"Switzerland is committed to an ambitious energy transition. Based on the increasing electrification of our society, this change requires a thorough modernization of the country's energy infrastructure," explains Thomas Lier, head of the GEFISWISS Energy Transition Fund.
Faced with climatic uncertainties, the intermittency of renewable energies requires solutions capable of absorbing production surpluses and redistributing them during periods of high demand.
For a long time, Switzerland has relied on its alpine dams to balance its electricity grid through pumped storage. The current dynamic of more decentralized and intermittent production requires subsidiary management solutions. Batteries are widely used but have limitations in terms of capacity, cost and storage duration.
Other alternatives are emerging, notably green hydrogen and bidirectional charging of electric vehicles. The latter technology allows cars not only to recharge but also to inject the electricity stored in their batteries back into the grid or the home.
Thus, electric vehicles can act as mobile batteries, contributing to grid stability and the optimization of energy management. Initiatives such as the "V2X Suisse" project have already demonstrated the technical feasibility of this approach, paving the way for increased integration of electric vehicles into the national energy system.
The massive electrification of buildings and transport requires adaptation of existing infrastructures. The rise of electric vehicles in particular requires rapid deployment of charging stations, both in private parking lots and in public spaces.
Similarly, the energy renovation of the building stock must be accompanied by an overhaul of heating and cooling networks. The Swiss company STEEN Sustainable Energy, for example, offers innovative solutions based on anergy loops coupled with heat pumps.
These very low temperature networks (0° - 10°C) make it possible to pool thermal waste and ensure 100% renewable heat and cooling production, without resorting to traditional geothermal probes. This approach favors the replacement of individual installations running on fossil fuels with decarbonized collective systems.
Photovoltaics, for its part, makes it possible to power buildings, charging stations and thermal infrastructures with local renewable electricity. It strengthens the efficiency of this decarbonized energy ecosystem and increases its autonomy.
Concerning photovoltaics, note the arrival of a « floating market premium », which should secure investments in large installations.
Regulatory developments play a central role in the development of new energy infrastructures in Switzerland. The Mantelerlass, adopted by 68.72% of the people in 2024, aims to strengthen the security of electricity supply while promoting renewable energies.
Among the flagship measures are the introduction of a mandatory hydroelectric reserve to ensure the availability of electricity in winter, as well as the possibility of dynamic pricing. The latter aims to influence consumer behavior by varying prices over the course of the day and/or seasons, thus limiting the reinforcement of the grid and the need for additional storage solutions.
Concerning photovoltaics, note the arrival of a « floating market premium », which should secure investments in large installations. A new subsidy bonus is also planned for vertical installations and those located on parking areas. In addition, new forms of consumer groupings are emerging, notably virtual RCPs and Local Electricity Communities (LEC), which make it possible to share locally produced electricity.
These incentives are however tempered by a reduction in "feed-in tariffs", that is to say the remuneration for production surpluses injected into the grid. That is why the industry anticipates a slowdown in the national deployment of photovoltaics in 2025.
One of the main arguments justifying this reduction is that incentivizing feed-in tariffs would amount to subsidizing owners at the expense of tenants, the latter being unable to invest in their own installation. Yet tenants can in fact access photovoltaic electricity at a preferential rate by joining a consumer grouping and can also invest in an installation via solar cooperatives.
By benefiting both tenants and owners, an upward revision of these tariffs would therefore appear socially equitable and desirable to maintain momentum in line with the Confederation's objectives.
Funds dedicated to the energy transition offer institutional investors strategic opportunities to finance the development and operation of decarbonized infrastructures.
In January 2025, the Trump administration announced, for the second time, the withdrawal of the United States from the Paris Agreement on climate. This decision could weaken global efforts to limit climate warming and jeopardize the targets set.
Paradoxically, this withdrawal could encourage Switzerland to accelerate its own energy transition and to intensify its investments in renewable energies as well as in local green technologies, thereby consolidating its position as a leader in sustainability.
In this context, funds dedicated to the energy transition offer institutional investors strategic opportunities to finance the development and operation of decarbonized infrastructures. Focused notably on district heating networks, the production and storage of renewable energy, these investment vehicles benefit from privileged access to targeted project portfolios. They combine predictable long-term returns, low sensitivity to economic cycles and protection against inflation, while actively contributing to Switzerland's decarbonization objectives.
On January 29, 2025, the Federal Council reaffirmed its commitment to the energy transition by endorsing a new greenhouse gas reduction target for Switzerland. By 2035, the country must reduce its CO₂ emissions by at least 65% compared to their 1990 level and by 59% on average between 2031 and 2035. These objectives, stricter than those of the previous period, must be achieved primarily through measures implemented on national territory.
This transition requires a profound overhaul of networks, adapted financing mechanisms and close cooperation between investors, operators and public authorities. The modernization of energy infrastructures is a central issue and relies on a comprehensive approach combining technological innovation, regulatory developments and the engagement of sector stakeholders.
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