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Global energy demand could peak in 2030s, meanwhile renrewables grid costs offset by other cost reductions

Energy Post 10th Sept 2018 , 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. http://energypost.eu/dnv-gls-energy-transition-outlook-shows-massive-shift-of-investment-from-oil-and-gas-into-power-lines/

September 17, 2018 - Posted by Christina Macpherson | 2 WORLD, business and costs, ENERGY