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Lanon Wee

IEA Predicts Need for 50 Million Miles of New or Replaced Transmission Lines by 2040

A new report by the International Energy Agency published Tuesday suggests that in order to meet climate objectives and prioritize energy security, an additional 49.7 million miles of transmission lines need to be installed or replaced by 2040. This will require doubling current global investment levels, resulting in yearly transmission line expenditure surpassing $600 billion by 2030. The IEA further points out that 1,500 gigawatts of renewable clean energy initiatives are already in the advanced stages of development, a supply necessitating the connection to a grid adequate to a mid-size city's electricity needs. According to a new report from the International Energy Agency (IEA) published on Tuesday, in order for countries to meet their climate goals and energy security priorities, they must add or replace 49.7 million miles of transmission lines by 2040, which is roughly equal to the total miles of electric grid that currently exist in the world. This daunting challenge will require a bi-annual investment of $600 billion in electric grids by the year 2030, which is double the current global investment levels in transmission lines. Additionally, there must be changes in the regulation and operation of electric grids in each country. The IEA calls attention to the fact that, although clean energy technologies like wind, solar, electric vehicles and heat pumps have seen impressive development, investments in transmission lines have been insufficient and will become an even greater bottleneck in global decarbonization efforts if nothing is done. Fatih Birol, executive director of the IEA, asserts that "the recent clean energy progress we have seen in many countries is unprecedented and cause for optimism, but it could be put in jeopardy if governments and businesses do not come together to ensure the world's electricity grids are ready for the new global energy economy that is rapidly emerging" and that "[investing] in grids today or [facing] gridlock tomorrow" is essential. The IEA's "Grid Delay Case" reveals the damning consequences of falling further behind in building transmission lines: an extra 60 billion metric tons of carbon dioxide emissions between 2030 and 2050, global temperature averages in 2050 that exceed the 1.5 degrees Celsius over pre-industrial levels goal of the Paris Climate Agreement, and a 40% chance of overshooting 2 degrees. The difficulty of this task is compounded by the fact that building new transmission lines takes 5-15 years to complete, while installing new renewable energy projects and electric vehicle charging infrastructure take only between 1-5 and less than 2 years, respectively. The urgency of the situation requires an international effort, with the IEA's Birol emphasizing the need for the international community to ensure that the developing world has the resources needed to construct and modernize electricity grids.

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