Exciting news has emerged from the United States. For the first time in history, scientists have created a nuclear fusion reaction that resulted in a net energy gain.
This development highlights the importance of government collaboration with the private sector in order to facilitate the energy transition. Although this is a leap forward in our capability, we still have a long way to go before we can rely on fusion to eliminate our dependence on fossil fuels. That is why many governments are also investing in renewable energy technologies.
The UAE for example, recently partnered with the US to invest $100 billion in order to deploy clean energy in both their own and emerging economies by 2035.
Governments and corporates that invest in this sector earlier could benefit from new growth opportunities such as net zero as a service, carbon storage and carbon removal etc. Consequently, many are utilising consulting firms to help capitalise on the full value of this global shift.
Morocco, for instance has recently partnered with EVConsult to create a hybrid market model approach in their goal to accelerate electric car adoption. The state will take the lead in rolling out charging infrastructure whilst market parties are expected to take over operations by 2030.
Whether renewable or nuclear, clean energies are the future of the energy sector. We expect to see more competition in this arena as investments and technological advancements compound upon each other.
- John Barker