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Europe Needs to Double Energy Grid Investments to Keep Net-Zero in Sight

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Europe Notícia

Energy Grid,Investment,Net Zero

According to Eurelectric, Europe needs to double its annual investments in energy grids to reach its net-zero goals.

Europe needs to double its annual investments in grids to keep net zero in sight by enabling electrification of transport, heating, and industry, and integrating rising renewable energy sources, Eurelectric, the federation of the European electricity industry, said in a report on Wednesday. Europe’s investments in distribution grids should jump to as much as $72.

Renewable capacity will have increased six-fold from 2020 with 70% of renewable generation and storage connecting at distribution level, the federation noted. “For a successful energy transition the EU needs massive amounts of additional grid capacity. Investment volumes for distribution system operators needs to double,” said Eurelectric’s President and E.ON chief executive Leonhard Birnbaum. “Whilst this will require a significant ramp up, the cost of not investing is even higher.

 

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