Home research Annual Spending on Transmission System Infrastructure for Large-Scale Renewable Energy Integration is Expected to Reach $46.7 Billion in 2025
Annual Spending on Transmission System Infrastructure for Large-Scale Renewable Energy Integration is Expected to Reach $46.7 Billion in 2025

Annual Spending on Transmission System Infrastructure for Large-Scale Renewable Energy Integration is Expected to Reach $46.7 Billion in 2025

12
0

A new report from Navigant Research analyzes the market for transmission system technologies required to integrate large-scale renewable energy generation, with global market forecasts for renewable energy capacity additions and revenue, segmented by region and generation type, through 2025. In the face of growing global demand for electricity and intensifying pressure to curtail greenhouse gas emissions, the development of renewable energy resources is on the rise worldwide. As countries with mature power sectors shift toward a more renewables-heavy generation mix, and those with emerging power sectors build out their grids to accommodate new renewable capacity, demand for transmission system technologies required to integrate renewables is also increasing.

Click to tweet: According to a new report from @NavigantRSRCH, global spending on large-scale transmission system infrastructure for renewable energy integration is expected to grow from $36.7 billion in 2016 to $46.7 billion in 2025. “Rapid development of wind and solar resources is driving investment in transmission systems around the world,” says Jessica Lewis, senior research analyst with Navigant Research. “This is true in countries with mature power sectors that are shifting to a more renewable-heavy generation mix, and also in countries with emerging power sectors that are building out their grids to meet rising demand.” When planning transmission system extensions triggered by new renewable capacity, factors to take into consideration include generation type (e.g., wind, offshore wind, or solar), plant size, and distance from the grid. In addition, the nature of the existing power system, combined with the local regulatory environment, is expected to influence the type of infrastructure investment different countries make to accommodate new renewable generation in the years ahead, according to the report.

The report, Transmission System Upgrades for Renewable Energy Integration, examines the market for transmission system technologies required to integrate large-scale renewable energy generation. The primary technology segments analyzed are high-voltage alternating current (HVAC) transmission systems, high-voltage direct current (HVDC) transmission systems, and utility-scale energy storage systems (ESSs). These segments are further examined by equipment subcategory. HVAC equipment subcategories include substations, transmission lines, and flexible alternating current transmission systems (FACTS). HVDC equipment subcategories include converter stations and transmission lines. Global market forecasts of renewable energy capacity additions and revenue extend through 2025 and are also presented by region and generation type. An Executive Summary of the report is available for free download on the Navigant Research website.

Anand Gupta Editor - EQ Int'l Media Network

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *

Open chat