As hourly matching and 24/7 carbon-free energy (CFE) expose where clean power still falls short, they turn system stress into a compelling investment signal for grids and storage.
Begonia Figueroa, consultant at International Renewable Energy’s Utilities for Net Zero Alliance (UNEZA) platform, sets out the business case for policies that accelerate grid and storage investment, mobilising over USD 1 trillion in energy transition spending by 2030.
The transition to 24/7 carbon-free energy (24/7 CFE) is no longer just an environmental ambition. Hourly matching has become a powerful diagnostic and investment tool that reveals where electricity systems are failing to deliver clean power to match real-time demand. As Begonia, puts it, “hourly matching functions as a system stress test” by exposing what annual averages conceal. Hourly electricity data reveals congestion, curtailment and infrastructure bottlenecks that translate directly into economic losses and investment opportunities.
This visibility matters because the costs are already material. Globally, “there are around 3,000 GW of generation projects that are stuck in connection queues,” says Begonia. In Europe alone, the economic signal is unmistakable. “Roughly 30 terawatt-hours of renewable electricity were curtailed in six countries in 2023, which translates into around €9 billion of lost economic value,” she adds. 24/7 CFE converts these hidden system costs into visible price signals for grid upgrades, storage and flexibility.
Policy signals are beginning to align with market needs, as shown by the European Union’s (EU) focus on grids in its new Grids Package.
Additionally, the endorsing state and non-state actors of the COP29 Energy Storage and Grids Pledge, which included UNEZA, commit to a collective goal of deploying 1,500 GW of energy storage by 2030, more than six times 2022 capacity, to ensure grids can deliver clean electricity when and where it is needed. Carbon pricing instruments such as the EU Carbon Border Adjustment Mechanism (CBAM) and reforms in global reporting frameworks like the Greenhouse Gas (GHG) Protocol Scope 2 are reinforcing demand for credible, granular clean power procurement and driving the commercial case for flexibility.
At COP30, UNEZA members committed to spending USD 148 billion per year on the energy transition, including USD 82 billion annually for grids and storage. By 2030, those commitments alone will mobilise more than USD 1 trillion.
Policy needs to act as a key enabler for 24/7 CFE deployment at scale, so that today’s grid stress becomes tomorrow’s infrastructure return, underpinning electrification, job creation, competitiveness and long-term growth.
