New Delhi, Nov. 24 -- Around the world, energy systems are undergoing profound, rapid transformations that will leave them looking dramatically different a decade from now. A major driver is the increasing electrification of the global economy. Not only are more people adopting electric vehicles (EVs), heat pumps and smart (digitally interconnected) appliances; we are also witnessing explosive growth in the construction of electricity-hungry data centres, many of them powering AI.

Owing to these trends, the International Energy Agency has projected that electricity demand will grow six times faster than overall energy demand by 2035.

The supply side of the energy sector is also evolving rapidly. Renewable energy sources, especially sola...