DNV: Global grid capacity needs to grow 2.5 times by 2050

A report from DNV estimates that globally annual expenditures on the grid must double to US$970 billion by 2050. The consultancy firm's New Power Systems report highlights the need for significant grid capacity growth and increased electricity demand by 2050. Efforts in grid technology efficiency and distribution aim to stabilize or reduce consumer charges despite rising expenditures. Solar and wind energy are projected to dominate electricity generation, leading to a substantial increase in electricity's share in global final energy use. The report emphasizes the importance of AI in managing renewable-dominated power systems.

Source:

https://www.pv-tech.org/dnv-global-grid-capacity-needs-to-grow-2-5-times-by-2050/

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