iENERGY is a two-year research and innovation project from Marie Skłodowska-Curie Actions, funded by the European Union. The iENERGY project arose in response to one of the most important questions of our time: How can we effectively combine technology, law, and data to accelerate the transition to a carbon-free future? Read More
Over the past few decades, our planet’s temperature has risen significantly – by about 1.2°C. The primary cause is the increased concentration of greenhouse gases in the atmosphere, such as carbon dioxide, methane, and nitrous oxide. The most significant contributor to climate change is carbon dioxide, accounting for 75%. The energy sector is the main source of carbon dioxide, responsible for over 70% of global emissions. If urgent actions are not taken now, the planet’s temperature will rise by up to 4.5°C by 2100, affecting every country in the world with extreme consequences for ecosystems, water, land, air quality, and agriculture.
A key solution to avoid this disastrous scenario and achieve a carbon-free future is the adoption of clean, secure, affordable renewable energy technologies. Renewable energy comes from natural sources and can be used again and again without damaging our planet’s climate. The most common sources are solar, wind, hydropower, geothermal, and biomass.
Today, renewable energy contributes 15% of global energy production. But this is not enough. To limit climate change, renewables must rise to between 60 and 70% by 2050, requiring about 4 trillion euro in investments each year. Currently, investment in the renewable energy sector is less than 2 trillion euro.
How are the renewable energy sector and law interconnected? To attract and protect investment, 172 countries in the world adopted energy and climate policies, targets and laws. However, many of these countries face technological and legal challenges. Some of these challenges are related to changes in terms of contracts, regulatory frameworks, subsidies or incentives, implementation of additional import-export tariffs, technology transfer and industrial standards. Such challenges lead to conflicts of interest and investment disputes with claims of about 60 billion euro, jeopardising the growth of the renewable energy sector.
How does the iENERGY model work? iENERGY’s index metric is a composite data-driven tool that combines multiple indicators into a unified, evidence-based score. For example, from a technology perspective, the iENERGY index includes data on infrastructure for integrating renewable energy, high-tech import-exports, industrial designs, and digital content. In the context of law, the index is built on indicators that assess whether regulations are clear, stable, effective and transparent, and whether investors feel legally secure. iENERGY’s index metric has been applied across 34 countries, 12 urban centres, and 18 large public companies.
iENERGY is an excellent example how engineers, legal experts, and data scientists can work together to help investors, policy makers, communities, and companies make smart choices about clean energy investments. iENERGY helps to reduce risk by tracking regress or progress over time, and identifying gaps in infrastructure or laws, ultimately accelerating the transition to a carbon-free future.
