The world is undergoing a transformation in how it gets its power. In Germany, we have a word for it: Energiewende. It means energy turning point. (We use the same word Wende to describe the fall of the Berlin Wall and all the dramatic changes that came with it.)

In this transformation, we are witnessing the decarbonization of power consumption, thanks to the large-scale deployment of renewable energy sources such as wind and solar. Earlier this year, the European Union announced that its climate and renewable energy targets—a 20% cut in greenhouse gas emissions, 20% of EU energy from renewable sources, and a 20% improvement in energy efficiency—are actually on track to realization by the year 2020.

At the same time, we’re also seeing the decentralization of power production.

Read more at HBR