Countries need to add or replace approximately 80 million kilometres of power lines by 2040 to achieve national climate and energy targets.
The International Energy Agency (IEA) has released a report highlighting the urgent need to expand and enhance electricity grids globally to meet climate goals and ensure energy reliability.
The report emphasises that without substantial policy attention and investment, deficiencies in grid infrastructure could jeopardise the objective of limiting global warming to 1.5°C and energy security.
Significant changes to grid operations and regulations are also imperative, and annual investments in grids, currently remaining relatively stagnant, must double to over $600 billion (£493bn) by 2030, the IEA estimates.
The report has already identified issues, including a growing queue of renewable energy projects awaiting grid connection approval.
Approximately 1,500GW of such projects, at advanced development stages, await connection, according to the study.
The report outlines a scenario called the “Grid Delay Case,” examining the consequences of inadequate grid investments and regulatory reforms.
It estimates that delayed grid investment would result in nearly 60 billion additional tonnes of cumulative carbon dioxide emissions between 2030 and 2050, exceeding the Paris Agreement target of 1.5°C.
IEA Executive Director Fatih Birol said: “The recent clean energy progress we have seen in many countries is unprecedented and cause for optimism, but it could be put in jeopardy if governments and businesses do not come together to ensure the world’s electricity grids are ready for the new global energy economy that is rapidly emerging.”
