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The global grid transmission and distribution combined – will double in length from 100 million circuit-km (c-km) in 2022 to 205 million c-km in 2050 to facilitate the fast and efficient transfer of electricity. However, in the near term, transmission and distribution grid constraints are emerging as the key bottleneck for renewable electricity expansion and related distributed energy assets such as grid-connected storage and EV charging points in many regions, including the US, Canada, and Europe.
Grid expansion is also important for the production of hydrogen, which in turn is dependent on more robust demand-side measure to incentivize offtake.
Out of 400 senior energy professionals contacted in 75 countries:
- 87% of energy say there is an urgent need for greater investment in the power grid.
- 91% say power grid expansion and upgrade is critical to meet Paris climate goals.
- 58% think storage systems are the main area where increased investment is expected next, followed by solar integration and electric vehicle infrastructure (both at 49%).
- Over 75% say smart grid implementation is not happening quickly enough to support the energy transition.
(Source: DNV, 2022, Energy Industry Insights - Future-proofing our power grids)