Global annual investments in energy grids need to double to more than $600 billion a year by 2030 if the world is to achieve the national climate and energy goals, the International Energy Agency IEA said in a report on Tuesday.
“Without greater policy attention and investment, shortfalls in the reach and quality of grid infrastructure could put the goal of limiting global warming to 1.5 °C out of reach and undermine energy security,” the agency says. Grids could be the weak link in the energy transition as they have started to become a bottleneck for the expansion of renewable energy sources.
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