The Renewable Revolution’s $3 Trillion Problem

Renewable energy developments continue at break-neck speed, with $644 billion to be spent on new capacity in 2024, but outdated and inadequate power grids could prove to be a significant stumbling block to the energy transition. If the world is to limit global warming to 1.8 degrees Celsius above pre-industrial levels, $3.1 trillion of grid infrastructure investments are required before 2030, according to Rystad Energy research. In that scenario, an additional 18 million kilometers of grid network would be needed to keep pace with the electrification…