“I see two major factors that will hugely influence how the marketplace of the future will look: the wide-scale roll-out of renewable and distributed power generation systems and the development of intelligent IT systems,” European Commission’s Vice-President Maroš Šefčovič responsible for Europe’s Energy Union said on January 23 at the World Economic Forum in Davos.

He mentioned that he had positive feedback of the main industry active in energy efficiency on their investment potential in the coming years. At the end of February, the Commission will publish its vision for what he called an Energy Union, one of the EC’s main project for its five-year term. Mr. Šefčovič addressed the EU Parliament Environment Committee on January 27 mentioning the need to ensure improvements in energy storage technologies pointing however mainly to battery technology.