Budget 2021-22 is a mixed bag in terms of support for India’s transition to a sustainable, low carbon economy.

Based on assessments of energy venture capital deal flow, market analyses, and conversations with industry insiders, below are four indisputable utility sector trends -- regardless of whether the 2020 craziness repeats itself -- and the emerging, venture-backed technologies on the market to support the energy transition in 2021.

Combined, they accounted for or 22,451 megawatts (MW) or more than three-quarters (78.09%) of the 28,751 MW of new utility-scale capacity reported to have been added last year. Wind (13,626 MW) and solar (8,543 MW) each contributed more new generating capacity than did natural gas (6,259 MW).

China grid companies will steadily increase the amount of power purchased from clean generation sources from 28.2% in 2020 to 40% by 2030,

According to the Brazilian Association for Distributed Generation (ABGD), the DG segment will grow by over 50% during this year, closing 2021 with an installed capacity of more than 7GW.

"Amazon is on a path to run on 100% renewable energy by 2025 — five years ahead of our original target of 2030," Hurst said.

An expected gradual reduction in oil production of around 1-2% each year, including divestments and natural decline.

“[T]hese investments will create jobs and growth. Every new offshore wind turbine generates EUR 15 million of economic activity. We expect the 77,000 people working in offshore wind today in Europe to be 200,000 by 2030,” Dickson said.

An expanding economy, population, urbanisation and industrialisation mean that India sees the largest increase in energy demand of any country, across all of our scenarios to 2040.

the share of renewables in the U.S. electricity generation mix will increase from 21% in 2020 to 42% in 2050.

When we shut down the natural gas network and the use of fossil fuels our only source of energy will be electricity, and if 80% or more comes from wind and solar, we are more vulnerable than we were in the 1970s when the oil embargo happened.

The evolution to a more digital and carbon-free grid and industry will continue.

Petroleum remains the most-consumed fuel in the United States, as energy-related carbon dioxide emissions dip through 2035 before climbing in later years.

In recognition of their shared objectives to increase the uptake of renewable energy, the International Renewable Energy Agency (IRENA) and the International Hydropower Association (IHA) have signed a formal partnership agreement.

The hydrocarbon beast doesn’t need to be starved, but a diet might be a good idea.