Post by account_disabled on Feb 19, 2024 22:55:11 GMT -8
The International Energy Agency (IEA) has released a special report warning of the catastrophic consequences we will face if we do not double investments in renewing electricity grids around the world, according to Corporate Knights . According to the report titled Electricity Grids and Safe Energy Transitions (2023), if countries do not increase their investments in the renewal of electricity networks to more than 600 billion dollars a year, we could see an increase of 58 billion tons of carbon dioxide. of carbon in the atmosphere between 2030 and 2050. This is equivalent to all the CO2 emissions of the global energy sector in the last four years. Far from climate goals These additional emissions could take us beyond the goal of limiting global temperature rise to 1.5°C, set in the Paris climate agreement in 2015. This would have disastrous consequences for the climate, including longer droughts, more frequent floods and storms. more intense, and energy security worldwide. To meet countries' climate and energy security goals, it is necessary to double the renewal of electrical networks of approximately 80 million kilometers of power transmission lines by 2040, which is equivalent to all the existing transmission capacity in the world currently.
This ambitious goal makes the renewal of electricity networks a major challenge on the path to a low-carbon future. Currently, the renewal of electricity grids is not keeping pace with the rapid growth of key clean technologies such as solar, wind, electric vehicles and heat pumps. Without greater policy attention and investment, shortfalls in the extent and quality of grid infrastructure could make the goal of limiting global warming to 1.5°C unattainable and Chile Mobile Number List undermine energy security. Financing must double the renewal of electrical networks Doubling investment in power grids to $600 billion a year is a crucial step. This will require changes to the way electricity grids are managed and regulated. Furthermore, collaboration between governments and businesses is needed to ensure that the world's power grids are prepared for the new global energy economy that is rapidly emerging, the report emphasizes. Lack of investment in electricity grids is also cited as already causing problems, with 1,500 gigawatts of renewable energy projects waiting to be connected to the grid.
This is five times the amount of solar and wind capacity that was added worldwide last year. In the United States, network saturation cost $13 billion in 2021 and is estimated to cost $22 billion in 2022. However, despite these challenges, there has been significant progress in reducing climate pollution in the global energy sector. Emissions grew just 0.2% in the first half of this year, thanks in large part to the adoption of wind and solar energy around the world. Emissions decreased significantly in the European Union, the United States, Japan and South Korea, although they increased in China and India. Challenges of doubling the renewal of electrical networks However, as more sectors become electrified, bottlenecks are occurring in the capacity of existing electricity networks. The adoption of new technologies such as electric vehicles and heat pumps means that electricity is expanding into sectors previously dominated by fossil fuels. Additionally, renewable energy projects are being added at a rapid pace, requiring more transmission lines to connect to high-performance electricity systems and distribution networks to ensure reliable supplies for end customers. Failure to renew electrical networks and lack of regulatory reforms could put all of these gains at risk. The IEA report presents a scenario called Grid Delay , which shows in a hypothetical scenario what would happen if investment in electricity grids does not meet expectations or if regulatory reforms advance too slowly. . In this scenario, the transition to cleaner energy sources would stall, leading to lower adoption of renewable energy and increased use of fossil fuels.
This ambitious goal makes the renewal of electricity networks a major challenge on the path to a low-carbon future. Currently, the renewal of electricity grids is not keeping pace with the rapid growth of key clean technologies such as solar, wind, electric vehicles and heat pumps. Without greater policy attention and investment, shortfalls in the extent and quality of grid infrastructure could make the goal of limiting global warming to 1.5°C unattainable and Chile Mobile Number List undermine energy security. Financing must double the renewal of electrical networks Doubling investment in power grids to $600 billion a year is a crucial step. This will require changes to the way electricity grids are managed and regulated. Furthermore, collaboration between governments and businesses is needed to ensure that the world's power grids are prepared for the new global energy economy that is rapidly emerging, the report emphasizes. Lack of investment in electricity grids is also cited as already causing problems, with 1,500 gigawatts of renewable energy projects waiting to be connected to the grid.
This is five times the amount of solar and wind capacity that was added worldwide last year. In the United States, network saturation cost $13 billion in 2021 and is estimated to cost $22 billion in 2022. However, despite these challenges, there has been significant progress in reducing climate pollution in the global energy sector. Emissions grew just 0.2% in the first half of this year, thanks in large part to the adoption of wind and solar energy around the world. Emissions decreased significantly in the European Union, the United States, Japan and South Korea, although they increased in China and India. Challenges of doubling the renewal of electrical networks However, as more sectors become electrified, bottlenecks are occurring in the capacity of existing electricity networks. The adoption of new technologies such as electric vehicles and heat pumps means that electricity is expanding into sectors previously dominated by fossil fuels. Additionally, renewable energy projects are being added at a rapid pace, requiring more transmission lines to connect to high-performance electricity systems and distribution networks to ensure reliable supplies for end customers. Failure to renew electrical networks and lack of regulatory reforms could put all of these gains at risk. The IEA report presents a scenario called Grid Delay , which shows in a hypothetical scenario what would happen if investment in electricity grids does not meet expectations or if regulatory reforms advance too slowly. . In this scenario, the transition to cleaner energy sources would stall, leading to lower adoption of renewable energy and increased use of fossil fuels.