The new report indicates that the World Bank can provide additional support for technologies and smart grids implementation. The report "Towards a Sustainable Energy Future for All", is part of a large World Bank initiative, which aims to provide universal access to electric power with an emphasis on renewables.
In remote areas, renewable energies combined with microgrids, will be the fastest way to give residents access to electric power, according to the report. In urban areas, energy efficiency will be a priority.
The report also cites energy storage as a possible solution, but warns that it still requires further development. The initiative promises financial support for renewables for national planning and regional interconnection. It also plans to remove regulatory barriers and to help fund demonstration projects.
"The World Bank intends to finance projects directly to specific technologies of sustainable energy and facilitate the development of new technologies through the policy support, capacity building, launchin clean energy mechanisms, initial stage investment by IFC on cleantech companies and generation and knowledge sharing."