Global investment in power grids must exceed renewable energy spending to achieve net-zero emissions by 2050, according to BloombergNEF's New Energy Outlook.
BloombergNEF's New Energy Outlook reveals that global investment in power grids must surpass spending on renewable energy to achieve net-zero emissions by 2050. The world needs to almost double its grid network to 111 million kilometers and invest $24.1 trillion, compared to $22.7 trillion in renewable energy spending. In addition to grid improvements, the report identifies other essential pillars for carbon neutrality by mid-century, including investments in electric vehicles, nuclear energy, carbon capture, and clean hydrogen, while wind and solar capacity must increase ninefold.
May 21, 2024
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