Ten promising clean energy technologies that will help accelerate the global transition to clean energy were announced in Korea on the first day of the fifth Clean Energy Ministerial meeting.
The global forum of energy ministers and officials from 23 governments kicked off on Monday at the Grand Hyatt Hotel for a two-day run. The participating governments represent 90 percent of all global clean energy investment and 80 percent of global greenhouse gas emissions.
Korean Energy Minister Yoon Sang-jick speaks during the first day of the Clean Energy Ministerial meeting, which kicked off on Monday at the Grand Hyatt Hotel in Seoul for a two-day run. (Lee Sang-sub/The Korea Herald)
Presented by Ahn Nam-sung, president of Korea Institute of Energy Technology Evaluation and Planning, the breakthrough clean energy technologies encompassed high-voltage direct current electric power transmission technology, advanced energy storage systems, biofuels, smart grid systems, carbon capture utilization and storage technology, ultra-efficient solar power systems, advanced offshore wind turbine technology, hybrid renewable energy systems, energy management systems based on wireless technology, and advanced thermal storage systems.
These technologies are essential for the global energy transition. However, improvements in two other critical factors ― continued investments and market creation ― are needed to accelerate the clean energy revolution, Korean Energy Minister Yoon Sang-jick said.
For this, Yoon called for international efforts to develop standardized rules and regulations for clean energy products and services, which will lower trade barriers for clean energy products and related services.
Despite continued improvements for the transition to clean energy, major challenges remain. U.S. Energy Department Secretary Ernest Moniz pointed out, “Renewable energy makes up only 18 percent of the global energy mix, while energy demand for coal use is still on the rise globally.”
Global investments in clean energy have slid since peaking in 2011 at $31.8 billion.
In efforts to put the global clean energy initiative back on track, participants of the fifth CEM meeting in Seoul reconfirmed bolder and more ambitious commitments to the energy transition. The efforts will not only help reduce the risks of climate change but also create jobs and entrepreneurial opportunities, they noted.
By Seo Jee-yeon (
jyseo@heraldcorp.com)