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The International Energy Agency (IEA) projects that this kind of modernization is necessary to help nations achieve their energy security and climate change objectives.
This is about the same size as the world's electrical grid at the moment.
By 2030, such widespread action will necessitate an annual investment in electrical grids of over $600 billion, quadruple the current amount.
Although there has been a notable global focus on renewable energy technology such as wind farms, solar electricity, and electric vehicles, experts caution that the lack of investment in transmission lines could potentially impede further progress.
In the past, grids were constructed to transport energy from locations where fossil fuels were burned to consumers. Power grids from wind and solar farms are becoming more and more necessary as the globe attempts to shift to a clean energy economy.
source: iea.org
This is about the same size as the world's electrical grid at the moment.
By 2030, such widespread action will necessitate an annual investment in electrical grids of over $600 billion, quadruple the current amount.
Although there has been a notable global focus on renewable energy technology such as wind farms, solar electricity, and electric vehicles, experts caution that the lack of investment in transmission lines could potentially impede further progress.
In the past, grids were constructed to transport energy from locations where fossil fuels were burned to consumers. Power grids from wind and solar farms are becoming more and more necessary as the globe attempts to shift to a clean energy economy.
source: iea.org