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EU Power Grid Investment Must Double by 2030 to Meet Net Zero Targets

POWER
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European power grid investment must double by 2030 and triple by 2040 from current investment for the EU to meet its net zero targets, according to Bloomberg.

  • The EU spent approximately $58bn in 2022 in grid investments, with the region being the third highest globally.
  • In Bloomberg’s “Net Zero Scenario” (NZS) grid investment is forecast to climb to as high as ~$118 bn/yr by 2030 and increase to about $150 bn/yr by the 2040s.
  • The growth in spending is primarily driven by additional renewable capacity anticipated to come online over the next decade or so, with electrolyser, ageing assets, and demand growth accounting for a large share – but this is variable across different EU states.
  • The first wave of spending is anticipated to be highest in Italy, Germany and the Iberian region.
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European power grid investment must double by 2030 and triple by 2040 from current investment for the EU to meet its net zero targets, according to Bloomberg.

  • The EU spent approximately $58bn in 2022 in grid investments, with the region being the third highest globally.
  • In Bloomberg’s “Net Zero Scenario” (NZS) grid investment is forecast to climb to as high as ~$118 bn/yr by 2030 and increase to about $150 bn/yr by the 2040s.
  • The growth in spending is primarily driven by additional renewable capacity anticipated to come online over the next decade or so, with electrolyser, ageing assets, and demand growth accounting for a large share – but this is variable across different EU states.
  • The first wave of spending is anticipated to be highest in Italy, Germany and the Iberian region.