Study Indicates That At Least $14 Trillion Will Need To Be Invested In Electricity By 2050

Written by Roberta Souza

Published on 02/03/2021 at 18:20

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BloombergNEF (BNEF) Shows That Investments Need to Increase to Meet New Demand and Replace Electric Power Infrastructure

BloombergNEF (BNEF) released a report showing that by 2050, the world needs to invest at least US$ 14 trillion in electric power grids to support the evolving energy system. According to research experts, as grids become smaller and closer to demand, new distribution networks become increasingly important.

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BNEF experts say that “In 2020, around US$ 235 billion was invested in the electric grid, and that needs to increase to US$ 636 billion by 2050 to support more energy generation capacity, meet new demand, and replace existing infrastructure.”

“The growth of wind and solar in our economic transition scenario causes the average size of power plants worldwide to fall six-fold by 2050 to 158 MW. This results in more plants connecting directly to the grid – accounting for, by mid-century, 63% of annual investment, up from 52% in 2020,” the study states.

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China is the largest single-grid market in the world between 2020 and 2050, despite a potential slowdown in demand growth. According to the report, “In the 30-year outlook, one-fifth of global investment or US$ 2.9 trillion occurs in China. Ultra-high voltage transmission systems continue to dominate, enabling the integration of remote, high-quality renewable energies.

Due to the relatively slow uptake of renewable energy use, investment in grids in the United States, currently the second largest market, lags behind Europe. The research concludes by stating that “Annual funding more than doubles and exceeds US$ 100 billion by 2043. The country’s new president, however, could trigger more ambitious investments in the grid based on recent carbon-free electricity goals,” mentioning that the U.S. could see better metrics under the presidency of Joe Biden.

Study Indicates That At Least $14 Trillion Will Need To Be Invested In Electricity By 2050

BloombergNEF (BNEF) Shows That Investments Need to Increase to Meet New Demand and Replace Electric Power Infrastructure

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Study Indicates That At Least $14 Trillion Will Need To Be Invested In Electricity By 2050

BloombergNEF (BNEF) Shows That Investments Need to Increase to Meet New Demand and Replace Electric Power Infrastructure

Also Check Other News:

Markets:

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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Farmers are eliminating water scarcity in the fields, reviving springs, restoring degraded areas, and strengthening agriculture with over 48,000 seedlings planted in 33 hectares of degraded land, through a sustainable project that reduced expenses by up to 60% in energy and water consumption.

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