CURRENT-EUROPE
20.6.2024 09:01:26 CEST | Business Wire | Press release
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
Axelspace’s Seven GRUS-3 Earth Observation Microsatellites Successfully Launched and First Signals Received8.7.2026 07:00:00 CEST | Press release
Axelspace Corporation (“Axelspace”), a leading developer and operator of microsatellites dedicated to realizing its vision of “Space within Your Reach,” announced that the seven GRUS-3 next-generation Earth observation microsatellites were successfully launched and that the first radio signals were successfully received. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707291751/en/ The successful launch of Falcon 9 ©SpaceX GRUS-3 was integrated via Exolaunch and launched aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California, USA, on July 7, 2026 at 07:12 (UTC) during the Transporter-17 rideshare mission. The satellites were successfully put into their intended orbit. Axelspace received the first radio signals from all the seven satellites in orbit. The satellites are currently operating normally. Axelspace is working toward completing the critical operation of the GRUS-3 microsatellite to ensure pr
QpiAI Open-Sources Its Quantum SDK to Accelerate Global Quantum Software Development8.7.2026 06:30:00 CEST | Press release
QpiAI, a globally leading full-stack quantum computing company, today released the QpiAI Quantum SDK as open-source software. Available now at https://github.com/qpiai/quantum-sdk, the QpiAI Quantum SDK gives developers, researchers, and startups an accessible, developer-friendly toolkit to build and run quantum algorithms and to connect their quantum development workflows directly to QpiAI's 8-qubit and 25-qubit quantum computers through QpiAI-QCloud (https://qcloud.qpiai.tech/). The release is designed to expand access to quantum software development for developers, researchers, universities, startups, and enterprise innovation teams worldwide. By open-sourcing the SDK, QpiAI is giving the global quantum community a practical foundation for building industry-specific quantum solutions across finance, logistics, materials, chemistry, security, AI, optimization, and advanced scientific computing. The QpiAI Quantum SDK provides a Python-based interface for circuit creation, simulation,
Access Advance Welcomes Wave of New Licensees to the HEVC Advance Patent Pool8.7.2026 02:00:00 CEST | Press release
Access Advance LLC, the leading HEVC patent pool administrator, today announced a significant expansion of the HEVC Advance Patent Pool, with 28 companies executing licenses in the first half of 2026. The new Licensees span consumer electronics, automotive, telecommunications, industrial technology, and professional security, reflecting the breadth of industries in which HEVC has become a foundational video technology. "HEVC remains the cornerstone of modern video delivery, and the demand we are seeing from new Licensees speaks to the long-term commercial relevance of this technology," said Peter Moller, CEO of Access Advance. "HEVC licensing activity has been consistently strong, and we are pleased to welcome a number of important new participants to the program." Notably, nine video surveillance equipment manufacturers have joined the HEVC Advance program as Licensees, ranging from three of the world's largest video surveillance equipment makers to specialized developers of security
Empire State Building Observation Deck Run-Up Returns for 48th Annual Race on Oct. 68.7.2026 00:22:00 CEST | Press release
Presented by NYU Langone Health and Powered by MerrellLottery Open Through July 20 The Empire State Building Observation Deck (ESB), atop the “World’s Most Famous Building,” today announced that general lottery registration is open for this year's Empire State Building Observation Deck Run-Up (ESBRU), which will run through July 20, 2026. The annual race, presented by NYU Langone Health and powered by Merrell, will take place on Oct. 6, 2026, at 8 p.m. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707902561/en/ Empire State Building Observation Deck Run-Up Returns for 48th Annual Race on Oct. 6 This year’s race marks the 48th anniversary of the event, in which 225 runners will race up 1,576 stairs of the iconic New York City landmark to reach the world-famous 86th Floor Observation Deck. “Every year, the Empire State Building Observation Deck Run-Up is a remarkable feat for all who participate as they race up to Tripadvi
Modon's Hudayriyat Golf Estates Sets UAE Record With More Than AED 13 Billion in Sales Within Days of Launch7.7.2026 20:36:00 CEST | Press release
A record-breaking sales value for a residential project in the UAEThe project comprises golf mansions, villas, and townhouses across Hudayriyat Island, Abu Dhabi1,700 residences sold within days after the launch15% non-UAE resident buyers81% new customers to Modon Modon has set a new benchmark for the UAE real estate market with the launch of Hudayriyat Golf Estates on Hudayriyat Island, Abu Dhabi. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707126559/en/ Modon's Hudayriyat Golf Estates sets UAE record with more than AED 13 billion in sales within days of launch (Photo: AETOSWire) Within days of launch, the community achieved record-breaking sales exceeding AED 13 billion, marking the highest publicly recorded sales value for a single residential project launch in the UAE. Comprising an exclusive collection of golf mansions, villas, and townhouses, the development saw 1,700 of its residences sold after few days of laun
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