FRANKFURT, Germany (AP) — Stalled spending on electrical grids worldwide is slowing the rollout of renewable energy and could put efforts to limit climate change at risk if millions of miles of power lines are not added or refurbished in the next few years, the International Energy Agency said.
The stalled projects could generate 1,500 gigawatts of power, or five times the amount of solar and wind capacity that was added worldwide last year, he said.
Annual investment has been stagnant but needs to double to more than $600 billion a year by 2030, the agency said.
The report cited the South Link transmission project to carry wind power from northern to southern Germany.
First planned in 2014, it was delayed after political opposition to an overhead line meant it was buried instead.
Persons:
—, Fatih Birol, “, ” Birol, ”, It's
Organizations:
International Energy Agency, Associated Press, Construction
Locations:
FRANKFURT, Germany, Paris, China, India, Biscay, Spain, France, New Mexico, Arizona, California, East Coast, Canada, New England, Maine