From the food we eat to the health system that keeps us well, to the many electronic devices that keep us connected and entertained wherever we are – every modern necessity and convenience is dependent on energy in one form or another. But in order to further advance the living standards and improve the quality of life for people in the years ahead, we are continuously reaching for affordable and reliable energy to drive economic growth and build prosperity. In that context, it’s often underappreciated just how much catching up the developing world has to do. For example, energy consumption per capita in non-Organization for Economic Co-operation and Development countries is less than one-sixth of that in the North America.
As developing nations advance and work to improve the quality of life, demand for energy will rise. Global energy demand is projected to increase roughly 40% by 2035 compared to 2015 levels. To meet that demand the world is going to need all forms of energy but not only crude oil, natural gas, coal and nuclear.
For the majority of Asian and African countries, the pathway to prosperity will be through affordable energy.
If we’re going to meet the world’s energy needs and achieve our environmental objectives, we will need to continue to pursue advancements in technology and innovation and invest significant capital.
For example, Hitachi believes Social Innovation is key to optimizing the energy flow to ensure a more reliable and sustainable world for generations to come. With extensive experience and advanced technologies, the company is able to successfully utilize a wide variety of energy sources – from thermal and hydro to renewable energies like wind and solar – to provide a stable and sustainable power supply. Using smart grid technologies, Hitachi’s solutions provide to increasing energy needs in evolving energy markets worldwide.