The energy transition and penetration of renewable energy sources (RES) require a corresponding investment in electricity networks.
This is now evident in Europe, as the Blackout of Spain, as well as the isolation of SE Europe from the rest of Epirus, prove the importance of interconnections and other infrastructure. The aim is to integrate more RES, but also to ensure the stability of the system and the formation of normal prices for consumers.
The International Energy Agency (IEA) published its annual report on international investment in the industry this week. It turns out that networks are projected to be reinforced by $ 9% this year to $ 400 billion, but they are not considered sufficient on the basis of needs.
Indicatively, 2016 was invested $ 0.60 in networks for each electricity investment dollar. This reason has now fallen to less than $ 0.40 at a time when they are waiting for 1,650 GW to be connected internationally.
The European Eurelectric Electricity Association has also focused on the importance of the network. In a recent presentation in Brussels, it stated the importance of network digitization, the resilience to extreme natural phenomena and the expansion of international interconnections.
This week was also mentioned by the Deputy Minister of Environment and Energy, Nikos Tsafos, who called for a central European approach to networks. According to him, interconnections are unless we want to see lower prices in the SE Europe region.
However, the whole effort is, inter alia, to increase the cost of new electrical infrastructure. Indicatively, cable prices have doubled since 2018, while transformers have risen by 75%. At the same time, there is a lack of capable workforce in their production.
IEA and European bodies also stand on the slow licensing of new projects. For its part, the EU It attempts to improve things through the so -called preventive investment, which it will support from now on.
Finally, it is worth mentioning that a total of 730 billion euros in the distribution network and $ 477 billion in the transfer network will be needed to need investments in Europe by 2040 according to the Commission.