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Out of 400 senior energy professionals contacted in 75 countries:

  • 87% of energy say there is an urgent need for greater investment in the power grid
  • 91% say power grid expansion and upgrade is critical to meet Paris climate goals
  • 58% think storage systems are the main area where increased investment is expected next, followed by solar integration and electric vehicle infrastructure (both at 49%)
  • Over 75% say smart grid implementation is not happening quickly enough to support the energy transition.

(Source: DNV, 2022, Energy Industry Insights - Future-proofing our power grids)

In 2050, total installed capacity will be 9.5 TW for solar PV and 5 TW for solar+storage. The resulting 14.5 TW amounts to more than half (54%) of all installed capacity globally.

(Source: DNV, 2022, Energy Transition Outlook)

While solar will have a share of 54% of installed capacity in 2050, it will account for 30% of global on-grid electricity generation.

(Source: DNV, 2022, Energy Transition Outlook)

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