Try the World Bank if you want smart grid funding

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By: SGN Staff

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A new report indicates that the World Bank may give additional support to smart meters and smart grids. The report, Toward a Sustainable Energy Future for All, is part of a larger World Bank initiative that seeks to provide universal access to electricity with emphasis on renewables.

 

In remote areas, renewables combined with microgrids will be the fastest way to give residents access to electricity, according to the report. In urban areas, energy efficiency will be a priority.

 

The report cites energy storage as a possible solution, but warns that it requires additional development. The initiative promises financial support for renewable energy; for national planning; and for regional interconnection. It also plans to tackle regulatory barriers and to help finance demonstration projects.

 

"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."

 

Jesse Berst is the founder and Chief Analyst of SGN and Chairman of the Smart Cities Council, an industry coalition.