Huge global electrification plan needed for net zero – ETC

World will need $2tn/yr to electrify new sectors, develop demand-side response and upgrade grids

A huge electrification programme that will see global electricity supply rise from 27,000TWh/yr today to as much as 130,000TWh/yr by 2050 will be key to hitting the goals of the Paris Agreement, according to a new report by thinktank the Energy Transitions Commission (ETC). This is significantly higher than levels of electrification foreseen by the International Renewable Energy Agency (Irena) or Bloomberg New Energy Finance in earlier reports. “To deliver this requires significant increase in investment” Dale, BP “This important report…highlights the central role that zero-carbon electricity needs to play in order for the world to get to net zero,” says Spencer Dale, group chief eco