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.” Last year, when DNV GL for the first time presented its Energy Transition Outlook (ETO), it had a surprising story to tell. The report came to the unique conclusion that somewhere in the mid-2030s, for the first time in recorded history, global energy demand would reach a peak and even decline thereafter. What is important about this projection is that it comes from an independent source: DNV GL is a global, “technology-neutral” consultancy who are active across the entire energy value chain, both in electricity and renewables and in oil and gas.
Energy Post 10th Sept 2018 read more »