DNV GL’s Energy Transition Outlook shows massive shift of investment from oil and gas into power lines
- Sep 10, 2018 9:40 am GMT
The global energy transition will lead to a massive expansion of power lines at all voltage levels as well as a steep growth in the number of transformers and substations in the electricity system. This is one of the major new findings of the second edition of the Energy Transition Outlook, the annual flagship publication of global technical consultancy DNV GL. As a result, grid costs will triple, yet this cost explosion is offset by cost reductions in other areas, such as lower costs in the fossil fuels sector. “The world can afford the transition”, say project leader Sverre Alvik and lead author Paul Gardner of DNV GL in an interview with Energy Post. “That’s the good news. But it’s not clear yet how we will make the necessary investments. How fast we go may depend more on political will than technology or economics.”
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