IEA: doubling investment in power grids

To meet climate targets, investment in power grids must double to 600 billion US dollars annually through 2030. This is the conclusion of a new report by the International Energy Agency (IEA). Consequently, the IEA warns that power grids are already a bottleneck in the energy transition. While investments in renewable energies have almost doubled since 2010, investments in power grids have remained relatively constant at 300 billion US dollars in recent years. It expressed concern that developing and emerging countries, except China, have shown a decline in investment.