$3.1 Trillion Investment Needed for Global Grid Infrastructure to Meet Europe’s Climate Goals, Rystad Energy Reports.

Rystad Energy, a think tank, has stated that the world needs to invest $3.1 trillion into grid infrastructure by 2030 to reach Europe’s climate change goals. The think tank suggested that in Europe alone, grid connectivity will need to double over the next 15 years. The need for effective grid connections in the solar sector has led to changes in developers’ behaviour, including the UK’s first solar farm connected to a high voltage transmission network and Romania’s government allowing solar projects with a capacity greater than 1MW to participate in an auction-based system to compete for grid connections. In the US, figures show that by 2022, there is around 947GW of new solar generation capacity awaiting grid connection. Rystad’s report suggests that decentralised projects could help alleviate these issues, with rooftop solar offering homes and businesses the opportunity to receive solar power without needing a grid connection without needing it.