Publication - Building Grids Faster: The backbone of the energy transition

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Title

Building Grids Faster: The backbone of the energy transition

Publisher

Energy Transitions Commission

Author

Energy Transitions Commission

Published in

September 2024

Abstract

In its Briefing Note, Building Grids Faster: the Backbone of the Energy Transition, the ETC outlines the critical role of power grids for global decarbonisation and highlights the challenges in their development. The note calls on policymakers and industry to fast-track building power grids in order to deliver the energy transition at the pace and scale required to limit warming well below 2°C.

Clean electrification is the backbone of global decarbonisation, meaning power grids, which link the generation and use of electricity, will play a central role. Under net-zero scenarios, the total length of grids must grow by over 50% by 2050 – a $22.5 trillion investment. While the development of power grids should aim to optimise the electricity system, even full deployment of all optimisation routes will not eliminate the need to build new grids.

Therefore, to address the grid build challenge, ensuring the world does not lose out on large volumes of cheap renewables for clean electricity, policymakers and industry must take action across four critical areas:

• Implement a strategic vision for grids and generation coordinated across key stakeholders and supported by clear data.
• Address slow permitting and approvals, and grow societal acceptance.
• Address skill, component and material gaps.
• Reform financing structures and increase access to finance.

This publication is part of the ETC’s ongoing work on power systems transformation. Detailed reports on electricity networks, which will build on this note, and power systems balancing will be published in early 2025.

URL

link to the document

Admin:
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PIE Grant (Grid Portal)?
Yes

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• Energy Transition

• Grid

• Other