Baku:Global electricity demand is projected to increase by approximately 1,100 terawatt-hours annually through 2030, which is about 50% faster than the average growth rate of the previous decade. Despite this rising demand, power systems worldwide are currently unable to keep up, with over 2,500 gigawatts of renewable energy, storage, and large-load projects stalled in grid connection queues.
According to World Economic Forum, a report titled "Enabling the Electricity Era From Proven Solutions to Execution at Scale," developed in collaboration with Accenture, identifies the necessary conditions to scale existing solutions. The report highlights 10 priority actions addressing three key challenges unlocking unused grid capacity, improving connections for large electricity users, and speeding up infrastructure development.
The report draws on real-world examples from various countries to illustrate how regulatory reform, investment, digital innovation, and coordinated action can tackle deployment barriers. By uniting governments, regulators, operators, and investors, these efforts could result in the development of more flexible, affordable, secure, and resilient power systems at a pace that meets increasing demand.
