How the energy crisis is reshaping investment

Since the mid-20th century, scientists and engineers around the world have been working to harness the potential of fusion energy. Driven by the knowledge that success could revolutionise the energy system, they have pursued fusion’s tantalising potential to provide abundant around-the-clock electricity with minimal fuel inputs, no direct emissions and very little radioactive waste.   Recently, momentum behind the sector has been building. Government-led research programmes have achieved a series of technological milestones, and investment from the private sector has surged. Together, these developments have supported growing interest in the sector – although significant challenges still need to be overcome to make fusion power plants technically and economically feasible.   In this episode, we look at where fusion energy stands today and where it could be headed, based on interviews with four experts from across the industry: Alain Bécoulet, ITER’s Chief Scientist; Simon Bennett, an IEA analyst focused on energy innovation; Jennifer Ganten, the Chief Global Affairs Officer at Commonwealth Fusion Systems; and David Maisonnier, Chair of the IEA’s Fusion Power Coordinating Committee. They explain how fusion works, discuss the sector’s evolution, and outline the remaining questions that need to be answered before a power plant running on fusion energy is connected to the grid.

Around the world, the price of diesel is at or near all-time highs, with major implications for shipping, agriculture and the broader economy. In this episode, we speak with IEA experts David Martin and Talya Vatman who explain why diesel prices have risen more sharply than those of gasoline and crude oil – taking stock of the impacts from the war in the Middle East, Ukraine’s attacks on Russian refineries, and limited capacity across the refining sector globally. They also discuss how the situation could evolve in the coming months.

Invented at the turn of the 20th century to control humidity at a New York printing plant, the air conditioner has reshaped the economies and societies that have had access to it. Today, more than 1.5 billion AC units are in use around the world – and as incomes and temperatures rise, demand continues to grow rapidly.   But there are challenges associated with this air conditioning boom. If a city’s residents all turn on their ACs at the same time, the resulting surge in electricity consumption can strain power grids. Growing electricity demand from air conditioning also contributes to higher energy sector emissions. That’s why innovators are working to improve cooling technologies, be it by making air conditioners more efficient or by developing entirely new systems to help people stay cool.   This is the final episode in a three-part miniseries on energy innovation stories that changed the world. It is hosted by Dan Hewitt and produced by Dan Hewitt and Julia Horowitz. Guests include IEA analysts Chiara Delmastro and Simon Bennett; Eindhoven University of Technology Professor Daniel Barber; Blue Frontier Co-founder and CEO Daniel Betts; and University of Cambridge Professor and Barocal CEO Xavier Moya.