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Journal Article | Financial Innovation for Energy Innovation

Ashby Monk
Soh Young In
The Brown Journal of World Affairs
2020

The move toward a global energy transition is underpinned by the collective need to limit the most severe impacts of climate change as well as to foster more sustainable economic growth. Floating photovoltaic power stations on Chinese lakes, integrated carbon capture technology on large-scale power plants in Canada, and decentralized urban wind turbines on Singaporean rooftops are just a few examples of how radical innovations in clean energy technology are fueling the global energy transition. Bringing cutting-edge technology from the lab to the global energy market requires a supportive ecosystem. Innovation must be matched by market readiness to adopt disruptive technologies, local capacities to scale up new energy projects, energy policies with climate objectives, technological development, and sufficient and “aligned” investment capital.