Energy executives see grid expansion as most important hurdle to climate targets and electrification
Post date: 22/09/2022 - 16:31
In a survey of 400 energy industry executives from 75 countries by Norwegian quality assurance and risk management company DNV, grid infrastructure expansion was cited as the most pressing issue for the energy transition and supplying energy to the world’s population. According to the survey, 76 percent of respondents said existing grids are insufficient to connect renewable energy plants to areas of high demand.
87 percent said there was an urgent need for greater investment in grids, with 91 percent citing expansion as a critical barrier to achieving climate goals. 58 percent cited storage systems as the area where they expect investment to increase in the near future, while 49 percent each cited solar energy integration and electric vehicle infrastructure.
DNV estimates that the share of electricity in global final energy consumption will double from the current 18 percent to 38 percent over the next 30 years. 74 percent of respondents saw the trend as positive, despite the current geopolitical and economic upheaval: 45 percent said the global energy transition had accelerated, while 29 percent saw at least no slowdown.