enables operators of critical network infrastructure (CNI) to secure data in motion and build future-ready networks. Certified by the German Federal Office for Information Security (BSI), the solution’s Ethernet encryption offers PQC crypto-agility via a software update, eliminating the need for hardware changes. With its new capabilities, the FSP 150-XG118Pro (CSH) is ideally suited for diverse high-security environments, ranging from national infra
Meiji Seika Pharma Invests in Lyric Bio for Next-Generation Human Immunoglobulin Manufacturing3.12.2025 14:00:00 CET | Press release
Meiji Seika Pharma Co., Ltd. (Head Office: Chuo-ku, Tokyo, President: Toshiaki Nagasato) today announced a strategic equity investment in Lyric Bio, Inc. (Head Office: San Carlos, USA, founded by Chief Executive Officer: Kayj Shannon and Chief Scientific Officer Melanie Matheu). Through this investment, Meiji Seika Pharma seeks to accelerate the early-stage development of Lyric Bio’s innovative platform for producing human immunoglobulin (IVIg), explore donation-independent manufacturing methods, and lay the groundwork for a more resilient, high-quality supply of plasma-derived therapeutics to meet increasing global demand. Lyric Bio is developing a next-generation biomanufacturing platform for IVIg production. The company’s approach uses tissue-mimicking bioreactors built on a proprietary laser-printed cellular substrate that enables ultra high-density cell growth and has the potential to deliver more than 1,000 IVIg doses from a single donor. This investment will accelerate Lyric Bio
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom